Strategy can seem daunting. But it really doesn’t have to be. To create a comprehensive strategic plan all you really need is a little bit of time to think and a single sheet of paper.
A comprehensive strategy is made up of the following components.
WHO (Also Known as: Core Values)
Validity: Enduring
Question: What is core to our existence? What do we hold so dear, value so much, that regardless of ramifications we will not waiver from?
What it looks like:
- A bullet list of 3-4 Core Values
- A bullet list of 3-5 Characteristics that Define Your Culture
WHY (Also Known As: Mission, Purpose)
Validity: Enduring
Question: What is our reason for existence? What is our fundamental belief or inspiration that we can all rally behind?
What it looks like:
- An emotional statement of belief.
WHERE (Also Known As: Vision, BHAG)
Validity: Decade(s)
Question: Where are we going? What are we trying to accomplish? What does it look like once we do?
What it looks like:
- A statement of aspiration
- A vivid description of what it looks like when you arrive.
HOW (Also Known As: Strategy)
Validity: Years
Question:What is our unique approach? How do we intend to arrive at our vision? How will we be different from those with who we are competing?
What it looks like:
- A statement of your unique value proposition
- A summary that defines your “strategic envelope”
WHAT (Also Known As: Product or Service)
Validity: Months or Years
Question: What is it that we do? How do we make money?
What it looks like:
- A list of products or services that will be offered to the market