A bit like a savings plan – a cohesive Strategy is one of those things that everyone agrees you SHOULD have, but a lot of businesses just never get around to putting in place.
And why would you bother? The truth is there are a lot of VERY SUCCESSFUL businesses out there that have been around for a long time without a whiff of a strategic plan. Seriously. No plan at all. I come across these businesses all the time and what’s more they tend to be:
- Well established and profitable
- Specialists in their field with good credibility
- Have loyal and capable staff
Where do you sign up right? How can your business have all these hallmarks of success without having to bother with a strategy?
Here’s how they do it:
- Firefighting – who needs the perspective afforded by a strategy. Isn’t it better to jump into EVERY fray on the off chance each issue is ‘the thing’ that derails your business?
- Task focus and control (aka micromanagement) – since it’s a bit difficult to provide leadership but focussing on outcomes when you don’t have a clear vision let’s instead focus on BS non-probems!
- Band aids not Vaccines – blamestorming is the name of the game. Focussing on the specifics of the problems and minutae gives a sense (illusion) of progress and control.
- Mask issues – Working around problems rather than through them is easier in the short term gives us more ways to micromanage. Good times!
So these successful businesses without a Strategy look great from the outside in – but from the inside out it’s clear they’re doing it the hard way, and losing sight of WHY they’re doing it all in the first place!
See – the whole purpose of a strategy is to make your business work smarter FOR YOU – rather than you working harder. The right strategy executed in the right way creates a self-sustaining momentum that allows you to ‘ride the wave’ rather than paddling hard to get where you want and need to go.
So if a Strategy does all these good things then why doesn’t everyone have one?
Again – a bit like a savings plan there’s always some other ‘shiny thing’ that prevents us buckling down and doing what we KNOW is the best thing for us in the long term. Running a business is hard. It’s relentless. It’s all consuming. You’re so busy coping with the ups and downs – making sure the ins keep coming in and the outs are on time and fit for purpose… you haven’t the time or energy to add yet more work to your plate. So you set goals, you check milestones and you drive, drive, drive the operations… but are you actually clear on where you’re going?
If you’re feeling duped (because I told you how to run a business without a strategy and now I’m telling you that you need one after all….) don’t. I‘m serious that you don’t need a strategy – at least not what YOU THINK a strategy looks like.
Building a strategy from scratch is simple. Ask yourself these three questions about your business as a whole:
- When I think of the future what ONE THING is most important? (growth, profitability, an exit strategy, innovation…. Whatever floats your boat!)
- Do I have the ingredients to make that happen? (If not – create a shopping list!)
- What’s the FIRST step I can take? (no matter how small – ANY step in the right direction is a good one)
Then rinse and repeat for each department and metric that’s important in your business… and that’s how you run a successful business without a strategy.