1. Set a goal before GMAT Prep :- This is the first major strategy you need to begin your prep for GMAT. If you have seen interviews of any successful person you will notice he will firstly ask you to set a goal for the task which you need to achieve. According to me for setting a goal for GMAT go to market and buy a long white chart paper and color pens.
On that white chart paper list down all topics and subtopics of GMAT and also make different color boxes in front of every topic. For example if you are very confident of some topics mark it with green boxes whereas if you are scared of some topic mark it with red color boxes. This way you can keep track of every topic. You would be wondering why I have recommended white chart paper instead of soft copy in form of excel sheet which is easy to make but reason behind this is when you are maintaining hard copy and paste it in your study room you will see that paper daily which will remind you of the target that you have to achieve. People generally forget to open soft copy daily and maintain it.
2. Reading GMAT Forums :- GMAT forums are blessings for students who are attempting the test. Forums like Beat the GMAT, GMAT club, Quora will provide you a lot of people struggling through similar type of problems and creative solutions.
When you start going through these forums, you will find new tricks which have worked for many students. The reason I recommend these forums is they provide multiple solutions to any problem you asked them which prove to be very handy for us.
3. Process of Elimination :- This is the most common method which is being followed in every competitive exam. Elimination can be done on few questions as they are difficult to solve by regular process.
The key way to the process of elimination is guessing the correct answer. It is also helpful for the questions which you cannot allot specific time in the end.
4. Practice Time Management :- This is the most important strategy which every GMAT prep student should follow. While in starting you won’t be able to restrict yourself to time management as you are in learning phase and understanding concepts but as the time passes you should restrict yourself to specific time. Every student should take time restricted mock test at home till the time he is not comfortable with the specific time limit which is there in actual exam of GMAT.
5. Strengths and Weaknesses :- I always recommend skipping and guessing few questions on GMAT which you don’t understand. Every student should know his strengths and weaknesses.
GMAT test on numerous concepts in every section from statistics, geometry to data interpretation and grammar. But it is not possible for a student to have a firm grip on every topic.