What is Strategy Really?
- 📌 Strategy is essential for business success.
- 📌 A good strategy includes growth, sales, marketing, financial, hiring, and retention strategies.
- 📌 A strategy should have a clear end result, measurable goals, and accountable stakeholders.
- 📌 There are three types of “strategies”: ones that tick the right boxes, ones that won’t go further than the initial document, and ones that are just lists of actions.
- 📌 Goal setting, listing tactics, or filling out a template is not a strategy.
- 📌 A good strategy includes knowing the end result, researching challenges, creating tactics, setting goals, and maintaining traction.
- 📌 Traction is crucial for strategy success and involves creating a RACI matrix to hold everyone accountable and remind them of the big picture.
- 📌 Strategies may need to be adapted and revised as circumstances change.
- 📌 Having an excellent project manager is crucial for strategy success, and costly software may not always be necessary.