My experience is new business is grown at the intersection of strategy and execution. As a consequence leaders should focus on strategy execution when building new businesses. Leaders tend to have a bias towards strategy or executions as their real strength. sides. Operations people are great at execution. Exceptional marketers and builders of new business are great at strategy. Few of us are great on both, but we can compensate for it by selecting a deputy or right hand with the opposite characteristics.
To secure a successful strategy execution, business leaders need to blend the two diverse skills. The more you know about your own skills and capabilities, the easier it gets to pick the best team around you. Don’t expect you or anyone in your team to excel in both skill sets. And a successul team need to master both areas.
Questions to ask when facing a strategy execution challenge are the following:
- If I would pick a deputy, would I pick an executer or a strategist? – A vital choice in setting up your organization, as the one you pick should complement your strongest side.
- Who is your strongest strategy person for outlining a growth strategy? – It doesn’t have to be you but you have to have one strong profile of this type in your team.
- How do you view your challenges between defining strategy and strategy execution? – Brilliant strategies, are the ones that can be executed. Strategy and strategy execution shortcomings are often mixed together.
- Which frameworks do we have in place for strategy execution? – The secret sauce to succeed in delivering on strategy execution projects.
For additional reading here are a few ideas.