There has never been a more important time to work on your strategy than today.. I’ve talked about about strategy in previous videos see here
Here there is a series of 4 videos in all which you can watch that will go through the strategy process in detail.
A common theme you will see in everything I talk about is feedback. Feedback is one of the most important things you need to master in business, whether it’s
- Sales (why customers aren’t buying from you)
- Operations (what non value adding activities are eating into net profits)
- Teams (what’s preventing them from being fully engaged)
And when it comes to strategy, it’s no different. In flowing trading economies it’s always important iterate on a regular basis, usually monthly / quarterly.
However in covid crisis mode, while it’s the same process, the main differences are the iteration cycle could be daily / weekly along with the vision.. during covid, most strategies are about crisis management and survival..
Always consider the 3 steps…
The vision is survival mode which will then drive the plan and the execution activities.. I can’t stress enough the importance of frequent iteration to ensure it’s working.. keep at it and be resilient..
I have a simple process here that can help you through building a vision your can see and believe in. It’s called the strategy house of excellence and you can watch the video here