Small Business

Five Most Important Questions to Ask Yourself in Strategic Planning

Strategic Planning
Strategic Planning (UF Executive Education - University of Florida)

Five Most Important Questions to Ask Yourself in Strategic Planning

Strategic planning is not a passive activity. Strategic planning is the process of thinking through the action steps that you are going to take to achieve your business goals and objectives. One good thing about it is that it is dynamic. You plan daily and strategize daily. A second without plan might eat up your goals.

By thinking and acting strategically, you increase your profitability and the level of satisfaction that you get from your business, career and life. You also increase your overall levels of quality and market penetration. You also have a tremendous feeling of being in control of your business and life. And these key questions are paramount for a start towards achieving them:

Question 1: where am I now?

You have to identify and recognize your business, customers, markets, competitors, and your financial strengths and weaknesses. If you are able and willing to answer these few but necessary questions, then you have set the ship sailing in the right direction.

Question 2: how did I get here?

How did I get here today? What critical steps did I follow? What lessons have I learnt on the way to getting here? These are few questions to get you to know if there’s a chance to move ahead and by moving forward, you should identify the mistakes you made in the process and learn how to correct them from further occurrence.

Question 3: where do I want to be in the future?

What are your business projections for the next five, ten, or more years coming? Where do you want to be personally? Clearly define your goals and ideal future from where you are today and the process that get you here in the first place.

Question 4: how do I intend to get there?

The best step to achieving this, is to go around your mind and brain and lay out tactical action plans. The process is going to be challenging but the outcome is going to be one hell of an achievement that many successful business leaders have used to thrive and build great business empire over the years.

Question 5: what do I need to achieve all these?

One important tool to use in this case is a simple checklist. What additional skills, resources, or finance, will you require to achieve your strategic objectives in the future? Start making a list of all the things you need and the steps to get you where you are today to where you want to be. Believe me, everybody wants a good bright future both in business, career, and life. And I know you want it too.

I am the Founder and President of Young Leaders Arena. Formerly I was the Chief Editor and program co-ordinator at Walktall. Author of the upcoming Book; Success Recipe: Start up Tool-kit for exceptional business growth. I have written numerous articles on both leadership, business start up, entrepreneurship. I have served as thought leader in many societies and organisations, including the Forum on Extractive Industries Transparency Initiative. I obtained my post graduate from the prestigious University of Port Harcourt. I also have a Bachelors from the Delta State University, Abraka. Twitter & Instagram: @Charlessholokwu

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