Strategy Implementation - Planning a Strong Start

Back a couple years (grin), I used to run the sprints.  I was pretty decent, All New England in college, and set a few school records progressing to the Eastern States Championships in high school.  Except for the start, there is not much strategy to the short sprints; gun goes off, run for as fast and long as your body will allow.  Ah...but that start, a race can be won or lost at that start.  Same goes for strategy implementation, a poor start can cost you the race.   

What are the essentials to strategy implementation planning?

Do’s

• Do realize your best attempts at providing early detailed data points are futile.  Too much early emphasis on obtaining detailed data costs the client time, money, and often provides false positives.  ROI, schedules, cost estimates, Voice of the Customer surveys will be inaccurate, completely incorrect, off by many multiples or all three.  Instead provide basic high level current knowns, be forthcoming on the unknowns and how estimates were determined.

"Use the formula P=40 to 70, in which P stands for the probability of success and the numbers indicate the percentage of information acquired." Part II: "Once the information is in the 40 to 70 range, go with your gut." - Colin Powell

• Do continue to refine and provide greater and greater levels of accuracy on data points as the strategy implementation progresses.  Accurate analysis combined with the phased approach below, will allow for course changes and continuous refinement.

• Do use phases when building your strategy implementation approach.  Three reasons why I favor segmented planning.  1. Speed of business is running at warp speeds, what is needed today will change tomorrow. 2. Benefits delivered today immediately start adding returns. 3. Momentum is a force multiplier.   

Don’t

• Don't wait to build full consensus.  There will always be dissenters, and there is no such thing as the perfect time.  Get key champions on board and blast out of the starting blocks.  Time is a killer of all things, especially true of great ideas and early momentum.  

“I don't know the key to success, but the key to failure is trying to please everyone.” ― Bill Cosby

On your mark, get set, Go!

About Us:

At CompassX we know all about strategy implementation and great project execution excellence, 80% of our client work is focused on nothing else.

You can contact me at kyleh@compassx.com  |  www.compassx.com | © COMPASSX GROUP, 2013

Strategy Execution - The Lost Art

Business can be funny, one moment something is hot, and the next it's gone. Often replacing the tried and true with new, flashy, and easy to use. But is it really built to last? Why have strategy execution failure rates skyrocketed? 

I believe strategy execution has gradually been eschewed, by the formerly great management consulting firms in favor of strategy creation and increased profits, by corporate executives and their management teams trying to keep pace with the new warp speed of changing business and thereby less time and attention focused on actually implementing those necessary business changes, and ultimately by the "do'ers" themselves in favor of sexier projects and fancier bullets on their resumes, after all great project execution is really hard work.

Strategy execution, two very simplistic words, but as I would do with my clients let's break these down to ensure we are aligned in understanding.  Strategy, in itself can be defined as an idea, concept, scheme or plan created to bring forth a competitive advantage or to alleviate a business pain point.  In and of itself a strategy is an idea, hopefully a good one.  But in order to reap its' realized benefits, next it must be broken down into actionable concrete steps.  Execution are these series of steps, implemented, to make the strategy or project materialize.  Without excellent execution, all strategy fails to meet its full potential or worse completely falls flat. See figure #1 below.

Edison and Einstein both often used the quote, "1% inspiration, 99% perspiration", in their respective fields of invention and science.  In the coming weeks I will further break down strategy execution to provide meaningful short takeaways that can be applied immediately within your own organization.

Strategy Execution Benefits Curve

About Us:

At CompassX we know all about strategy execution and great project execution excellence, 80% of our client work is focused on nothing else. I personally have spent the past fifteen plus years learning and applying what it takes to bring a client's strategy to greatness. You can contact me at kyleh@compassx.com 

www.compassx.com