Custom fields allow you create powerful workflows by adding more columns to your initiatives such as:
The People Custom Field
You can use the People type custom field to assign initiative to a specific team member. It allows you to visually see who is responsible of what and give ownership of tasks to your team.
Using the people column you can create power workflows like adding Primary owner, Design, Developer, Content writer and such who contribute to that initiative. they can then use the dropdown custom field to update their respective status too.
The Dropdown Custom Field
The Dropdown custom field can be used to create status fields which allows teams to visually see of the progress of your Initiatives. The Dropdown custom field can also be used set priority or any other category for your initiatives.
The Date Custom Field
The Date Custom Field can be used to track specific workflow milestones, for example a Design timeline or a Development timeline.