"My company does not need a strategy!"

"My company does not need a strategy!"

Vasiliy Ivanov Jul 26, 2017

"My company doesn’t really need a strategy!" is a frequent statement of the small-to-medium business owners that we often hear when talking about our Roadmap Planner product. Agree?

If yes, tell me: are you planning your life? Do you really have no thoughts or plans regarding a place you want to live in in 5 or 10 years? Or regarding a car you want? How about a place you want your children study at? I am sure that 99% of business owners and top managers have such plans and are chasing these goals.

Then let's go back to the original idea - how these plans are going to be achieved if we have no long-term business goals? I suppose many readers will smile and think: "Of course, I have a goal. I want to have $X in a couple of years." But is it enough to just utter the amount you want to earn at a particular point in the future? I believe that it’s not. Definitely not! This method does not guarantee the goal will be achieved. Honestly, there is no guarantee your company will exist by that time.

Building a company's strategy does not only mean describing long-term goals, but also defining a clear, understandable route to them and setting midway control points. For example, you have defined the goal you want to reach in 5 years. It will mean multiple (many) parallel projects realization for a company to achieve it. Each project, in the strategic context, is a set of aligned high-level tasks with the weeks or months length. And only in this case, you, as the head of a company or the owner of a business, will be able to measure the success of long-term plans on a weekly or monthly basis and correct them if necessary.

Plans correction is a separate big theme. In case you correct the plans each time a problem occurs or a project falls behind the schedule, your strategy will become a process of after-the-fact tracking of what’s happening. While the initial task of the strategy is to determine how the business will develop, not to depict the actual state of things.