Key6 - Strategy

Strategy. Plan to achieve one or more goals under conditions of uncertainty.

Think of your strategic plan as the wiggly line that guides your vision to an outcome.

Strategy in all of it’s forms provides structure and context to your goals. Whether Growth Strategy, Brand Strategy or Marketing Strategy, they all need to be backed up with execution.

All businesses need a sound strategic direction to ensure they meet their potential. It is assumed that the strategic element of growing a business is complex and requires specialist skills. In some ways that is true, but it can be the simplest task. If you know where you want to get to thats half the battle. Next is to reverse engineer the way you get there.

When it comes to the content and focus of your strategy that comes with some basic requirements. Your key goals over the lifecycle of the business will be important. If you intend to exit the business versus build and maintain, your timing and activity will be different.

A robust strategy will demand you understand what is required to meet your goals daily, weekly, monthly, quarterly, annually, 3 years, 5 years etc etc. Bear in mind your strategy will change as you meet those milestones and markets evolve, as will your business.

Creating A Strategic Plan.

If you are planning to start a business or looking to solidify your current business direction the most important starting point is the end goal. Scale, revenue, profit, impact, exit … whatever it may be and think about what steps will take you there.

Implementing Your Plan.

Don’t create a plan that is beyond your capacity to deliver. Create your plan with the full intention of executing on it. Bite size chunks, get support, ensure you have enough resource, give yourself enough time and above all else be patient!

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% Success Rate Of Strategy Not Executed
Strategic Planning by Jack Welch

In reality strategy is actually very straight forward. You pick a general direction and implement like hell.

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