Running a successful business involves more than just the ability to run that business in the best of times. Running a successful business involves knowing how to run a business in the worst of times. What is the most important quality a business owner can have during the worst times? Strategy. Strategy and strategy execution are essential to keep your business running when it looks like all hope is lost. Effective leaders can step in, assess a situation, and come up with a strategy for improvement or progress. What about in the times that it is more complicated? How are you supposed to be a strategic planner when the plan isn’t clear?
In order to establish a clear plan, in a very foggy situation, you have to be brave, brilliant and inspirational. You’re only brave when you’re afraid. You’re only brilliant when you can come up with the solutions that others can’t. You’re only inspirational when others believe in you. Remember that strategy is not about being the best –it’s about being unique.
Scenario thinking is a crucial skill for anyone who dealing with business strategy. You have to be able to reflect on a process and then take the appropriate steps needed to develop an approach. When your business is at stake, and the plan isn’t clear, you have to be brave enough to stick to a strategy. This can be really difficult, especially when time and money is running out quickly. Many business strategies fail because there is not enough follow through on what’s been established. You can’t execute a strategy alone. You have to develop a strategy, even just an initial strategy to try to sort out the noise, and then get enough buy in that you have the support you need to execute that plan. Sticking to that strategy and following through is absolutely necessary.
Being innovative is another key component for strategic planning in difficult situations. You need to be the person in the room that can think outside the box a bit. You should be suggesting ideas and plans that others aren’t thinking of. If you’re not coming up with these ideas, you have to develop a space where you’re open to the innovative ideas of others. Allow a flow that focuses and illustrates those concepts. This is where surrounding yourself with valuable employees, consultants, or colleagues comes in. If you can’t be that voice in the room, create a room with voices to get ideas flowing to save your business.
Any effective leader has to be inspirational. If you want others to buy into your ideas, and in turn support you in executing those ideas, you have to be able to get others to believe in you. A successful strategy happens when you can come up with the strategy, think innovatively, and convince others to help you execute it. The follow through is important and the feelings of those supporting the plans are just as important.
Strategic planning when the plan is unclear is absolutely difficult. It is not for everyone and it’s what sets certain leaders apart from the rest. If you don’t hold these qualities, you should be surrounding yourself and your business with people who do so that you can ensure the success of your business. Current times are uncertain. Businesses are failing at an alarming rate. If you can’t be the person with the idea, you need to find someone who can strategize on your behalf. Engage with us today if you need a business consultant to help save your business!