Here are 10 questions that can be used to help develop a strategic plan:
- What are our primary customer segments today—the people for whom we are trying to create the most value? What will they be in five years or ten years? (Pick a planning horizon.)
- What is our current business model? How does it translate into profitability? How will it change in five years?
- What trends are affecting our customers? How will they perceive the value of our products and services changing over the next five years?
- What alternatives to our products and services do our customers have? How are those alternatives changing?
- Are we focusing on the right customers? Are our competitors also focused on the same customers? What would happen if we shifted our customer focus?
- What could we do more of (or less of) to create increased value for our customers?
- What might be some essential innovations in our way of doing business that would create added value for our customers? How could we redefine our way of doing business?
- Based on the above, what should be our vision? What outcomes are we trying to achieve? What are the rationales for that vision?
- Based on the above, what is our internal plan—how do we envision our organization changing over the next five years to support our vision?
- What are the major priorities for change and investment we need to make in order to realize that vision?
Related Tool: Keys to Successful Strategic Thinking