Critical challenges in Strategic Planning

Keerthana By  January 10, 2024

Hello everyone!

Today, let’s talk about something super important for any business, big or small: Strategic Planning. Think of it like drawing a map before a long journey. If your map is clear, you reach your destination easily. But what if there are hidden bumps on the road?

Even the best plans can hit roadblocks. In our work helping businesses across Tamil Nadu, we’ve seen common challenges. Let’s look at them simply, so even a 10-year-old can understand!

1. Not Having a Clear Goal

Imagine you want to go on a trip, but you don’t know if you’re going to Kanyakumari or Chennai. How will you pack? How will you book tickets?

Many businesses face this. They want to grow, but they don’t have a clear number or direction. This makes planning very hard.

  • The Problem: Vague goals like “we want more sales.”
  • Our Experience: We worked with “Kumar Textiles,” a lovely textile shop in Madurai. They just wanted “more business.” We helped them sit down and say, “We will increase our online sales by 50% in the next 12 months.” This clear goal changed everything! They knew exactly what to aim for.

2. Not Knowing Your Customers and Market Well

If you sell ice cream in Antarctica, will you make much money? Maybe not! You need to know who wants your product and what’s happening in the market around you.

Sometimes businesses guess what their customers like, instead of truly finding out.

  • The Problem: Selling without understanding who buys or what rivals are doing.
  • Our Experience: “Amma Foods” in Coimbatore made tasty snacks. They launched a new ‘murukku’ thinking everyone would buy it. We helped them talk to real customers. They found out that working mothers (ages 25-45) were their main buyers, and they wanted snacks that were both tasty and healthy. This helped “Amma Foods” change their ads to focus on ‘healthy snack for your kids’ and they sold much more!

3. Not Doing What You Planned (Poor Execution)

You have a super map, but you don’t follow it. What happens? You get lost! A great plan is useless if it’s just a piece of paper.

Many companies make wonderful plans but then struggle to put them into action.

  • The Problem: Plans look great on paper but don’t happen in real life.
  • Our Experience: “Chennai Electricals,” a big supplier, had a fantastic plan to open new branches. But their team wasn’t ready. They didn’t know how to use the new computer systems or talk to new types of customers. We helped them train their staff step-by-step. We made sure everyone knew their job and had the right tools. Slowly, the plan came alive, and they opened successful new branches!

4. Not Looking at Your Competition

Imagine you’re playing a game, and you only focus on your moves, never looking at what the other player is doing. You might lose!

Some businesses forget to see what their rivals are offering or how they are attracting customers.

  • The Problem: Ignoring what other businesses like yours are doing.
  • Our Experience: “Prakash Shoes” in Tiruchirappalli was a famous shoe shop for years. But their sales were going down. We helped them look at a new, trendy shop called “Metro Footwear” that had started selling modern shoes online with quick delivery. “Prakash Shoes” then started offering new designs and even began taking orders on WhatsApp for home delivery. They learned from their competition and started winning back customers!

So, What Can We Learn?

To make your strategic planning successful, remember these simple steps:

  1. Always have a clear and simple goal.
  2. Always understand your customers and market deeply.
  3. Always make sure you put your plans into action, step by step.
  4. Always keep an eye on your competition and learn from them.

Strategic planning doesn’t have to be complicated. By avoiding these common bumps, your business can drive smoothly towards success, just like our clients in Tamil Nadu have done!

If you need help drawing your business map, reach out!

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