It’s easy to fall into the trap of thinking you’ve got a business strategy. In reality you might only have a series of tactical plans or goals behind which there is no actual strategy.
Without a real strategy, you’re at the affect of whatever’s happening at the time. Your goal-setting and decision-making will become tactical responses.
Strategy is about establishing a deliberate and significant way forward. It’s about resource allocation and making precise choices. It’s not haphazard or knee-jerk. It’s calculated and intentional.
Strategy is about a clear a definitive path to follow. A path that will guide you away from those enticing tactical responses. This makes it easy for you to figure out what to say “no” to.
Why Most Strategies Fail
Let’s assume that you do have a genuine business strategy. It’s quite a milestone to have this mapped out. But it’s only part of the picture. Your strategy is no good unless you put it in place. This is often one of the biggest challenges for business owners.
Research shows that 90% of strategies fail due to poor implementation. What do you think your chances are? How are you going to do to make sure your business strategy doesn’t end up in that 90%?
You may need to bring new disciplines to the table. These will enhance your ability to put your strategy in place – now and in the future.
A Winning Strategy Needs To Include:
1. A Vision –
What would your business look like and be like if it were completely successful? What would have to be present, and how would you know when you had it?
2. A Strategic Plan –
What do you need to put in place to achieve your vision? What components does it have to have? What people and resources will you need to utilise?
3. An Implementation System –
To ensure you get done what needs doing. This will not happen overnight. It will need your determination to get it done … in small, consistent, bite-sized pieces.
“Strategy without tactics is the slowest route to victory.
Tactics without strategy is the noise before defeat.”
Sun Tzu (Chinese General, circa 500 BC)
Read our Free Special Report: How To Choose The Right Coach For Your Game (and where to find him)