Everyone knows their strategy until you ask them what it is!
It’s like the scene from the bad dreams you had as a teenager; the ones where you show up to take your final exam and don’t remember a thing.
You’re at a business function explaining what your company does and someone asks what your strategy is, and you have no answer. You should have one. You want to have one. But nothing comes to mind.
Your strategy, simply, is the way in which you plan on matching what you do best with the customers you plan to reach.
Question 5: What’s Your First Action?
To ensure a strategic plan is brought to life, there need to be specific action plans for each of the strategies set.
Action planning should be viewed as the architecture of your strategic goal setting. The action plan is typically created at the end of the strategic planning process. This is after you’ve set out your vision, done a SWOT analysis and established objectives.
Without a realistic set of incremental steps, overarching strategies are not likely to form in the way you would like (if at all). Powerful strategies are made from the right building blocks ─ and a willingness to act.