Strategy – myth busting!
Strategy is very much used (perhaps over-used?) term in today’s modern business language…. but what is strategy?
If we take a moment to look at the dictionary definition: “a detailed plan for achieving success in situations such as war, politics, business, industry, or sport, or the skill of planning for such situations” (thanks to the Cambridge Dictionary for this definition)
This is just one definition, however if you look at any of the many definitions for the word ‘Strategy’ they all have planning or plan in common.
I’m a huge fan of the old saying ‘fail to plan, plan to fail!’, and not having a strategy in place, can be a bit of a wild ride, especially if like me, you’re a planner by nature.
When you are considering Strategy, it’s not a dark art and you don’t need a degree in quantum physics to understand what it means to your business.
When I’m thinking about strategy, I think of it as a road map to your business’s destination, that’s why it is vital to reconsider your strategy when you change your vision. It’s like setting off on a road trip and finding roadworks along the way and not changing your course, don’t sit in long queues wasting your time, if you don’t have to.
Another consideration when you are planning your strategy is to have contingency plans, I’m so planning obsessed, that even my contingency plans have contingency plans!
Strategy and planning isn’t for everyone, some people just do it and it all works out great but there is something to be said for working through your strategy and learning at each point, moving forward in a planned and conscious way, so that you can look back at how you reached your milestones or your objectives allowing you to emulate that journey and iron out any of the ‘roadworks’ or curveballs that caught you out.
A good strategy should be a useful guide to how your business is developing and shouldn’t be written, shoved in a drawer and forgotten about, it should help you shape your business plan and when used with your businesses vision should be your ‘sat nav’ in the business world.
If you need help articulating your business vision or just want to chat strategy you know where I am!
Written by Wendy Bell, Brightbell Consulting
