I have been running my consulting business for over 18 years now. In that time, I’ve been fortunate to have worked with over 90 different companies, in more than a dozen different countries and have run literally hundreds of strategy workshops and meetings. So, I think I have a fair view of the differences between those leadership teams that develop and lead winning strategies and those that struggle to make a difference.
Here are five actions that set the winners apart from the also-rans.
- They spend time clarifying the challenge. They seek to understand where the business is and where it is heading. They welcome diverse views and use a fact-based approach to build up a genuine and grounded understanding of the company’s strategic position, its issues and its opportunities.
- They make choices. Winning businesses don’t try to be all things to all people. If they’re focused on offering the very best products, for example, they realise that the company will not also be the lowest cost provider. They also make choices about their priorities and, as my business coach puts it, ‘move three things a mile, not a hundred things an inch.’
- They create and communicate a simple strategic message. The whole organisation is aligned behind the strategy, which is broken down into a series of simple messages that people can understand, engage with and pursue with energy and purpose.
- They have a clear #1 goal. All businesses have lots of objectives and targets. But the most successful companies clarify their top goal and align their organisation behind it. It becomes an integral part of their simple strategic message and enables everyone to understand where the company is on its strategic journey.
- They follow-up. Strategy reviews aren’t done on an annual or even quarterly basis. Instead, the strategy is hardwired into the organisation’s ongoing performance and accountability systems. As a result, if something isn’t working it’s either changed or stopped, but the overall strategy will remain constant over a 3-5 year period.
Which of these five actions does your business take and which are areas for improvement and focus?
Off The Record: Big Decision by That Petrol Emotion
You’d rather sail the ocean,
Thank make a big decision!
You’d rather sail the ocean,
Thank make a big decision!