BLOG 112020: Four Critical Areas To Cover Before January 1st

Four Critical Areas To Cover Before January 1st

Before I show you FOUR critical areas to cover between now and January 1st, have you scheduled and/or hosted your planning event for 2021 yet?

If you haven't, consider the benefit of planning out your year. It allows you to cut through the chaff and determine what's REALLY important. And keep in mind... if everything's important, nothing's important! You must prioritize!

Okay, so what can you actually do in your planning event? (If you've already hosted and completed a strategy session, did you cover the following critical areas?)

The first thing you can do is...

ASSESS the external environment in which you operate. The more you understand your environment, the stronger and more competitive you become.

Read on if you like these two benefits.

Four Areas to Cover

Would you agree that in today's complex, highly competitive, fast-paced environment that continuous scanning of that environment is smart, as well as enormously helpful?

Here's where to start:

• Key trends
• Market forces
• Macroeconomic forces
• Industry forces.

Notice that ALL of these are "forces." That means they have strengths that can help or hurt you. Do you know the specifics for your industry and line of business? (The word force comes from the Latin fortis, strong.)

There are many questions and areas of research to do on each one of these. For example, few anticipated the China virus and its impact. Most people weren't thinking of the potential impact of a global pandemic! Notice the businesses adapting to that environment and the ones who aren't. And that's just ONE force! 

Where are the regulatory trends headed, particularly with a new administration coming in? What about cultural trends? What about market issues, needs, and demands? What about global market conditions? What about competitors (incumbents) and new entrants (insurgents)?

These are just a few questions you can ask yourself and your colleagues, regardless of whether you're a one-man/woman band or a large firm.

Make sure you take the time to assess your environment asap.

If you'd like help, just let me know. Regardless of whether you DIY or get help, as Nike says, Just do it!!!

Contact me at the number below or send me an email if you want to discuss your situation. I look forward to hearing from you.

Jim Castiglia, Founder 
Business Street Fighter Consulting, LLC
919-263-1256
http://www.BSF.Consulting