Formulating plans for 2021 now, is difficult, but we know it’s a necessity. Remember the 4 P’s. No, not “Price, Product, Promotion, Placement” – but “Planning Prevents Poor Performance”!

If you’ve read anything on strategic planning (and I’ve read volumes), you’ll consistently see the need for SWOT analysis.

Mention ‘SWOT Analysis’ and people remember lost days of discussion with limited success. This can be a simple, effective and ongoing part of growing your business.

Ignore your ‘Weaknesses’ and focus on maximising your ‘Strengths’! You can spend forever on your weaknesses and still not achieve your potential.

Focus on your strengths to reduce the impact of key weaknesses.

Spend time and resources to get the most return. Involve your key team to re-confirm / identify these ‘Strengths’ within the framework of the ‘External‘ factors of ‘Opportunities’ and ‘Threats’ within one 45 minute meeting.

The next stage is to agree the structures and milestone objectives to be achieved and realistically by when, to plan your journey. Your people are part of these strengths and the journey!

Can you list your ‘Strengths’ / competitive advantages in delivering to your market?

Photo courtesy of B-plan.com

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