Personal Strategic Planning – Design Your Life and Career
Personal strategic planning is very similar. However, instead of return on equity, personal strategic planning is aimed at increasing your return on energy. Put another way, it is to increase your return on life. The equity in a business is measured in terms of financial capital. Your personal equity, on the other hand, is measured in terms of your own human capital.
Your personal equity is composed of the mental, emotional and physical energies you have to invest in your career. Your goal should be to get the very highest return possible on the investment of yourself in everything you do. How well you invest yourself determines your income. This is the point of personal strategic planning.
You can tell that it is time to revisit your strategic plan when you are no longer getting the kind of results you want from your work or from your life. Whenever you feel frustrated or dissatisfied, for any reason, this is often an indication that you should sit down and ask yourself some good, hard questions. Whenever you experience resistance or stress, or you find yourself working harder and harder only to feel that you are getting fewer and fewer rewards, you should stand back and consider revising your strategy.
The fourth question is this: “What is it that I do especially well?” What is your area of excellence, your area of superiority? What is your personal competitive advantage over the other people in your field?
This is a vital question in personal strategic planning. You will be truly successful only to the degree to which you become excellent at the most important part of your work. One of your chief responsibilities in life is to select the area of excellence that can have the greatest positive impact on your career and your income, and then throw your whole heart into becoming very extraordinary in that one area.
In his book, Competing for the Future, Gary Hamel points out that the top companies are those that project forward five years and then identify the core competencies that they will require at that time to dominate their industries. They then implement a development plan today to assure that they have those core competencies in place when the future arrives.
You should follow this strategy as well. What are the core competencies that you will need to be in the top 10 percent of your field three to five years from now? How do they differ from your key skills today? What can you do today to begin developing those additional skills and abilities? Whatever competencies you will require to be the best, set them as a goal, make a plan and begin working on developing them every day.