I listened intently as the senior leader spoke. He was sharing the “new” strategy with the leadership team. It was the same old, same old. He claimed that we were in normal market conditions, and if we worked hard everything would be fine. In fact, the market had shifted. Conditions were much more challenging than the past few years, and we needed a new strategy. Our leader did not deliver one. Fast forward a year and things were not good. We missed our targets. A new leader was brought in. Our previous leader made a classic mistake and paid the price. He did not know the practical tactical tips leaders leverage to craft a winning strategy.
Practical tactical tips to craft a winning strategy
All The Way Leadership! believes that crafting a winning strategy is what strong leaders do. They also know how to craft a winning strategy. It is important that leaders ask insightful questions about the best way to craft their strategy. In this post, I am going to share some practical tactical tips (PTTs) for how to craft a winning strategy based on experience. Simple advice for new leaders to follow.
Practical Tactical Tip (PTT) #1 – Don’t take too long to craft the strategy
Speed matters a lot these days. If you are going to implement a winning strategy – it needs to be timely. One vitally important lesson that the pandemic taught all organizations is that change may come much faster than you anticipate. With that thought in mind, don’t take too long to craft the strategy. If you do, you risk missing the opportunity window that will determine if the strategy is successful, or not. In general, I recommend taking no longer than 90 days to craft your strategy. That may seem fast to some. I was in an organization that took many months to craft our strategy. While we wasted time pondering, our competitor moved out with a new strategy and crushed us. It took years to recover from our protracted approach.
PTT#2 – Don’t look too far out for the future state
Any strategy should focus on getting an organization to a desired future state. Clearly identifying the destination you are trying to reach provides clarity to all stakeholders. One thing that has changed over the past few decades is the time horizon used for effective strategies. Five and ten-year strategies used to be all the rage. Nowadays, it is difficult to project what things will be like that far forward. Instead, I recommend framing any strategy for the next few years. No more than 1-3 years out. Five years is far-fetched. Ten years is pure fiction. Any strategy time horizon longer than that is a complete fantasy.
PTT#3 – Avoid calling everything a strategy
In the office, you hear the word strategy thrown around a lot. It is a buzzword. In fact, some people say that you need many strategies to accomplish an outcome. When I hear most people say strategy, they are actually talking tactics, techniques, goals, or objectives. Watch the video below if you want a quick primer on what a strategy is and is not. I recommend avoiding calling everything a strategy – it will confuse your stakeholders, and make you look uninformed as a leader.
Remember – Collaboration creates buy-in
One final reminder. Remember that collaboration creates buy-in. If you include stakeholders in crafting the strategy they will be more open to it than if you leave them out until it is time to implement. Sure – collaboration requires more time and energy than crafting the strategy yourself, but it is well worth the investment.
ATW! is designed to make you a better leader
I hope you join me on this journey to raise up the next generation of leaders. The world is in desperate need of more great leaders. Women and men who lead with confidence, clarity, and creativity. It’s time to become the leader that your world needs. Let’s go All The Way!