Strategy development has become extremely challenging in demanding market conditions but it is probably eclipsed by the ability, or lack of ability, of business leaders to reach successful implementation of this strategy. Above all businesses need to be scrutinising their performance more closely than ever before.
Implementation is the process that turns strategies and plans into actions to accomplish strategic objectives and goals. Executing your plan, ideas, strategy or project is arguably as important, or even more important, than the strategy itself. Commitment to executing critical action moves the business from a collection of good ideas to actions that drive business growth. In my experience, I too often see businesses fail with implementation.
Four key reasons businesses fail with the implementation of the strategy include:
- Not linking budgeting to strategy
- Not linking employee incentives to strategy
- Business owners and managers not spending enough time discussing strategy
- Not engaging the team in an understanding of the organisation’s strategy
A plan should provide a leader with the roadmap he or she needs to pursue a specific strategic direction to achieve a set of performance goals, to deliver customer value and ultimately to be successful. However, without proper implementation, the desired performance will not be achieved.
To execute your plan seamlessly consider these tips:
- Set up for success
Before you start the execution process, evaluate your plan for action and implementation. Identify the specific issues and choices your strategic plan should address. - Coach for performance
Act like a coach and use the plan as your framework to guide your team to high performance. - Commit to effective meetings
Schedule regular meetings to report on the plan or project status. This is critical to making the numbers and achieving the business’s strategic goals. - Hold everyone accountable
Accountability is key to successful execution! If you and your team don’t have to report to anyone on your progress, the plan may find itself further and further down your to-do list or at the bottom of the piles of paper on your desk.
These are 4 simple tips but I believe that they are so powerful. Having a plan that is well thought out and constructed is the perfect starting point. The last thing you want to do is look back in six month’s time and wish that you had identified some big issues that are now threatening your success. That’s why I’m big on businesses getting the outside support they need to craft a strategy that is both effective and logical. In fact, an outsider can add some reality to the equation.
Implementation Meetings
So once we have the plan that is right for our business, driving the implementation is a matter of coaching and accountability. Undoubtedly this is where effective scheduled meetings come into play. I often get pushback from people who are too busy to attend meetings but this attitude is often masking the real issue that being involved in the planning process would solve. So make your meetings to the point, timebound and focused on delivering the desired outcomes. This will ensure your greatest chance of success.
Happy planning (and implementation), please reach out if you would like some help!
