Ten Questions to Guide Strategy Development

You’ve done the research. The SWOT and Stakeholder Analysis are wrapped up. You’re armed with data. You’ve set the goals and objectives. Now, how does your team assemble the 2025 strategy and tactics – and execute?

Here are ten roadmap questions that can help frame up the development of actionable, high-impact strategy.

• Are your goals based on the SMART framework? Are they based on your companies biggest strength? Are your goals Specific? Are they Measurable? Are they Achievable? Are they Relevant? And are they Time-based?
• Of all of your SMART goals, what is the single biggest key or objective that you want to achieve in the next 90 days? How does that objective address your identified weaknesses or vulnerabilities?

• Are your goals based on reality? Your team can set a goal of product or service sales growth of 30%. Is that truly achievable? Sometimes the setting of audacious aspirational goals can be vision-making. But if they’re devoid of reality, that can be demotivating, even repelling. However, this should not be an exercise in limitations – it’s a good step to consider what you would do if money, resources and time requirements weren’t an issue (especially given that true innovation often occurs in cross-sector environments).
• What does your team need to achieve its goals? Everyone typically starts with capital and financial assets, but what about talent and workforce? Home-grown or recruit? Is your marketing focused for success? Where does digital transformation come into play?
• If you secure the resources you need (or at least tap enough resources to move off of center), what’s the first step in moving forward? What specific options or pathways will be open to you? Where do you need to engage?
• As you identify these first steps toward achieving your goals and objectives, what tactics start to emerge that you can turn into a strategic plan with benchmarks? How are your products and services differentiated from your competitors?
• What did your team and company do last year that you want to magnify in the coming fiscal year? What specific steps for analysis and possible improvement are required? Did AI play a role?
• Your plan was approved and now your team is at the end of the first quarter. What happened that made you successful? After a year of execution, what does your team and company look like?
• No plan fully survives first contact with the enemy (competition or opposing cultural or economic forces). What’s your plan to motivate your team and company when obstacles show up? What kind of motivating leadership are you prepared to demonstrate? In a trust-challenged world, how will your team sustain trust among key stakeholders, employees, customers, and influencers?
• Today all businesses are technology companies, incorporating technology to achieve continuous improvement. How is your team anticipating technology-driven change in your business and marketplace?

Of course, what you just read is more than ten questions. The point? Assembling a North Star-driven strategic plan that drives growth and sustains/boosts profitability is no mean feat. Even data-driven processes can get messy.

Are you ready to execute?

As the legendary Prisoner’s Dilemma game demonstrates, the outcome of a situation can improve if parties cooperate. If you’d like to kick around a few ideas and collaborate on your strategic plan, give MEK a call.

By Michael Snyder, MBA.