In business, you either know where you’re going, or you’re lost.
As I write this, there are 27 days left in this decade. That’s plenty of time for you to create a strategic plan and to figure out how to implement it before the next decade begins.
I could quote facts all day long and prove to you that executing a strategic plan is by far the most effective way to run any business, and I will.
But first, let’s talk about the intangibles.
When you have a strategic plan, you feel more confident in your business and in yourself. You know where you’re going. You know how you’re going to get there. You know how every person in your company contributes. Little emergencies and problems stop consuming your attention. You can keep your eyes on the horizon, and lead your team with clarity.
In their recent book The Balanced Scorecard, authors David Norton and Robert Kaplan report that 95% of employees have no idea what their company’s strategy is. Not surprisingly, 90% of organizations fail to execute their strategy.
Meanwhile, according to the Harvard Business Review, 71% of the employees at the most successful companies in the world understand exactly how their work supports their company’s strategy. Norton & Kaplan bottom-line that for us: “70% of organizations that used a formal process to manage their strategy out-performed their peers.”
If you were to break down how much value you, personally, as an owner or executive, add to your company every hour, you would find that creating your strategy and then making sure it is being executed is by far the most valuable use of your time. Both of our products are designed to help you do exactly this.