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What is the worst mistake you can make when crafting your strategy?

Our Battalion Commander pointed at the map and explained his strategy. Everything was dependent on the element of surprise. We must attack before being detected. Otherwise, the battle would be lost. Guess what happened when we executed the strategy. The enemy detected our battalion before anyone was in position. Chaos ensued and we were wiped out. Luckily for us – it was a training exercise, not a real-world operation. Nonetheless, our commander was embarrassed and chastised by his senior leaders for creating a bad strategy. Our commander made a classic leadership mistake. He discounted the risk and assumed that everything would go according to plan. It didn’t and we failed.

An Army leader briefing his team members.

The biggest mistake you can make is ignoring the risks

Every strategy you create as a leader will come with risks. I am amazed at how many leaders choose to dismiss, ignore, or discount the risks rather than deal with them. There simply is no such thing as a risk-free strategy. The best approach that a leader can take when crafting a strategy is to identify the risks and determine ways to manage or mitigate them. The biggest mistake you can make is ignoring the risks and hoping for the best. The best scenario case rarely happens, and certainly does not happen over and over again. Prepare for the worst-case scenario so that your strategy does not fall apart because your team does not know what to do.

There are many versions of Murphy’s law – this is the easiest to remember.

Making bold moves creates the biggest impacts

As a leader, you drive results. In many cases that means your strategy will need to include bold moves. Never forget that risks and rewards correlate. If you want a large reward as the outcome of your strategy, you will likely need to include some bold means which will come with risks. Bold strategy = higher risk. Recognize this truth and factor it into your plans. If you are expecting huge results from your strategy and do not contemplate the associated risks, then you are setting up your team for struggles. Don’t be that kind of leader. Plan for the risks and deal with them when they arise.

The D-Day invasion was a high-risk strategy that paid off.

Another mistake – don’t be afraid to take risks

It is important to also point out that you need to take risks as a leader to get great results. If you refuse to ever take big risks, don’t be surprised if your team gets stuck in neutral. Now, I am not saying take big risks all the time, or stupid risks. Rather I am suggesting that smart, calculated risks are the way to go. I like the way Mark Zuckerberg says it below. You will likely fail if you avoid all risks. Be brave.

The biggest risk is not taking any risk… In a world that changing really quickly, the only strategy that is guaranteed to fail is not taking risks.
Mark Zuckerberg

One caveat – not all strategies require boldness

Not all situations require a bold strategy. If the team you are leading is performing well and delivering high-impact results don’t feel the need to put a bold strategy in place. In this case, craft a strategy that keeps your team moving forward. Manage the risks as needed and monitor the situation in case changes are needed down the road. You will exhaust your team if every day is high-risk execution.

Performance correlates to leadership ability — Excellent performance means your strategy is working.

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Four lessons learned for how to craft a winning strategy

Captain Slacker stood up to deliver his operations order. He described the mission with enthusiasm. We all would board helicopters, fly to the landing zone, disembark, and take the objective by force. A classic raid operation. The rest of the battalion would arrive by truck. Captain Slacker ended the briefing with a loud hooah, fully confident. Our Battalion Commander was in the room listening intently. He seemed unsettled. I was a platoon leader in the Army, wondering if I was experiencing a lessons learned moment. My hunch was accurate.

Operations orders describe the plan in detail.

Things went from good to go to bad

The Battalion Commander asked one question. “Captain, who told you that your company would be conducting the raid via helicopters?” Silence. “Your company is arriving in the trucks. Your plan is crap! Fix it!! I will return in an hour to hear your new plan. Hooah, indeed.” You could hear a pin drop in the room as the Battalion Commander left the room while we all stood at attention.

Blowing it in front of a senior leader is always painful.

Learn from others mistakes to avoid repeating them – make sure everyone knows the strategy

We all helped Captain Slacker revamp the plan so that he was prepared for the battalion commander’s return. The second briefing went fine, but we could all tell that the colonel was still pissed. I learned later it was because Captain Slacker missed the meeting where the battalion strategy was shared. I made a mental note. Make sure I know the strategy before writing my own plan. It is a mistake I have seen many times in my career. Lesson learned #1 – make sure everyone knows the strategy, or else you will see plans that make zero sense.

