Business Strategy for Your Practice
Execute Your 2020 Vision and Kill Stagnancy
“To me, ideas are worth nothing unless executed ... Execution is worth millions.”
Anyone can take this advice to heart, whether you’re a stay-at-home parent or the CEO of a Fortune 500 company. Ideas are easy, but no one becomes successful because they had a great idea. Success comes from putting that idea into action. Being able to execute a plan is a skill every business leader needs. Here are three steps to help you improve your execution.
1. Ditch Perfection
Have you ever watched a behind-the-scenes featurette of your favorite movie? Some of the most successful films were all but unrecognizable in their early phases. In fact, a lot of early concepts are terrible. Look up the original designs for Woody in “Toy Story” to see for yourself. Fortunately, rather than wait for the perfect script, creators executed their visions and make changes as needed.
Putting off action in favor of creating the perfect plan or strategy leads to stagnant business. Successful people know that plans take many shapes before they reach their final form. Don’t jump into something without a clear plan, but don’t be afraid to define your strategy as you go. There’s a reason audiences won’t be flocking to theaters to watch the latest galactic adventures of Luke Starkiller this next summer.
2. Be Methodical
While you shouldn’t wait for the perfect plan, you shouldn’t be flying in blind, either. You can be too energetic about execution. Make sure everyone involved in a plan knows their responsibilities. Confusion will torpedo any strategy faster than you can say, “Who was in charge of this?” The Harvard Business Review states, “Having the discipline to organize people, assemble resources, and then generate a plan that others can commit to will collectively improve execution.”
3. Evaluate, Evaluate, Evaluate
We’re not saying you should micromanage your agency staff, but you do need to be checking in on a regular basis to evaluate progress on your plan. Schedule monthly or quarterly meetings to go over the strategy. This is where you look for any changes that need to be made and refine the strategy.
A smart strategy feels reassuring, but learning to execute a plan is the only way to make progress. The best business plan in the world is worthless if you never follow through.
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