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We’ve all heard it before, “Stick to the plan.” We’ve also heard “The world is changing” and “Change is the only constant.” If we look back at recorded history, the term strategy was established based on winning military engagements. While I don’t look at my life through the lens of military confrontation, I do think we can adapt some of these lessons to our business and personal lives today. But, why go through the effort?
As a business owner you can’t muscle your way to year-over-year 2X-5X growth. Even if you could, you simply can’t sustain it… and neither can your people. We see it all the time, founder led businesses are willing to make 50 mistakes to find one answer. They work 60-80 hours a week to achieve what they see, in the short-term, as success (or maybe survival). But at what cost?
So, what do Sun Tzu, Winston Churchill, Dwight D. Eisenhower, and even today’s Simon Sinek have to say about Strategic Planning vs Strategic Plans?
In his military treatise, The Art of War, Chinese general and philosopher Sun Tzu teaches Laying Plans (strategic planning), Initial Estimations (clearly defining your customer, product and go-to-market strategies) and Use of Energy (resources including people and capital).
British Prime Minister Winston Churchill is quoted as having said, “Plans are worthless, but planning is essential.”
President Dwight D. Eisenhower, a former five-star general, had a similar take when he said, “Plans are worthless, but planning is everything.”
Author and motivational speaker Simon Sinek is best known for his philosophy “Start with Why” (asking why is essential when developing your strategy for business and life). In his upcoming book, Sinek elevates this perspective to the next level by providing insight into today’s world by discussing how we are working with and competing against known and unknown players, how the rules are changeable, and how the objective is to perpetuate the game and thrive in it for as long as possible. Sounds like your business, doesn’t it?
So, why bother with developing a strategic plan?
Think of your plan as a map and compass, a living resource that provides direction. This is a communication tool for your leadership team that can be revisited on a quarterly basis. I recommend welcoming the disagreements and discussions that this process will generate within your team, then the unified vision that can be achieved.
The process encourages you to work on your business versus in it. It is an opportunity to focus on your organization (not individual actions) and clearly (re)define your market and your customer rather than chasing sales revenue.
Slow down and clearly understand the notional value of the time, effort and resources you are investing toward your targeted results – and keep in mind the Pareto Principle that suggests 20 percent of your activities will account for 80 percent of your results. Take the time to define those 20% levers that will best drive your results.
Finally, enjoy the journey… it’s your creation.
By Dan Meyer
