240. Strategic Quotients with Rich Horwath (Part 1)
Oct 19, 2023
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In this episode, Rich Horwath, Founder and CEO of the Strategic Thinking Institute, discusses the concept of a strategic quotient and its importance. He shares practical tools for becoming more strategic, explores the significance of purpose and time management, and emphasizes the importance of filtering out noise and focusing on core themes. They also discuss the importance of evaluating people based on actions rather than words alone.
Strategic Quotient (SQ) measures the ability to think, plan, and act strategically, highlighting the importance of strategic thinking in personal and professional settings.
Finding purpose and understanding core competencies are key to applying strategic thinking and choosing the right channels for strategic action.
Deep dives
The Importance of Strategic Quotient
The podcast episode discusses the significance of having a strategic quotient (SQ) in addition to intelligence quotient (IQ) and emotional quotient (EQ). SQ refers to the ability to think, plan, and act strategically on a continuous basis. The research behind SQ is based on assessments of acumen, allocation, and action. The average SQ score among the participants is 69 out of 100, indicating room for improvement. The episode emphasizes the value of strategic thinking and planning in both personal and professional settings, highlighting the need for individuals to understand their purpose, values, and goals when making strategic decisions.
Finding Purpose and Channels for Strategic Thinking
The podcast delves into the process of finding purpose and channels for strategic thinking. It suggests looking back at one's life to identify moments of fulfillment and engagement that align with personal values and goals. By recognizing the themes and behaviors that drove those experiences, individuals can identify areas of interest and opportunities to apply strategic thinking. The episode emphasizes the importance of understanding one's core competencies and capabilities in order to choose the appropriate channels for strategic action. Additionally, it highlights the value of mono-tasking and creating intentional relationships to capture value in personal interactions.
Strategic Planning vs. Strategic Thinking
The podcast distinguishes between strategic planning and strategic thinking, emphasizing the need for more strategic thinking in modern life. While strategic planning involves creating a plan, strategic thinking focuses on generating insight and bringing new value. The episode highlights the importance of dedicating time for thinking, gaining different perspectives, and considering purpose, goals, and competencies. It encourages individuals to adopt a business model for themselves, focusing on creating, delivering, and capturing value in their personal and professional lives. The episode also underscores the need to prioritize strategic thinking amidst a reactive and busy lifestyle.
Have you ever felt an intuitive insight pull you towards a particular direction? Have you ever had an experience that you knew was right even though you didn't yet have evidence to support it? Well, today is part one in a two part series with Rich Horwath. Rich is the founder and CEO of the Strategic Thinking Institute where he serves leadership teams as a strategy workshop facilitator, executive coach, and strategic advisor. By the end of this episode, you'll have the tools to figure out what you do well, and what you can stop doing in order to be more effective.