It seems lately that the world is spinning a little faster because every day is filled with more to do. Who has Time to see the Bigger Picture stuff?
Over the years, we have met some really interesting leaders in our local and state business community. It’s such an honor because we get to exchange ideas on what’s next for our respective industries. There’s always a discussion about technology and how it continues to accelerate so fast that it’s getting more difficult to keep up with it. We also talk about changes in the legislative environment, as well as governmental agencies. Yet it’s rare for us to sit down and put it all on paper. As leaders, we need to write it down in order to see the Big Picture and prepare for “what’s next” in our industry.
According to a study, 96% of company managers and leaders lacked the time to create strategic plans. The main reason cited was getting bogged down with minutia, enough that they rarely took time for strategic thinking.
Minutia: (mi·nu·tia \ mə-ˈnü-sh(ē-)ə) noun.
A small or trivial detail.
To avoid this trap, it’s suggested that we block off small, manageable chunks of time on our calendar. Then, take the time to understand industry events that may cause problems in the future.
One talented business leaders with whom we crossed paths let us in on her secret to building a strategic plan. She leaned on internal and external resources for help.
Resource: (ree-sawrs) noun.
A source of supply, support, or aid, especially one that can be readily drawn upon when needed.
She noticed her employees liked helping her step away to deal with big picture items. She also knew hiring a consultant can be expensive, but they turned out to be very effective. There was no alternative for her, because she just didn’t have the time to do all the research and analyses. So, her employees became her consultants. It was mutually beneficial, because the team felt like they were contributing in a meaningful way to the direction of the business, plus they had the opportunity to change up their day and do something new.
Analysis: {uh-nal-uh-sis) noun.
A method of studying the nature of something, determining its essential features and their relations.
She counted on this new big picture to save the company money and offer several new revenue streams. Her only caveat was for everything new that you want to do, you’ll have to stop doing something else. This is especially true amid tighter budgets and growing competition.
It’s important to stop and take the time to think strategically about the future of your industry and business. There may be small changes happening right now that can affect the course of events for years to come. And, as the old saying goes, luck favors the prepared.
