backAll Articles

Published January 20, 2022 at 11:17 AM

Strategic Questions for 2026 and Beyond

5 min read
Strategic Questions for 2026 and Beyond
3:32
5 min read
Strategic Questions for 2026 and Beyond
3:32

Key Takeaways

  • Keeping your head in the weeds, putting out fires and solving the problems right in front of you, leads to a never-ending game of whack-a-mole; annual planning is the time to step back and ask strategic questions.
  • Work through five areas: Culture (how to recruit and retain top talent), Customer (has your core customer or their needs changed), Products (do you have a diamond in your backyard to monetize), Competition (what can you offer that's unique), and Vision (do you have a BHAG).
  • A longer-term vision like a 10-year BHAG actually makes short-term decisions easier, helping you decide what to say no to and attracting people who are passionate about where you're headed.
  • Revisiting your core strategy to confirm it's still relevant gives you a roadmap for growing with purpose, whether you do it in your Annual Planning Session or in a few hours of focused think time.
  • The key to effective strategy work is execution: decide on a few key priorities, communicate them to the whole company, and stay focused, aligned, and accountable for getting them done.
As companies set budgets and priorities each year, you may be tempted to keep your head in the weeds; putting out fires and solving problems right in front of you will lead to a never-ending game of whack of mole and keep you from moving forward in a meaningful way. You need to step back and consider some strategic questions as you plan for 2026 and beyond.
 
Here are some prompts to help you think more strategically:
 
  1. CULTURE: We're all tired of hearing buzz words like "war on talent" and "great resignation" but the reality is that if you aren't thinking differently about how to recruit and retain top talent, you'll get left behind. How can you keep your culture strong when teams may be working remotely or in a hybrid setting? How can you leverage your Core Purpose and Values to attract candidates in a highly competitive market? How can you reinforce and strengthen what your current team members love about your company culture so they never want to leave?

  2. CUSTOMER: Has your core customer changed? Have their needs? Many companies had to pivot their service offerings (going virtual or offering delivery or switching to direct to consumer, for example). If you have new infrastructure in place, can you use it to go after a new market segment? Is your core customer from 2 years ago still the one that you can service most profitably? If you still have the same customer, what about their needs? Life may look very different for them now; how can you anticipate their needs and evolve to meet them?

  3. PRODUCTS: Do you have a diamond in your backyard that you could monetize? Have you figured out a unique solution to a problem in the market that other companies in other industries would pay to solve? Do you have a problem that another industry has solved; could you partner or merge to bring an innovative solution?

  4. COMPETITION: When things feel uncertain, it is tempting to look around, see what everyone else is doing, and do the same thing. If you resist that temptation, what could your company offer that's unique? How can you solve a problem for your customers that your competitors are not willing to solve? How can you set yourself apart?

  5. VISION: Short-term thinking seems attractive when you don't know what's coming. But, making those short-term decisions is actually easier when you have a longer-term vision. Do you have a BHAG (or Big Hairy Audacious Goal) that inspires your team to achieve greatness in the next 10 years? Setting a longer-term strategic goal will help you decide what to say no to in the short term and help you attract and engage people who are also passionate about the vision (see #1 above!).
 
Slowing down to revisit some elements of your core strategy, ensuring they are still relevant and make sense, will help you survive whatever unexpected storms come your way next year and give you a roadmap for growing with purpose. Whether you take think time in your Annual Planning Session with your executive team or just carve out a few hours for yourself to focus and think deeply, working on the business rather than in the business will set you up for success.
 
As always, the key to effective strategy work is in the execution. So, once you've worked the questions above, decide on the few key priorities to do in 2026, communicate them to your whole company, and remain focused, aligned, and accountable for getting them done. Good luck!
 

Frequently Asked Questions

What strategic questions should leaders ask during annual planning?

Work through five areas. Culture: how do you recruit and retain top talent, and keep your culture strong in remote or hybrid settings? Customer: has your core customer or their needs changed? Products: do you have a diamond in your backyard you could monetize? Competition: what can you offer that's unique rather than copying everyone else? Vision: do you have a long-term goal that inspires your team?

What is a BHAG and why does it matter?

A BHAG is a Big Hairy Audacious Goal, a longer-term strategic goal that inspires your team to achieve greatness in the next 10 years. Short-term decisions are actually easier when you have a longer-term vision, because it helps you decide what to say no to and attracts people who are passionate about the same destination.

How should you think about your core customer during planning?

Ask whether the core customer you served two years ago is still the one you can service most profitably, and whether their needs have changed. If you built new infrastructure during a pivot, consider whether you can use it to go after a new market segment, and think about how to anticipate your customers' evolving needs.

How do you respond to competitors when things feel uncertain?

Resist the temptation to look around, see what everyone else is doing, and copy it. Instead ask what your company could offer that's unique, and how you can solve a problem for your customers that competitors are not willing to solve. That's how you set yourself apart.

What should you do after answering the strategic questions?

Execute. Decide on the few key priorities for the year, communicate them to your whole company, and remain focused, aligned, and accountable for getting them done. The key to effective strategy work is in the execution.
Picture of Jessica Wishart

Jessica Wishart
Jessica is Senior Product Manager at Rhythm Systems. She has experience in Client Services and Rhythm software technical support. Her background is in Organizational Execution.
LinkedIn Connect with me on LinkedIn.