AMPLIFY DAILY – #58 OF 365: Strategy vs Planning vs Implementation (Tues, 2/27/24) [Video]

CATEGORY: Strategy
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In today’s video, I’m talking about the difference between strategy, planning and implementation.
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People throw around the word “strategies” loosely…
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With no regard to it having a defined context in the conversation.
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My personal definition of strategy is a defined set of actions to take, over a defined period of time, with the intent on producing a specific, predetermined outcome.
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If strategy is the “what” we’re doing…
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Then planning is the “who, where and by when” of the scenario.
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Implementation is the actual work to DO the DOING…
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In my experiences, many business owners and contractors who they hire…
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Including the ones they hire to manage their strategy…
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Don’t really understand on a baseline level the difference between strategy and planning…
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The reality is a strategy can also be thought of as a high-level “plan” that has the important points of what we’re doing…
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But doesn’t get into the nitty gritty details and logistics of HOW we’re actually going to execute that strategy.
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Every good strategy and plan BEGINS with assessment…
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What is our goal, and what are the fixed and intangible resources we have at our disposal to reach that goal, inside of our defined time frame?
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Resources might be cash, credit, time, specialized knowledge, relationships, career identity, etc…
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BEFORE we start planning, when we compare our resources against the goal…
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It becomes clear that certain pathways are not going to be ideal to focus on, for whatever reason…
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And the pathway to take and strategy or strategies to focus on also become clearer.
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But if you skip steps and jump right down to the planning and implementation…
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Your choices for which actions to take, and in what priority order to take them will lack context…
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Which is akin to throwing spaghetti against the wall, and based on what sticks, just doing more of that…
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This is not STRATEGIC planning, it’s unfocused action…
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And unfocused action does not produce PREDICTABLE results that move you toward a DEFINED goal.
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This doesn’t mean that you will not have results…
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But without planning inside of clear strategies that are anchored by a defined, measurable goal…
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Your choices are unlikely to reflect the fastest and most efficient growth path for your company.
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For more revenue and business growth tips, subscribe to AMPLIFY DAILY at https://ThomasKRStovall.com.