Not knowing the strategy leads to misaligned plans.

Lessons Learned #2 – Communicate it often

As a leader, you remember the strategy. The question is whether, or not, your stakeholders remember it. Don’t be surprised if they don’t. You need to communicate the strategy often, especially for bold ones that will be challenging to implement. When obstacles arise your team members will ask why are we doing this. Reiterate the strategy to them – it will help you get everyone to the finish line, especially when things get hard.

All-hands meetings are excellent opportunities to communicate the strategy.

Lessons Learned #3- Create a clever way to capture the central idea

It is difficult for me to remember stuff. We all face this challenge. You do and so do your team members. Help them remember the strategy by creating a clever way to capture the central idea. A few methods that seem to work well include using an acronym, slogan, or graphic depiction of the strategy. Some of you are probably shaking your head thinking this lesson learned is unnecessary. Trust me it is a worthwhile investment of your time to come up with a clever way to communicate it to your stakeholders. Otherwise, they will forget it quickly.

An excellent example of an easy-to-remember acronym.

Lessons Learned #4 – Market it

Yes – you read that correctly. You need to market your strategy. Use a memorable slogan or compelling graphic to get the word out. I am a big fan of having a one-page summary of the strategy that you can use post and easily reuse. Another technique that seems to work well is to brand your communications with a slogan or graphic. Your stakeholders will see it consistently and be reminded on a regular basis where the organization is going.

Apple uses clever marketing for its talent strategy.

Bottom line – leverage these four lessons learned for crafting your winning strategy

Make sure everyone knows the strategy.
Communicate it often.
Create a clever way to capture the central idea.
Market it.

Manage the top line: your strategy, your people, and your products, and the bottom line will follow.
Steve Jobs

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Practical tactical tips leaders leverage for crafting a winning strategy

I listened intently as the senior leader spoke. He was sharing the “new” strategy with the leadership team. It was the same old, same old. He claimed that we were in normal market conditions, and if we worked hard everything would be fine. In fact, the market had shifted. Conditions were much more challenging than the past few years, and we needed a new strategy. Our leader did not deliver one. Fast forward a year and things were not good. We missed our targets. A new leader was brought in. Our previous leader made a classic mistake and paid the price. He did not know the practical tactical tips leaders leverage to craft a winning strategy.

Practical tactical tips to craft a winning strategy

All The Way Leadership! believes that crafting a winning strategy is what strong leaders do. They also know how to craft a winning strategy. It is important that leaders ask insightful questions about the best way to craft their strategy. In this post, I am going to share some practical tactical tips (PTTs) for how to craft a winning strategy based on experience. Simple advice for new leaders to follow.

Practical tactical tips are worth jotting down for future use.

Practical Tactical Tip (PTT) #1 – Don’t take too long to craft the strategy

Speed matters a lot these days. If you are going to implement a winning strategy – it needs to be timely. One vitally important lesson that the pandemic taught all organizations is that change may come much faster than you anticipate. With that thought in mind, don’t take too long to craft the strategy. If you do, you risk missing the opportunity window that will determine if the strategy is successful, or not. In general, I recommend taking no longer than 90 days to craft your strategy. That may seem fast to some. I was in an organization that took many months to craft our strategy. While we wasted time pondering, our competitor moved out with a new strategy and crushed us. It took years to recover from our protracted approach.

PTT#2 – Don’t look too far out for the future state

Any strategy should focus on getting an organization to a desired future state. Clearly identifying the destination you are trying to reach provides clarity to all stakeholders. One thing that has changed over the past few decades is the time horizon used for effective strategies. Five and ten-year strategies used to be all the rage. Nowadays, it is difficult to project what things will be like that far forward. Instead, I recommend framing any strategy for the next few years. No more than 1-3 years out. Five years is far-fetched. Ten years is pure fiction. Any strategy time horizon longer than that is a complete fantasy.

Make sure to include a future state in your strategy.

