The ‘golden handcuffs’ of strategy; are you ready to be accountable?

Strategy is like volunteering to wear handcuffs?

A strategy is about deciding what you’ll do as a business, and just as important, what you won’t do.?

A rigorously considered and articulated strategy is a hallmark of a strong, disciplined business. It almost gives you an unfair advantage! In fact, we’ve described strategy as “creating a race you’re sure to win”. ?

Coming up with one, and sticking to it takes guts, and occasionally it can inflict pain.??

Pain? What sort of pain???

1. Strategy imposes constraints, operationally and in terms of behaviour; it locks you to certain activities, priorities and standards.??
2. It lacks internal power unless you share it with your team - which also entails sharing your commitment to it. This leaves you and your executives open to heavy criticism for even minor violations. And that locks you even more strongly to it because if you step outside the strategy, you’ll be going back on decisions and that’ll undermine your leadership. In other words, strategy holds you accountable.?
3. The strategy might not work for everybody in your organisation and may be unpopular in some quarters. But as in politics, if you try to please everybody, you probably stand for nothing. And possibly worst of all you won’t be attractive to your prospects.??

If the occasional angst sounds too much for you, you’re going to have trouble living with and keeping to a strategy.?

At this point, we’d better make it clear that this discomfort is entirely worthwhile!?

Because without it, your business will be the weaker. Your efforts less focused, your team less motivated and aligned - and your marketing certainly less effective.?

Making your strategy stick?

Once agreed, you must accept – and your people need to know - that the strategy is a non-negotiable.??

This demands constant vigilance, there will be forces undermining it. Assess every opportunity and idea against the strategy. This really helps the business resist temptation to follow ‘shiny new things’ that can become so distracting.??

Strategy needs to be given oxygen. By you. You need to build it into everything you do. Find ways to apply it to every department. Reinforce it constantly.??

Reaping the benefits?

It’s no co-incidence that so many great business leaders talk a lot about strategy. Because the benefits include achieving a more powerful market presence, being known for what you want to be known for, better internal alignment, engagement and teamwork.??

And a more valuable business.?

Successful leaders all find the effort to develop and maintain strategy pays dividends.?

More reading on this topic:?

Seven key advantages to having a marketing strategy ??