Wednesday 4 August 2021

Strategic Planning

From individuals to corporates, and even to nations, everyone must undertake strategic planning for the future. These plans would determine our future destiny. Sometimes we plan to change our status quo and at other times circumstances force us to plan. Either way, we ought to employ a strategy that would ensure attainment of desired objectives.

Sometime back, I learnt a very effective strategy of planning for the future from an interview with a top strategist of a nation. He described his strategy through following steps:

1.     Plan when mind is calm

Never rush to plan when you are filled with anger, anxiety, or fear. In such a state of mind, your focus will be on handling the immediate source of anger, anxiety, or fear – not on your true objectives with lasting benefits. Wait until the mind settles down and is calm enough to think clearly.

2.     Define objective clearly

Reflect on what you truly want in the future. Let there be no ambiguity about it. You should be fully convinced of what you want, not acting on some passing desire or hearsay. You see your future dependent on what you want. Write down this objective using noun and verb, such as “I want to have an athletic physique”, or “I want my company to appear in the list of Fortune 500”, “I want to retire in peace and good health.”

3.     Identify options

Develop alternative options to realize your objective. At this stage, consider all options that you can think about. Taking advice from a trusted friend or colleague or family member could greatly help in developing different options.

4.     Choose most favourable option

Review every option carefully based on your current resources and constraints, while also evaluating your ability to increase these resources and to remove the current constraints. The option that takes you to your objective with optimum resources and minimal risks could perhaps be favoured.

5.     Prepare for the worst

Even though you have clearly defined your objective and chosen the most favourable option to attain your objective, there is no guarantee that you may attain it. Consequently, you must prepare yourself for the worst. Visualise the worst that can happen despite all your efforts and planning. Now, ask yourself “Am I prepared to accept this outcome? If not, what do I need to do to improve this outcome?” Having figured out what would make the worst outcome acceptable, do those things before starting, such as arranging additional fund, taking expert advice, changing location, acquiring new skills, etc. Once you have brought the worst possible outcome within your acceptable limits, your mind will be at ease while implementing the plan.

6.     Don’t quit, make it work

When you start implementing your chosen option to attain your defined objective, surprises may come your way. Obstacles may arise. Don’t quit in the face of any challenge. Find ways to address them. Adjust your option to adapt new approach. Our intuitions can often direct us to what is the right course of action for us. Use your intuition at every stage from defining the objective to executing the plan. Work to make the plan succeed in all circumstances.