People often ask me, “why do I need a strategy?” By definition, the purpose for developing a “strategy” is to accomplish an objective with seemingly inadequate resources.
Let’s break this down a bit. If you don’t have a clear objective, you don’t need a strategy. It really doesn’t matter what you do, if you don’t know what you need to get done. Also, if you have an abundance of resources, you don’t really need a strategy, you just do it. If you want to buy a pack of gum that costs a dollar and you have ten dollars in your pocket, you don’t have to come up with a big plan of how to get it. However, if you want to start a company and need $100K, but only have $5K in your bank account, you need to have a strategy of how to get the money to open your business.
Now, I don’t know about you, but I don’t know of too many situations in the current business landscape, where a company has an abundance of resources to get a job done. If you’re like most managers, you’re struggling to make do with what you have. You are being constantly asked to achieve higher and higher goals with smaller budgets.
Strategies allow you to overcome overwhelming challenges. They allow you to compete in situations where you may not have a chance otherwise. Strategies are the key to sustainable achievement.
You don’t need a strategy if you’re satisfied with what you have.