As Mike Tyson said: “Everyone has a plan until they get punched in the mouth.” But don’t panic.
Strategy is a journey. First you plan it (Strategy Definition), then you walk it (Strategy Execution). No trip plan is perfect. No matter how long you’ve been running the “travel agency”, nothing goes exactly to plan. And that’s OK. It doesn’t need to. You just need a Strategy Execution framework to lean on.
When things go sideways
- Imperfect planning beats no planning.
- Use your business common sense. It’s your ally. Always.
- Diagnose what’s actually happening.
Are the initiatives not moving the needle? It may be the wrong initiative, one implemented without the objective in mind, or simply not enough initiatives to make an impact.
Is the strategy’s hypothesis wrong? Are the “input” objectives (your strategic levers) not driving the financial outcomes you wanted? For example, you’ve improved customer service, but the financials aren’t following.
Has the strategic context changed? A global pandemic, a financial crisis, a new competitor. Is it the same destination and path at a different speed? The same destination by a different path? Or a new direction and destination altogether?
The good news in the bad news
Your one-page Strategy Map, plus the rest of the Strategy Translation toolkit, is exactly what lets you test and adapt in a structured way. In Strat.exe language:
- Are your strategic initiatives really delivering the strategic objectives at the bottom of the map?
- Are those levers generating the desired outcomes at the top?
- Are the targets too aggressive? Do we need to slow the speed of execution?
- Is the destination (say, doubling profits) still valid, but the growth needs to come from a different source?
- Or do we need a whole new direction (Vision) and final destination (Strategic Aspiration)?
If you get punched in the mouth, don’t panic. Just look at your Strategy Map.