Strategic planning wisdom from three Kiwi entrepreneurs
1st November, 2017
Done right, strategic planning can set your business up for long-term success.
The problem is that too many business owners get stuck working in their business – rather than on their business.
The NZ Innovation Council, in collaboration with MYOB, tapped the insights of three of NZ’s top entrepreneurs to get their thoughts on the challenges of scaling and the importance of strategic planning.
Here’s what they had to say:
Find your North Star – Kendall Flutey, Banqer
“Our strategic planning starts with our mission…so every decision we make we use that as a beacon. So whether it’s managing our resources or entering a new market we reflect back to that.”
Focus on the customer – Dr Bruce Davey, ARANZ Medical
“For us it all starts with what problem the customer is experiencing, why they need a solution and what we can do for them. The what and the how come from that, but it’s focused on the fundamental problem we’re trying to solve for them.’
Be adaptive – Jessica Venning-Bryan, Flick Electric Co.
“[T]he big challenge for an agile, fast-growing business is that people are traditionally used to planning on really long cycles…we write a business plan in January and by March it’s different. So strategic planning is about having a really great view of the future, but also being really adaptable to changing it with: different circumstances; technology; availability of resource; opportunity; and being really adaptive.”
Check out the full video, below.