I wanted to be a fighter pilot when I was a young boy growing up in New Zealand. That was my first BHAG. I joined the Air Training Corps as a cadet as soon as I was old enough. I learned to fly solo in a glider when I was in high school. I studied math and physics because I knew you needed that to be a fighter pilot, and, as soon as I was old enough, I applied to join the NZ Air Force.
And Why Your SWOT Analysis Comes Last
Maintaining focus with your SWOT (don’t go chasing squirrels).
As mentioned in the last post in this series, your SWOT Analysis (an analysis of your Strengths, Weaknesses, Opportunities, Threats) should be updated every quarter to ensure it is an accurate reflection of your current operating environment. The pace of change is increasing and you need to keep ahead of it.
Creating your SWOT analysis means addressing the Elephant in the room.
As mentioned in SWOT Analysis – part 1, you need to start with a clear strategy, before you even look at doing a SWOT Analysis.
Then you need to keep the concept of “Dual Vision” in mind. Strategic planning requires us to look at how to improve our current business - “improving what is”, balanced with what we need to build to succeed in the long term - “creating what will be.”
Don't do a one-eyed SWOT.
Early in my business career, (prior to joining RESULTS.com) I had the experience of having external consultants come into my firm to do “strategic planning” with us on an annual basis.
We would go to an offsite meeting. They would start by having us do a SWOT analysis (an assessment of company Strengths, Weaknesses, Opportunities, and Threats), and then we would create a long list of action items and go back work and do our best to get these things done – with varying levels of success.