How To Do Strategic Planning: Part 3 of 4

Transcript: Part three, this is part three of four of how to do strategic planning. If you’ve been watching our videos, you know by now November and December, at the end of the year, are strategic planning season. All entrepreneurs should be doing strategic planning, if you’re an owner of a business, this is the time you do it. And so, we’ve been talking about what we did in part one and part two in the strategic planning process. Now in this phase three, what we’re getting to is listing core initiatives. So part one was we did a brain dump, part two was we prioritized that brain dump, which was strategic. That was the strategic choices of what to do and what not to do. Here we are in part three, we’re like, “Oh, we can look at all of our paper and go, Oh, I see what we’re going to do. I see our core initiatives.”

Then what we do is we start listing out, this is a big thing I’m seeing in the strategy of all we want to do. This is a big thing, we start listing these huge, big bucketed subject areas. And we’re really starting to understand what are the huge initiatives that are going to really eat up our time, our capacity? What do we want our team to do more of? We’re really seeing through listing out on just one other piece of paper, our core initiatives. We’re like, “These are our biggies for the year.” If we move these big boulders and rocks forward, these are going to be the things that move our companies forward. So, this listing, the core initiatives, just starts to really make it aware to you how big your year is going to be coming up.

And even in this third phase, this is another strategy phase where you may drop off things and go, “I’m looking at all of these core initiatives now.” After looking at 30 pieces of paper, sticky pad paper, I’m looking now at one piece of paper with our core initiatives, you may further cut those core initiatives and go, “We still can’t do all this. Those are bigger than we thought when we were looking at all the paper.” Now that we’re looking at one piece of paper in this third video of four on strategic planning, we’re seeing we’re going to have to cut more out. So that’s when we start cutting again, or we further, deeply commit to those. So come back and find out what we do in phase four of strategic planning to wrap it up.

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