PTT#3 – Avoid calling everything a strategy

In the office, you hear the word strategy thrown around a lot. It is a buzzword. In fact, some people say that you need many strategies to accomplish an outcome. When I hear most people say strategy, they are actually talking tactics, techniques, goals, or objectives. Watch the video below if you want a quick primer on what a strategy is and is not. I recommend avoiding calling everything a strategy – it will confuse your stakeholders, and make you look uninformed as a leader.

Remember – Collaboration creates buy-in

One final reminder. Remember that collaboration creates buy-in. If you include stakeholders in crafting the strategy they will be more open to it than if you leave them out until it is time to implement. Sure – collaboration requires more time and energy than crafting the strategy yourself, but it is well worth the investment.

Design thinking requires a new way of collaborating. — Collaboration creates better ideas and strategies.

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Insightful questions strong leaders answer to craft their winning strategy

She took a big swig of Diet Coke. The first slide was displayed on the screen. It described the current state. Next slide. It was a vision for where she wanted the organization to go. The room was packed with her team members. She was rolling out a bold new strategy. This was the meeting to share the strategy and build consensus. If she did not get them on board the strategy would stall. Next slide. She talked through the details they had crafted as a team. The energy in the room went up dramatically. It was time to execute. Exciting days were ahead. She had prepared well for this moment by asking herself several insightful questions beforehand.

Getting buy-in from your team is key to success

I am not a strategy expert

All The Way Leadership! believes that crafting a winning strategy is what strong leaders do. I am not a strategy expert. If you want to go deep into that topic find someone who is. Instead, I simply advise that all leaders ponder a few key questions when it comes to strategy. These insightful questions (IQs) are found below.

Complex challenges require leaders with comprehensive solutions to solve them. — A good strategy does not need to be complicated.

IQ#1- Should I create the strategy myself?

The short answer is no. Don’t go it alone. Be sure to include members of your team, and other stakeholders when creating the strategy. It is rare that you will have enough insights and ideas to craft a winning strategy all by yourself. I call this the Moses coming down from the mountain approach. Don’t do it. There is one exception – when you are on a short deadline. Sometimes the situation is dire, the building is on fire, and you need to put it out. In this case, you need to crank out the strategy all by yourself. Otherwise, include others.

Avoid being Moses when crafting your strategy. Include others.

Strong leaders collaborate with stakeholders when crafting the strategy

Strong leaders ask insightful questions of others when crafting their strategy. Get the big brains in the room, and ask for their input. In my career, some of the best strategic ideas have come from junior members of the team. Don’t exclude them. They tend to bring a fresh perspective to the table. The higher up in the organization that you sit, the more stakeholders you will need to include. Plan accordingly.

Brainstorm with others when crafting your strategy.

IQ#2 – How do I know if I have a bad strategy?

One way to confirm if your strategy is good or not is to select metrics you will track when you implement. This approach enables you to tell if it is working, or not. For example, if you craft a discounted pricing strategy to increase your overall sales, you will be able to tell shortly after implementation if it is working. If it doesn’t work, consider it the wrong strategy, and move on to something else. Results count more than opinions, but it is important that you seek input before you implement.

Metrics help you track if the strategy is a good one.

Strong leaders get feedback about the strategy from their stakeholders

Leaders need to get feedback from their stakeholders. Just because you codified it doesn’t mean it is good. Ask insightful questions like do they understand your vision? Does the strategy make sense? What are their thoughts about implementing it? It is critical that you get inputs from others in order to build consensus and move your team forward. Getting buy-in from others is critical for success before you start executing.

Don’t expect all the feedback to be positive.

IQ#3 – What are the best ways to communicate my strategy to the team?

The third point to ponder is how you communicate your strategy to your team. My recommendation is that you walk them through it, and answer any questions they have. Don’t be surprised if you get several questions, even if you included many of them in the formulation phase. It will get real for your team the closer you get to execution. PowerPoint is the best tool I know to capture a strategy. Keep the slides to 10 or less. Anything longer is probably overly complicated and still needs work.

Make sure your team is bought into the strategy.

Strong leaders communicate their strategy consistently and creatively

It is the leader’s job to communicate consistently and creatively. Your team and other stakeholders will need to be reminded at times what the strategy is during execution, especially when they run into obstacles. Provide something creative to help stakeholders easily recall the main points. A slogan, acronym, or summary slick sheet are ways to communicate your strategy. I am a big fan of having a one-page summary that your team can carry around with them in case questions arise during implementation. If it feels a little like internal marketing. It is. The bolder the strategy the more important it is to leverage clever ways to consistently communicate it.

