(Photo by lafra)
Strategists frequently advise prospective customers that their business needs a fleshed out strategy document. They’ll say, “If you don’t have a map, you won’t know how to get there.” Unfortunately, they’re not quite right.
The problem is, most strategy documents don’t last long enough to take the business to reach its desired goals. If you spend too much time strategizing, you’ll might find your window of opportunity gone. What’s the right balance between strategizing and doing?
It depends on two variables: 1) the size of your team and 2) the amount of resources at stake.
If you have a small budget (a small % of your total revenue), then spending time strategizing isn’t well spent. Yes, pick a short-term goal or two. But beyond that, try out your idea and measure the results.
If you have a small team, your strategy is probably well-established. Maybe not in writing, but it’s the “meat” of your everyday conversations and planning. As you grow your business, your dreams aren’t as easily shared and validated. A strategy document can serve to make clear your goals so everyone can refer to them in their day-to-day efforts.
Remember that when talking to a hammer salesperson, everything looks like a nail.