Do you have a strategy? If so, congratulations – you’re ahead of the curve. Many businesses don’t take the time to develop a strategy, and as a result, they struggle to achieve their goals. But having a strategy is only half the battle; the other half is making sure that your strategy is executed properly. In this blog post, we’ll talk about how to close the strategy execution gap and turn your plans into results!
Benjamin Wann is an expert at closing the strategy execution gap. He is a CPA and has written several books, including Getting Shit Done: The No-Nonsense Framework for Closing the Strategy Execution Gap which is the subject of this episode of The GrowCFO Show.
The strategy execution gap is the difference between where a company wants to be and where it actually is. This gap can be caused by a number of factors, including unclear goals, inadequate resources, and poor communication. But regardless of the cause, the result is always the same: Your company isn’t achieving its full potential.
So how can you close the strategy execution gap?
Here are a few tips:
- Define your goals clearly. If your employees don’t know what they’re supposed to be working towards, they can’t possibly achieve it. Make sure your goals are specific, measurable, attainable, relevant, and time-bound (SMART).
- Allocate the necessary resources. Your strategy won’t get very far if you don’t have the people, money, and time to make it happen.
- Communicate, communicate, communicate. Make sure everyone involved in your strategy knows what their role is and what they’re supposed to be doing. regular check-ins will help keep everyone on track.
- Be flexible. Things will inevitably change as you’re trying to execute your strategy. Be prepared to make adjustments along the way.
Closing the strategy execution gap can be a challenge, but it’s worth it. By taking the time to implement a solid strategy, you’ll ensure that your business is able to achieve its full potential. Listen to the full episode. We dive deep into these points and many more.
- How GrowCFO can help you build and execute your strategy
- Getting Shit Done: The No-Nonsense Framework for Closing the Strategy Execution Gap on Amazon UK and Amazon US
- Benjamin Wann’s other books on Amazon UK and Amazon US
- 168 Hours: You Have More Time Than You Think by Laura Vanderkam on Amazon UK and Amazon USA
- Benjamin Wann on LinkedIn
- Kevin Appleby on LinkedIn
01:02 Introducing Benjamin Wann
02:46 Everything in life is a project!
03:15 Ben’s books
06:22 Getting Shit Done
08:15 You have designed the strategy. What comes next?
08:42 Many organisations don’t actually have a strategy
10:57 In its most basic form, what is a business strategy?
12:09 The strategy execution gap
13:57 Who does what and by when?
16:39 Time is limited. How do you prioritise?
17:16 168 Hours by Laura Vanderkam
19:47 Mindset for achieving the milestones you need to reach
23:10 Napoleon’s army and empowerment
23:47 Strategy lessons from the US Civil War
24:54 The need for flexibility in the plan
26:48 What gets measured gets done
28:00 Rats in Hanoi: Why linking measurement to reward can be very dangerous
31:44 It’s all about communicating effectively
35:00 Use e-mail properly
36:19 Create the right culture
40:00 The role of the CFO in strategy execution