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IS IT TIME TO DO SOME BUSINESS SOUL SEARCHING?

Soul Searching SPOC Analysis for Strategic Planning: Strengths, Possible Improvements, Opportunities, ChallengesIt’s time for spring cleaning and business soul searching.

Business soul searching using the SPOC Analysis is a quick and easy way to assess where you’ve been, where you are, and anticipate the future.

 

What is Business Soul Searching?

“In the business world, the rearview mirror is always clearer than the windshield.”

~Warren Buffett

  • To better understand where you are in business it’s helpful to know what got you here.
  • When you are clear about your current position you can more effectively chart the best course to achieve your company’s values, mission, and vision.
  • During the past 35 years I have guided companies through a quick and simple discovery process I call the SPOC Analysis (a derivation of the SWOT Analysis).
  • The SPOC analysis offers a great, revealing way to assess where you are right now and then to scan the business environment in order to anticipate the possibilities that might present themselves on your journey toward achieving your values, mission and vision.
  • It also identifies key areas that you may want to focus attention upon in the form of goals, objectives, or strategies.

Here’s how the SPOC Analysis process works:

  • STRENGTHS – What are your organization’s Strengths?

    • These are the areas in which your organization does well, in which you excel.
    • Capitalize on these strengths, and your organization will prosper, your teams will maximize their potential, and your employees will be productive and fulfilled.
  • POSSIBLE IMPROVEMENTS – What Possible Improvements would help your organization to be more successful?

    • These are areas in which you may presently be experiencing some deficiencies.
    • When guiding leaders through this segment of the SPOC analysis, I prefer to coach them to be proactive in identifying what needs to be improved to achieve their core purpose, core values, mission, and vision more quickly and effectively.
    • These deficiencies act as speed bumps, slowing your progress.
  • OPPORTUNITIES – What potential Opportunities could be seized to move your organization toward accomplishing its mission and vision?

    • These ideas are most likely untapped activities and projects, or knowledge and skill-building events.
    • Taking advantage of these opportunities will accelerate your progress toward success.
  • CHALLENGES – What Challenges may need to be overcome?

    • Consider them as obstacles or roadblocks standing in the way of achieving success.
    • These challenges could even be showstoppers for you and your company.
    • Like water flowing along a rocky stream, you will need to find creative solutions to make your way over, around or through these obstacles to realize your mission and vision.
  • TRENDS – What Trends are emerging in your industry that you need to consider in your planning?

    • If they didn’t surface when you were brainstorming the “Opportunities” and “Challenges.”

Answers to these five questions will help you to identify goals, objectives, and strategies on which to focus your organization’s energy and attention.

Much success and fulfillment,

Ray

 

If you enjoyed this article, I think you’ll also enjoy these articles too:

Also, check out my FREE online class will shine more of a light on Goal Setting and other elements of strategic planning…

Click this link to my resources page to get access to my FREE Strategic Planning 101 online class.

I am happy to talk if you have questions or want assistance with strategic planning. Click this link to schedule a free 30-minute energizer Zoom call.

 

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