What Does It Really Mean to Think Strategically?
Everyone wants to have an edge when they are doing business. After all, being the first to come out with a new, innovative product puts you out in front of the competition. But how can you do this? Will thinking strategically give you a competitive edge in business? And if so, how? And just what exactly is strategic thinking? What’s it really mean?
Have you ever thought about what it means to think strategically? Does it mean to create strategies, like in a war? Is it a skill you are born with or something you learn? Strategic thinking seems like a vague buzzword that CEOs toss around to sound important.
Strategic thinking is a skill we can all learn. It is how we plan, think, and ask questions to grow and learn while we work toward a goal. It’s embracing what you were like when you were a young child and asking questions, most importantly, “why?”
Thinking strategically is based on a combination of knowledge, experiences, and your hunches. It’s about taking calculated and uncalculated risks that we hope will pay off in the future.
It’s about shifting your focus from just doing things to thinking and planning what should be getting done.
Three Behaviors That Inspire Thinking Strategically
Switching your focus is easier said than done. To cultivate a mind of thinking strategically, these three behaviors can help.
1. Question why. Don’t accept doing a task a certain way just because it’s the way it’s always been done. Ask yourself why it’s done that way. Or is there a better way to do it. Thinking strategically is about knowledge, so you can make an informed decision. Asking questions and listening to others’ opinions helps supply with the information you need to make a well-informed decision.
2. Observe everything. Spending every minute of your day just doing stuff and getting things done might seem productive. But it doesn’t allow for you to think strategically about what you are doing. Instead, take a step back occasionally and observe what’s going on. Look for areas that could be more efficient, who is doing what, and how much each activity is helping things move forward. Observe critically the big picture, and the way the pieces fit together.
3. Reflect on your day. Think about what gave you energy or took away your energy. Reflect on the activities that helped the organization move ahead or were wasted time. Reflection time each day allows you to ask yourself if you are on the right path, develop solutions, and stay on track with your goals. This is where inspiration and creativity have a chance to grow and be seen.
Strategic Thinking Can Give You A Competitive Edge
In today’s market, there are millions of products and services available to take care of the needs of individuals and businesses alike. Being able to identify and exploit the features and benefits of your product or service and show how it is better or different from your competition is your competitive edge. It will provide your business with the tools to increase sales, improve your profit margins, and ensure your business survival in a competitive market.
Thinking Strategically
When you think strategically about how you can gain the competitive edge with your business, you are able to come up with new and innovative ways or ideas for your service or product.
Thinking strategically requires you to constantly assess your business and the industry and apply any new insights. Your goal is to use the knowledge to reinforce how your company is different to achieve a competitive advantage.
This means making smart decisions daily and knowing where you are going. Look at your company. Research alternative diverse sources of information about your company, the competitors, and the industry.
Once you have this information, you’re equipped with the tools to develop new insights. Take time to re-think things and reflect on your options before you decide. Use the time to create innovative ideas and solutions.
Thinking strategically allows you to set up a plan, execute and adjust so that your product or service fits your customers’ needs better than your customer. Using your skills of communication, listening, and asking questions you learn what they need, want and desire, you see where your competitors’ product or service is lacking and can find a way to fill that void.
The skills necessary for strategic thinking help you be innovative. Thinking outside the box, having an open mind, and showing empathy for your customers allows your creativity to open possibilities.
Thinking strategically means you focus on the future. You anticipate what needs to happen, what can go wrong, and who you can work with. You’re able to see patterns and ways to connect them with new ones.
You’re able to interpret the information you’ve learned and turn it into a plan with actionable steps that lead to success.
Take the Next Step
When you focus on doing and making something happen by doing this and doing that, you are working hard. But you are not thinking strategically. Of course, working and doing is necessary up to a point.
Instead, stop focusing on just getting things done. Take a step back and set goals for what you want in the future and how you can help the organization win.
Thinking strategically is inspiring. It helps you go from mindlessly going through the motions and commands of others to planning and observing and implementing in a way that gets you and your team to success of the goal.
Strategic thinking is a powerful tool that helps you gain a competitive advantage. It can potentially move your company into the future with new and innovative products or services. Spend time gathering information on your competitors and their services or products. Analyze, interpret, and think outside the box as you develop your products. Then, make a well-informed decision, set a goal, create a plan of execution, and follow through on your plan.
