Here are 10 simple tips to guide your strategic planning for the coming year.

By David Finkel Co-author, Seven Proven Principles to Grow Your Business and Get Your Life Back’ @DavidFinkel Credit: Getty Images

Strategic planning is essentially making the tough decisions on where to invest your business’s resources … Here are ten tips to do it better.

What is your single biggest “limiting factor” inside your business? In other words, what one limitation is currently doing the most to limit the growth and success …What are 10 potential ways to push back or make your limiting factors less limiting for your business? 

Now Go back through your list of 10 “solutions” … Go through your list of 10 “solutions” and note each solution that is a “home run”.

• Determine your “sweet spots”. More from David Finkel Going back to your above list of 10 solutions to each of your limiting factors, circle the solutions that are both a low hanging fruit and a home run. These are your “sweet spots”.
• Clarify the business you are trying to build. Too many business owners never stop and clarify in writing …
• Work backwards from your target.
• If you’re not sure how to best reach your subgoals, brainstorm a long list of at least 10 potential ideas. Use the “sweet spot” technique … For the balance of the 10 solutions,  great idea and resources go here.