People get in business for a variety of reasons. The one constant in all businesses is that success or failure is made up of a complex mix of planning, execution, timing, and luck – good or bad. The difference between the businesses that become truly great and those that either languish or fail comes down to two primary things: the quality of the strategic plan, and quality of strategic execution.
Business startup is full of excitement and energy. The idea is fresh, and the hopes are boundless. Whatever the reason for being in business, success or failure largely depends on how well the strategic plan is executed. Planning is the foundation. Execution is the key!
We most often receive client engagements during periods when either planning or execution was failed or omitted. For small- to mid-size businesses, our approach to refocusing is the key to success. Stephen R. Covey is famous for coining the phrase: “Begin with the end in mind.” For clients who have lost their way, or become entangled in the operational trap, we remind them of this clarifying principle.
Strategic planning and management start with great research. The most shorted component of entrepreneurship is market research. Our research spans dozens of industries. We start with macroeconomic considerations. Then, we break down microeconomic data to identify points of strength and weakness, competitive advantage, points of differentiation, and market feasibility. Every plan, every client, every time, we start with market research that serves the foundation for all strategic decision-making. As the plan evolves, it buttresses the business through all phases of the business lifecycle.