Strategic Thinking for Small Business

There is a story of four (4) frogs sitting on a log. We decide to jump, how much is left? Some frogs respond to three (3) to answer this question. However, the correct answer is four, because there is a difference between deciding and acting.

Market, especially for small business owners and sellers crazy busy, there are many decisions made every day. Should I attend this event or make sales calls? Then add to all administrative decisions from accounting to marketing and working in companies is like juggling balls with more being added.

Decide and implement start with a predetermined course of action or what some call strategic planning. A colleague of mine with its customers that there is a difference between strategic thinking and strategic planning and I agree.

The thought is a thought process which in turn turned to the past, present and future. Therefore, many effective strategic planning process are:

Historical data (past)
Organizational Assessment (current)
Trend (Future)
Just after reflection and planning takes the information gathered to construct a specific route of action that aims to identify the most known and even unknown (and if) the maintenance plan of the obstacles to move forward. Then and only then concrete steps to put up with the responsibility (the delegation) and dates.

Strategic thinking and strategic planning are needed in today’s dynamic global market. However, both need time and is one of the resources do not or do not want to reassign to maintain the current application, as noted business expert Michael Gerber has articulated, people who work in companies rather than in business.

Like most people admit to losing at least 12 minutes each day, then what would happen if every morning, I spent 6 minutes to determine what to do now? Then when the day is over, invest the remaining 6 minutes to confirm that you have taken the default actions and specify the immediate value to you or your company.

Deciding and doing are really independent when properly implemented are being proactive. For those who are proactive and ahead of market flows, which have the ability to see where the stream. This is a competitive advantage and it really helps to avoid adding more balls to the gym every day.

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Thursday, April 14th, 2011 Business Strategy

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