The number one complaint I hear about strategic planning is “we tried it once and it didn’t work.” Failure usually isn’t the result of poor planning, it’s about poor execution.
The 4 reasons strategies fail:
- They’re too complex – if strategies are overly difficult, implementation is difficult
- Plans are overly optimistic – there’s a natural tendency to do too much
- Loss of focus – in an effort to grow, entrepreneurs tend to take their eyes off the ball and ignore their core business
- Inability to make hard choices – when the pain is great in making tough choices, it’s easier to do nothing.
If planning is done right, there’s a direct correlation to improved profits and faster growth. If you’d like to improve your planning process, please contact me for a complimentary strategy session.