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Strategic thinking is one of those clichés that every business person has heard about along the way.  Many business owners however don’t prioritise the time to periodically sit down to spend some time thinking and planning to act strategically unless they are forced to by external events that will impact their current modus operandi.

There are many dictionary meanings to the word strategy but we like to define it as “a plan, method, or series of manoeuvres or processes for obtaining a specific goal or result”.  To put it simply it is “starting with the end in mind”.

So what does this exactly mean in the real world?  Well you should never begin something important without first identifying what you want the end result to be, comparing that to the current situation and then developing action plans to bridge the gap.  Easy to say but much harder to do in current “busy” world where our days are full of tasks managing the people that demand the most attention.

As a starting point ask yourself the following 4 questions to get yourself in the right mindset:

  1. What is your vision for the business?
    • Who will your customers be in the future and where are they located?
    • What will you sell them and who will do the selling?
    • What will your turnover be?
    • Where will you operate from?
  2. Are you moving towards that vision now?
  3. How can you get there more quickly?
  4. What behaviours does your team need to live each day to achieve the vision?

The biggest challenge to any business owner in thinking strategically is typically the difficultly in thinking beyond the constraints present in your current environment. Some well facilitated questions and paraphrasing of answers often provides business owners with clarity of what the future should look like and then some discipline to identify and tackle the barriers that exist to get there.

Hanrick Curran has the expertise to support business owners to transition into a strategic thinking mindset and facilitate the development of a business strategic plan. If you need some assistance in getting clarity on the future direction of your business contact your usual Hanrick Curran adviser or call Angie Winton on 07 3218 3900.