What makes a bad strategic plan?
According to Harvard Business School, 92% of business plans fail due to poor execution, and so getting a plan that succeeds, is difficult.
Your strategy should clearly explain your direction, and how you will be different from your competition. Then, your execution plan should detail specifically where to commit your resources of time and money to ensure you execute that strategy.
In this episode, Kevin and Brad discuss five things that make a bad strategic plan, and how you can avoid those, to build more effective strategic plans, that succeed more often.
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Related episodes
>> See Episode 85 Getting the most from your strategic planning framework
>> See Episode 90 Annual Strategic thinking meeting
>> See Episode 117 The biggest problem with most Flywheels (part one of two)
Additional episodes you might enjoy:
# 50 Jim Collins Flywheel Concept: How to build unstoppable momentum in your company
# 16 Jim Collins
# 84 The 7 common strategy mistakes from Michael Porter
# 43 The top 7 best practices for weekly meetings
# 69 What is a Topgrading virtual bench and why you need one
# 88 The hidden cost of not having a team of all A-Players
# 96 The three main barriers to consistent growth
# 83 Why strategy should focus on producing more profit - not market share