Amazon’s former CEO is known for insightful strategic sayings and slogans.

IQ#4 – Is it important to communicate the strategy to my boss? Why or why not?

The right answer is hell yes. This question seems like a no-brainer, yet I have seen this misstep made by leaders more times than I can count. It is vital that your boss understand and endorse your strategy. Otherwise, you risk huge missteps during execution. Case in point, the pricing strategy is an important component of any federal contracting proposal. If your team is taking an aggressive approach and the boss does not know, you will discover the disconnect when it comes time to get the approval for the bid. Hello, rework. Make sure you inform your boss and get her input. Don’t make the mistake of waiting until it is too late to find out that your boss does not concur with your strategy.

Keeping your boss informed is vital to success.

Take the time to ponder insightful questions

Strong leaders understand the importance of crafting a winning strategy. They ask insightful questions and collaborate with their stakeholders. They gather feedback and adjust accordingly. Strong leaders communicate the strategy consistently and make sure it is approved by their boss. Be that kind of leader.

However beautiful the strategy, you should occasionally look at the results.
Winston Churchill

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Strong leaders actually know how to craft a strategy

Last month I wrote about the fact that crafting a winning strategy is what strong leaders do. The next series of blogs will describe in more detail how to formulate your team’s strategy as a leader. This month we will begin with the basic concept.

A plan of action designed to achieve a major or overall aim.
Basic definition of strategy

Some leaders are clueless

Have you ever worked for a leader who does not know what a strategy is…really? No one trained him, and it showed. For example, I worked for one leader who had no clue. He knew it, I knew it, everyone knew it. The organization put this leader in charge of crafting the strategy we would use moving forward. He floundered, and we all watched while this leader struggled. He did not know what he was doing and never delivered. All his stakeholders were left in the dark wondering what was happening. Where were we going? As you might imagine – it was a painful experience for all of us and did not end well for this leader.

It is no fun working for a clueless leader.

The leader who replaced him was much better

Eventually, a new leader was put in place. This leader went to work right away crafting a strategy for the organization. She gathered a team to help define the strategy. She socialized it with her leadership team, received feedback, and made adjustments. A final product was delivered that was well-received by practically everyone. Trust was restored, a clear path forward was identified and performance improved rapidly as we began executing the new strategy. I watched in wonder as she turned around a bad situation in about 90 days. It was a pleasure working for a leader who knew what she was doing and inspired her followers.

In reality, strategy is actually very straightforward. You pick a general direction and implement it like hell.
Jack Welsh

A tool to help craft your strategy

As a leader, it is important that you understand what a strategy actually is. Some leaders struggle with thinking strategically because they do not really know what it means. You probably hear the word strategy a lot. I would offer that what many people are talking about when they say the word strategy is actually tactics, process, and procedures. This diagram found below is the best way I know to think about what a strategy is. It is simple to understand.

Use this simple diagram to formulate your strategy

When in doubt draw it out using this simple diagram. Starting on the left – we, that is you and your team, are here. It is important to define the current state – the blue circle with the red star. Describe what is going well with your team and what needs to change. On the right is the future state. You want to be there – the green circle. The strategy articulates how you are going to go from here to there – the arrow. Any strategy that does not include a how is not an actual strategy. I am going to say that again because I cannot count how many strategic briefings that were all fluff and no substance. In other words, there was no way to actually implement the strategy. Any strategy that does not include the how is not an actual strategy.

Simon Simek reminds us about the importance of the how.

An example of a strategy with no how in it

Years ago I worked for an organization that did not understand this topic. The business unit I worked in did not know how to articulate real strategic thinking. One year all we received from senior leadership was “grow the business”. The current state part of the business was only the revenue number we generated the last year, $100 million. The future state was another number – our target for the next year, $120 million. The strategy was we need to grow by $20 million, or 20%. No mention of how we would reach that number. Go and grow. Wow – talk about a strategy with no how in it. What happened next was predictable.

