I’ve been running my consulting business for over 16 years. In that time, I’ve worked with over 50 different organisations in more than a dozen countries. Most of my client work has focused on strategy – both its development and execution – and I’ve been thinking about the common issues I’ve come across.
I’ve found that there are 11 fatal flaws that commonly prevent leadership teams from establishing and executing a winning strategy. The flaws are common to both small start-ups and corporate giants and can be found across different product and geographical markets. Which of the 11 are preventing you from developing and delivering a successful growth strategy for your business?
- Confusing strategy and planning.
- Insufficient time and effort spent on framing the key challenges and opportunities facing the organisation.
- Failing to set clear, compelling strategic objectives and goals.
- Incremental thinking.
- Putting financials ahead of ideas.
- Trying to keep everyone happy rather than making clear trade-offs.
- Confusing strategic moves with tactical actions.
- Insufficient focus on organisational engagement and commitment.
- Trying to do everything at once.
- Failing to prepare for or manage downside risks.
- Failing to follow through or establish accountability for delivery.
Off The Record: Won’t Get Fooled Again by The Who
Pick up my guitar and play
Just like yesterday
Then I’ll get on my knees and pray
We don’t get fooled again