Do you have a strategic plan or a bunch of goals?

Every business owner wants to grow their business, but very few have a written strategy on how they are going to use their company assets (both financial and nonfinancial) to create a high impact winning position. A clear and written strategic plan is completely different than a goal of growing from $5 million in revenue to $10 million in revenue.

 

On today’s show, we have Greg Meredith - Founder of Simply Strategic™ - is on the show again to dive deeper into the essential components of an effective - and actionable - strategic plan and how it is different from goals or an operating system (e.g., EOS©). Greg breaks down the 9 Keystones of the Simple Strategic™ process and how it helps you identify your company’s strategy to beat your competitors and win market share — no matter how big your business is.

 

What You Will Learn

The definition of strategic planning and what is included in a strategic plan that is actionable

The difference between strategic planning and an operating system like EOS© or Scaling Up

How strategic planning and operating systems compliment each other if done right

Why you need just one strategy that incorporates every aspect of your business

The 9 Keystones of the Simply Strategic™ approach 

What the difference between a guide and a facilitator is and why it’s crucial to know which one you are working with

Different exercises that are in a strategic plan (e.g., the Ansoff Matrix) and how they help compare the tradeoffs between different ideas and strategies 

Why strategic planning is an underutilized - yet extremely crucial - exercise every visionary needs to go through

What the ‘opposite strategy’ exercise is and why it’s a great way to vet out ideas

How to think about the process of incorporating your strategic plan into your company’s financials

Bio:

Greg Meredith is the Chief Strategy Guide at Simply Strategic in Dayton, Ohio. Simply Strategic is a network of strategy guides that bring knowledge and deep business insight to the table when business owners are looking to scale. Greg believes it’s important to be a guide and not a facilitator when working with high level executive clients. He also holds a Masters of Business Administration from The Ohio State University and a BSBA in Finance and Economics from Miami University.

 

Quotes:

07:49  - “What we say when we’re talking about strategic planning is, what we’re trying to do is create a compelling strategy. There’s a lot of activity that’s