Preparing for strategic planning can be stressful. Before you book your conference room, spend time reflecting on these 3 ideas.
Strategic planning preparation is all about having the time and space to reflect on your business. But, we know that business owners are busy people. According to The Leader’s Calendar, the average CEO works 62.5 hours a week. As a result, a lot of business owners plan on the fly and when it comes to their strategy meetings, they struggle in two ways:
The result? Another year of ineffective strategic planning, wasted time, and less than stellar growth.
The issue in both of the scenarios above is a lack of reflection and (therefore) preparation. Perhaps they didn’t have a clear set of questions to keep the focus on strategy—or they did all their dreaming in the meeting because they didn’t have time to reflect prior.
Either way, don’t think that you’ll have to sign up for a yoga retreat or climb to the top of a mountain to start reflecting…Here are three tips to help busy owners get started reflecting on their business.
We’ve talked before about how you’re probably too busy for strategic planning. If this is you, you’ll be happy to know that you don’t need to block off hour-long stretches on your calendar. Reflective and creative thinking often happens while you do something else, like taking a 15-minute walk. Emma Seppälä at the Harvard Business Review shares:
Google’s Bastholm recommends any physical, relatively mundane activity: “Vacuum the house. Get on an elliptical at the gym. Paint a fence. Anything that will allow your brain to work in the background.”
Working for short bursts of time encourages creative problem-solving by keeping an idea at the top of your mind. For me, my drive home is often where I get some of my best thinking done. When I get an idea, I record and transcribe it on my phone using the app, Temi, so I can revisit it later.
It’s important to reflect without the influence of anyone else prior to your planning session. As McKinsey’s Chris Bradley says on the podcast, Inside the Strategy Room, strategic planning meetings can be fraught with social pressure:
There are negotiations, there are egos, there are last year’s plans. There are other people, and you want to look good to them. There is so much else going on than just strategy.
If your team includes long-time friends or family members, it can be tough to come up with creative solutions during strategic meetings. But you don’t have to worry about anyone else’s feelings if you gather your thoughts in private. If you’re an external processor (like me), talk through your ideas with someone outside your business, like a trusted friend or spouse, or out loud and record your answers.
You’ll find tons of articles with “50 essential questions for strategic planning”. But in my experience, it’s better to reflect deeply on fewer questions. You can get started with these eight questions and see where they take you.
You can take the stress out of strategic planning when you spend time by yourself reflecting on these eight questions.
And remember, you don’t need to set aside hours of time alone on a mountain top—a few 15-minute chunks of time here and there can give you the space to answer these important questions. Record your thoughts and revisit them when it’s time to meet with your team.
Then, you’ll be prepared for efficient strategy meetings that will benefit you throughout the year.