Strategic thinking is critical to the long-term success of businesses today. Yet, there are too many businesses that fail to invest time, money and human capital into planning for the future. So many businesses are concentrating only on the day-to-day activities in their business and are failing to create or remember a vision for the future. Some businesses work diligently to create strategic plans, business plans, integrated marketing communications plans, etc. only to leave these plans dormant on some shelf. They fail to remember that these plans are living documents, which warrant follow-through, review and updates.

Businesses need to commit to spend more time spent on strategy on a regular basis. So what advice can we share to help business owners and their management teams make the best use of time for strategic thinking? Here are ten (10) tips from your strategic thinking business coach to help.

+ Review what plan(s) you have and give yourself realities check. Ask yourself the tough questions about your business strategies and the company vision, mission and goals. Then determine what if any changes need to be made.

+ Look at the marketplace to determine what has changed since you prepared your plans. Identify the strategies have worked and those that have not. Develop new strategies as needed and reinforce and re-emphasize the strategies that have worked well.

+ Review the financial condition of your business. Take a serious look at your cash flow and your funding for the upcoming year and beyond. If new funding sources are needed, then develop strategies to pursue those alternatives.

+ Maintain a strategic focus. Commit to following a clearly defined strategic focus or vision for your business.

+ Develop a strategically thought out integrated marketing communications plan as a top priority. Review past marketing strategies and delete those marketing strategies that are not working. Enhance those strategies that are working and develop new marketing strategies as warranted.

+ Develop a crisis management plan/business contingency plan to deal with the unpredictable. Develop strategies to address the worst-case scenario for your business. + Develop a group of strategic thinkers into a strategic management team for your business. These people can be leaders in the strategic thinking needed in your business.

+ Commit to a lifelong learning process and to take strategic advantage of the “lessons learned” from those things that don’t go right.

+ Set aside time each month that is dedicated to strategic thinking and planning. Make this a priority, rather than trying to “fit it in” when time permits. + Seek advice from others, including a strategic thinking business coach, to assist, facilitate and guide you in your strategic thinking process for your business.

Your strategic thinking business coach challenges business owners and their management teams to commit more time to developing, reviewing and driving business strategy. You are urged to consider very carefully how you tackle strategic planning because the benefits of strategic thinking and planning will provide maximum returns on the time invested.

Strategic Thinking – A Wise Business Investment, According To Your Strategic Thinking Business Coach By: J. Glenn Ebersole, Jr., Chief Executive of J. G. Ebersole Associates and The Renaissance Group