Mission planning in the SEAL Teams always took one of two routes: deliberate or hasty. Deliberate planning assumed a longer term approach (greater than 48 hours) whereas hasty planning was for anything within a 24-hour period — with some missions as soon as now.
While both planning methodologies entailed the same three criteria — time, resources and requirements — two significant differences determined which approach to use: the immediacy of the demand (essentially, the threat) imposed by the enemy (or competitor), and the accuracy of information we had to plan.
For the entrepreneur, it’s tempting to vie for the hasty approach, be like Nike and “just do it,” with hopes that your product will just take off into newfound success. Chances are, however, that it won’t. At least, not without doing the due diligence that gathers enough information to formulate an impenetrable business plan.
To the extent that you can do a thorough, deliberate analysis of the industry, do it. There are tons of free tools that can guide you through the process. In the meantime, here are three simple business analysis tools to help you identify what distinguishes your brand from the rest:
1. PEST
Not to be confused with animals or people, PEST is a way to analyze the big picture changes within your industry to identify growth opportunities. Specifically, the acronym stands for:
Another variation of PEST is PESTLE, which includes the legal and environmental considerations. If you’re stuck on where to begin, start by segmenting each factor into the five W’s — who, what, when, where, why — then unleash the (mental) fury from there.
2. SWOT, the enhanced version
While PEST offers a macro-level view of the competitive landscape, SWOT is typically used at a more micro level to analyze a specific business, product or service. Here’s the value of SWOT:
Here’s the secret to maximizing the value of a SWOT analysis: Pit your strengths against your opportunities and use the result as leverage points to build greater value. Place your weaknesses against your threats and use the byproduct as defense points. This way, weaknesses don’t diminish and strengths become stronger based on emerging opportunities.
3. 7S model
Unlike the aforementioned tools that are generally used for external analysis, the 7S model looks inward at your own company. Developed by McKinsey & Company, the seven S’s of strategy, structure, systems, style, shared values, staff and skills demonstrate why organizations don’t operate as a group of independent silos but rather as a network of interconnected parts.
Imagine an octagon and place an S at every vertex, except for “shared values.” Shared values belongs in the center of the octagon because, well, they’re shared. Now, draw a line from each vertex to another such that each S is connected to another and you see how each component is inextricably linked to another.
Writing a business plan doesn’t have to be agonizing — there can be some fun in doing it. More so, the simple act of writing out your business plan through the aforementioned perspectives will reveal previously unconsidered insights that will set you up for success.
This article originally appeared on Entrepreneur.com
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