Let’s get one thing straight: a business strategy should never be seen as a “nice to have.” Your strategy is the grunt work, the thinking and the planning that will help you get to where you want to be.
If the term ‘strategic direction’ rings a bell, it’s because managers and leaders like to use it when discussing business growth, expansion or product development to stakeholders. But dig a little deeper and you will find that beyond all the buzzwords, business lunches and ping pong tables, many organisations rely on aspiration rather than solid direction. And without consensus on your core goals or measurements of success, you’ll struggle to communicate a strategic vision or forward-looking plan with your customers, or even to yourselves.
Setting a strategy is a process that helps you prioritise goals, understand risks, align on focus areas, and identify resource needs to drive that success. Even if a fire drill pulls you elsewhere, your business strategy will help you stay focused on your longer term goals.
The Einstein quote: “If you can’t explain it to a six year old, you don’t understand it yourself” perfectly sums up just how simple your vision should be. It should provide a lens on a desired future state, a place the company aspires to be, is clear and can be measured.
When Salesforce formed in 1999 its vision was to rapidly create a world-class internet company for sales automation. It was a simple vision that people could (and did) buy into. And the thing about visions is they don’t have to stay the same. How many times do you think Salesforce has evolved its strategic vision since 1999? Many. Don’t be afraid to reset and adjust plans to ensure the evolution of your strategy is built on the right things.
If you’re at the starting point of your business strategy journey, Game Storming have designed an open-ended, creative thinking exercise called Cover Story. The point of the game is to challenge your team to create a best case scenario and take it one step further into a fantastical future. Best run with a diverse group of people, the goal is to not get stuck in reality – think big and create a widely successful future! Here’s what the Cover Story concept includes:
The Cover Story exercise is a great way to encourage blue sky thinking and set you and your team on a path to building a solid strategy and developing a business plan designed to deliver on your goals. For more information on how to run the exercise visit the Game Storming website.
So before you get carried away with your business idea, take the time to build your business strategy. And if your strategy has changed over the last few years? Find business guidance to help you navigate the next normal by downloading our COVID-19 Response Playbook to help you lead and build resilience.