Making a strategy for a business is not a far-fetched concept, nor is it something that is only suitable for large corporations.
In today’s era of volatility, instability and fierce competition, having a clear strategy is a prerequisite for a business to not only survive, but also develop sustainably.
However, in order to build a correct and effective strategy, many businesses are forced to face the truth: they cannot do it alone. That is why the role of a strategy expert is becoming increasingly important and irreplaceable.
Why is it necessary for a business to have a strategy?
If a business is a boat, then strategy is the rudder that guides the direction. Without a rudder, the boat can still drift – but where it drifts to, whether it reaches the shore or not, is another story.
Many businesses start well, grow quickly at first, but the further they go, the more they lose their way. They fall into a spiral of working by inertia: seeing a product that sells, they continue to expand, seeing a new market, they jump in, seeing competitors running ads, they follow suit. Without a clear strategic map, businesses can easily get caught up in disjointed activities that waste resources but do not create sustainable advantages.
Strategy helps businesses see the big picture: where they stand in the market, who their real customers are, what are the strengths that need to be promoted and the weaknesses that need to be overcome. In particular, strategy is not just about setting goals, but also about determining the most appropriate approach to achieve those goals, based on the actual capacity of the business.
Why shouldn’t businesses do their own strategy?
In reality, many small and medium-sized businesses (and even large companies) choose to build their own strategies, with the mindset that “no one understands you better than you do.” This sounds reasonable, but it often leads to serious mistakes..
- First, as an insider, businesses are prone to “internal blindness syndrome” – failing to see bottlenecks, or overestimating their own capabilities and positions.
- Second, strategy is not just a matter of intuition and experience, but requires systematic thinking, data analysis capabilities, and deep market understanding. This is something that not every business has the internal resources to undertake.
An outside strategist, if qualified and experienced, will bring an objective perspective, a methodical approach, and ask questions that people inside the business often avoid or do not have enough information to answer. They not only help the business find the right direction, but also accompany in concretizing the goals into feasible action plans.
Common “traps” when businesses write their own strategies
Many businesses when writing their own strategies often encounter the following problems:
Confusion between strategy and plan:
Setting a series of targets for revenue, growth, and market share expansion does not mean that there is a strategy. The goal is just the destination. The strategy is the path to get there – there must be calculation, consideration of resources and selection of the most effective approach.
Mechanically mimicking the competitor’s model:
A fashion company sees another brand adding a sports line and follows suit. A retail company sees another brand running an 80% off sale and jumps in. But without understanding your resources, cost structure and customer characteristics, any effort is likely to fail.
Too much and lack of selection:
There are businesses that want to do everything, serve every customer segment, provide every possible service. But the more they expand without control, the easier it is to lose core competencies and fall into a state of “half-heartedness” on all fronts..
Strategy without Execution:
A good strategy cannot just exist on paper. It needs to be translated into concrete action plans, with clear responsibilities, resources, and measurement mechanisms. Otherwise, the strategy is just a pretty – but useless – presentation.
Doing strategy the right way – from the ground up
Strategy does not need to be fancy. It needs to be correct, sufficient and feasible. A good strategy usually does not start with “what to do”, but with “why to do it” and “what will happen if not done”. A business that is serious about strategy is a business that dares to look back at itself, dares to cut out ineffective activities, and dares to go slowly to go further.
Choosing a strategist to partner with you doesn’t mean giving up control. On the contrary, it’s a way for business leaders to make better-informed decisions, with better analysis, and with a clearer vision.
If you really want your business to grow in a direction, to use resources in the right places, to avoid costly mistakes, and to achieve leadership – then strategy is not a nice-to-do, it’s a must-do. And choose a partner who really knows the game – not just someone who’s good at talking.
