We All Have Potential
We all make plans. But do we do this in an efficient and calculated manner? Strategic planning is usually used to improve business results, but we can apply the same methods to improve and develop our skills and maximise our potential.
It’s very important that we first think about what our business strategy is and define this with clear objectives and plans. Then we can think of how these objectives will be achieved. Let’s start by thinking about our own personal skills. We all have strengths and weaknesses, and strategic planning helps us to manage these so that our skills and competencies are used to our advantage.
How Do We Maximise Potential?
So, how can we use strategic management to maximise our potential?
We can start with a SWOT analysis. Make a list of your key strengths, weaknesses, opportunities and threats. For example, your strength could be that you have excellent presentation skills. Your weakness might be that you are poor at time-management. An example of an opportunity could be that the covid-19 lockdown has allowed you to interact and connect with more people in a shorter space of time via virtual meetings. A potential threat could be that you are unable to do more business due to the lockdown and you therefore may struggle if it continues for another few months.
Using Your SWOT Analysis
Now, we want to use our SWOT analysis to create a system which will build on our skills. This allows us to develop strategies that will maximise our strengths, reduce our weaknesses, take advantage of opportunities and mitigate threats.
Using this matrix, you should be able to improve yourself and maximise your potential by identifying the opportunities from the SWOT analysis and choosing which ones to follow through with. The key here will be to use your strengths to utilise those opportunities, and use the opportunities to manage the threats from the external environment. You can use your strengths to help manage the threats and design strategies to work on your weaknesses.
Maximising Potential Through Virtual Networking
Using our example SWOT analysis: you can build on your strength of pitching by utilising the opportunity of virtual networking. This can help mitigate the potential threat to your business because you build more and more connections. In turn, you will increase the chances of gaining business referrals.
Finally , use the opportunity of increased networking to manage your time well.
Take Action Today
Strategic management is essential for long-term business success. It helps you to maximise your potential by helping you to create plans that are tailored to drive you to succeed in your business.