This is a term that is thrown around all the time. Strategy. Strategic Planning. What is it? What does it mean to be strategic or to do strategic planning.
It may seem logical to some but so many business owners think they know what they are doing but when you ask for their strategic plan all you hear are crickets. Which leads me to believe they have never really thought about it OR they didn’t know that all their plans should have had a strategy around them.
1. A method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem.
2. The art and science of planning and marshalling resources for their most efficient and effective use. The term is derived from the Greek word for generalship or leading an army.
Can I tell you how exciting this word is to me? By nature CPA’s are really people who provide solutions or help a business owner with enough information which will provide an opportunity for them to put enough dots together that they can solve their own problems. We connect the dots.
In my profession, we have a bad habit of diagnosing and then spitting out solutions like a gumball machine. Put a quarter in and you get the gumball. Spend an hour with your CPA and you have strategy. It’s not that simple and realistically that should not be the expectation.
The above definition explains simply why it’s not…. “its the art and science of planning”. If strategy is not just science but also an artistic expression then logically no one (not even your CPA) can or could ever just provide a solution to a complex problem on the spot.
So what’s a strategy?
1. It’s a Plan
What do you want? In your most basic, simple thoughts and words possible. What do you want to do or be?
This is the creative part of your strategy. What makes your expression of what you do different? It’s all been done before. Don’t let that stop you. You have a unique and creative spin on what you do that solves a different or unique problem.
What do you need? Resources could mean people you need to work, skills you need to have, vendors you need to deliver the services and the most basic is money needed to implement your strategy.
If you go to quickly you forget to see the Greek meaning of word strategy “generalship”. Who are you leading? You have an army to build. Whether it be a customer base, employee’s or a whole dang industry. You are to be a leader. Strategy means you are the leader.
So, as I am writing, I can barely contain myself. This is exciting stuff. Strategy is not crazy hard what’s hard is our emotional hang ups, fears and belief systems around our strategy. This is why one of your resources needs to be people who love and support you through your strategy.
If you are navigating your strategy and need support we at MOD Ventures want to be there with you. We want to help you define your art and science in a way that is unique to you. We aren’t in the business of producing gumballs but we can be a long term partner to your strategic plans.