Business Owners & Entrepreneurs Podcast with Peter Boolkah | Business Coach | The Transition Guy®
Business Strategy And Execution In 2021 -- TTG160
Manage episode 281787900 series 2286714
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As we move into the new year, it’s important to understand the difference between strategy and execution. Many companies have well-crafted strategies, but unless their people learn how to execute a plan, nothing will come to fruition.
This is the primary reason why so many companies out there are failing to execute their plans. At the end of the day, having a strategy is great; but getting people to implement it is something entirely different.
Business plans are all about growing the company and creating lofty goals. But is your team equipped to execute a plan that is truly ambitious? Strategy and execution need to go hand in hand, otherwise you go nowhere.
Why are people a point of failure for so many businesses? To use a football analogy, there was a lower division team that was recently moved up. However, after one season they were relegated back down. The problem was that they didn’t have the substitutes to sustain a high level of performance throughout the season.
When it comes to a strategic plan, people often come in with energy. But over time the company starts to regress back to where it started because the team doesn’t step up.
Find out who on your team wants to learn, grow, develop, and deliver fantastic results. These are the people you need to mentor.
When you have a team that’s able to execute a plan effectively, you’ll have a much easier time achieving the results you want. Make strategy and execution a key part of your success in 2021.