Speaker 1: Hi everyone, it's Janis here and in this video, we will explore what is strategic planning. To achieve your goals in the quickest possible way, you have to become strategic about them. If this is your first Summoner's channel, then make sure you subscribe and hit the bell icon to get updates on my latest videos about time management and productivity. Strategic planning is the process of defining its strategy or direction and making decisions on allocating resources to pursue this strategy. Strategy generally involves setting strategic goals, determining actions to achieve the goals and mobilizing resources to execute the actions. And while it might sound like something to do with big organizations, it can be used at the personal level as well. You have to be strategic about your health because if you want to stay healthy, then you have to plan your meals accordingly. You have to be strategic about your fitness to make sure that you are in good physical shape and the same goes for your relationships and other areas of your life. Of course, the most important area where strategic planning plays a major role is in your business. You have to be strategic when it comes to planning your business and executing strategies to achieve your goals. There are many moving components when it comes to your business like products, operations, marketing, accounting, etc. And it will be your job to make sure that all these things are taken care of in the most efficient way possible because you have to remember that there will be competition in the market. If you don't manage your resources, team, money, software in a most efficient way, then you will be pushed out of the market and your business will fail. The best approach to become strategic is to sit down and come up with a written plan of what steps you are going to take in order to achieve your desired goals. I hope that you enjoyed this video and I was able to give you a quick summary of what strategic planning is and what role it plays in our life. If you enjoyed this video, I would really appreciate if you could press the like button as this will help the video reach more people and spread the message.