Planeación Estratégica-Narciso Vásquez

Summary

In this video, Narciso Vázquez from the Dominican Republic discusses the importance of strategic planning for entrepreneurs and businesses. He emphasizes aligning available resources with market opportunities and outlines essential questions to guide the planning process: what, how, where, when, who, and why. Vázquez explains that strategic planning is critical in today's challenging market to ensure success and avoid business failure. He also highlights the necessity of knowing your goals, resources, and market conditions to make well-informed decisions and achieve long-term success.

Takeaways

• 😀 Strategic planning is about aligning the resources you have with the opportunities available in the market.
• 😀 Entrepreneurs should ask key questions: What, How, Where, Who, When, and Why before starting any plan.
• 😀 Strategic planning is crucial for both new entrepreneurs and established businesses, especially in tough economic times.
• 😀 Knowing what resources are available is essential for effective strategic planning.
• 😀 Entrepreneurs need to know the market they want to enter, what they will sell or produce, and who their partners will be.
• 😀 Understanding why you're developing a business plan is key—without a clear purpose, the plan won't succeed.
• 😀 A popular saying goes: 'You should only cover yourself with the blanket as far as it stretches.' This emphasizes planning with available resources.
• 😀 If your pantry only has basic ingredients, you must plan meals with what you have—this is similar to running a business with limited resources.
• 😀 Many entrepreneurs fail because they don't know what resources they have or where they're headed, which makes their journey difficult.
• 😀 A well-developed strategic plan is essential in today's competitive and challenging market environment.
• 😀 It's easy to lose money if you don't have a strategic plan, as poor planning can lead to business failure, even with initial effort and investment.

Q & A

What is the concept of strategic planning according to the speaker?

Strategic planning is about aligning the resources of an individual or a business with the opportunities presented by the market in order to develop a successful plan.

What are the key questions one must consider when developing a strategic plan?

The key questions to consider are: What, How, Where, Who, When, and Why. These questions help structure the plan and ensure all necessary aspects are covered.

Why is strategic planning crucial for entrepreneurs and business owners?

Strategic planning is important because it helps entrepreneurs and business owners navigate the challenges of starting and running a business. It helps organize resources and plan for success.

How should an entrepreneur approach market selection for a new business?

An entrepreneur should carefully choose the market they will target based on available resources and opportunities, ensuring their business model aligns with market needs.

What does the speaker mean by 'you should make your plan based on what you have available'?

The speaker is emphasizing the importance of creating a plan based on the resources you have, not on what you wish you had. This includes making use of current inventory or capabilities, like making meals with what’s in your pantry.

What advice does the speaker give about financial resources in business?

The speaker warns that while acquiring money may seem easy, it is often difficult. Without proper strategic planning, a business can easily fail, even if money is initially obtained.

How does strategic planning help in controlling business resources?

Strategic planning enables business owners to organize, direct, and control resources effectively. By understanding and managing these resources, businesses can better achieve their goals.

What is the impact of not having a strategic plan on a business?

Without a strategic plan, all the efforts put into starting and running a business could be wasted. It can lead to failure as resources are not properly allocated and managed.

Why does the speaker emphasize knowing why you're developing a business plan?

Knowing the purpose behind the business plan is critical. If you don’t understand why you're creating the business or what you're trying to achieve, the journey will lack direction, leading to failure.

What does the speaker mean by 'plan for your business like you would plan a meal with what you have'?

The speaker compares strategic planning to preparing a meal with what you have in the pantry. The idea is to make do with the resources available and not overspend or plan beyond your means.