High growth strategies are not easy to implement.

The leadership team struggled to get everyone motivated

The go and grow strategy was not well received by the leadership team. Market conditions were changing – the next year would be much harder than the last year. The growth target was much larger than the previous one – twice as large. Leaders in the business unit wondered how in the world are we going to grow twice as fast in a tough market. No clear answers were provided by the senior leaders. The reality is that they did not know how we would do it. They were hoping for the best. The leadership team struggled to get everyone bought into the strategy and motivated to make it happen. As a result, we did not have a good year, we missed the target, and new leaders were brought in to fix the problem.

Getting buy-in from the team is critical for strategy success.

What about you?

Do you know how to craft a winning strategy? Have you taken the time to formulate, codify and communicate it to your stakeholders? If not, make the investment now. If so, you will enjoy the next few blogs. We are going to explore this topic in detail to include points to ponder, practical tactical tips, and lessons learned based on decades of experience.

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Crafting a winning strategy is what strong leaders do

Take a moment right now and think about a strong leader you know. Someone you truly enjoyed working for. Ask yourself a basic question about this leader. Does she know how to craft a winning strategy? I bet the answer is yes. Strong leaders win. Now think about a weak leader you know well. Someone you did not enjoy following. Ask yourself the same question. Did he select a winning strategy? Your answer probably changed to no. It is difficult to follow someone who does not know how to win. Losing sucks. It always has and always will.

Winning is a great feeling that your team wants to experience.

Strategy is a constant leadership challenge

Strong leaders think strategically on a regular basis. How will my team win today, tomorrow, and the next days after that? Having a winning strategy is a constant challenge that every leader faces. Trust me – your competition is thinking about ways to beat you and your team. You better do the same thing. It is easy to rest on your laurels and fall into the trap of focusing your time and energy as a leader on tactical execution. I call it the “keeping the trains running” mentality. Weak leaders keep their heads down, failing to look at the big picture and over the horizon. Don’t be that kind of leader. Being a strong leader is more important than ever these days.

It is a highly competitive marketplace, so strategy is important for success

The business world is a competitive place. I cannot think of many industries that are not highly competitive. If you want to win you better have a good strategy before your competition eats your lunch. I have written before about what happens when a leader does not have a good strategy. If some days it feels like you are in a brawl at work – it probably is because you are. Let’s face it – the COVID crisis made it even more important than ever to have a good strategy to not only win but simply survive in some industries. The whole world changed last year. Strong leaders recognized the need for new strategies to be successful in the post-pandemic world and are adjusting accordingly. While others are hoping that things will return to normal (whatever that means), and may not make it much longer.

Everybody has a plan until they get punched in the mouth.
Mike Tyson

Leaders are expected to provide the winning strategy for the team

Let’s pose a simple question – who is responsible for the strategy? Answer – the leader. Sure you are going to get help from others when crafting the strategy. But, if you are the leader, you need to own the strategy for your team. They will expect it, and you need to deliver. Think about it. Who will the team turn to when execution gets tough? The leader – of course. That is why you are there. Strong leaders understand that they are expected to provide the winning strategy for their team. Weak leaders delegate it to others, or simply hope for the best. And we all know by now that hope is not an effective strategy, especially in a competitive market.

You are the quarterback – call the play!

Picking a winning strategy may be challenging if you have many possible paths in front of you

My last point is somewhat counter-intuitive. I believe picking the best strategy is most difficult when you have many possible options. It is usually pretty easy to pick between two or three options. More than that then you should spend some time analyzing each option before selecting, but don’t take too long. The reason I mention this topic is that I have worked for leaders who were bad at strategy simply because they wasted precious time trying to pick the best path forward. We would spend days, weeks, and months thinking through the options and never commit fully to one. Meanwhile, our competitors selected their strategy and were busy executing it.

Solving problems is a leaders job. — Don’t spend too much time selecting the strategy.

What about you? Do you have a winning strategy?

Are you crafting a winning strategy for your team? Do you spend time thinking strategically with your team on a regular basis? If not, then you have work to do. Don’t worry – All The Way Leadership! is here. The next series of blog posts will focus on strategy formulation.

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