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The Big Questions #3 - Raven Strategic

The Big Questions #3

Why is ‘hope’ not a legitimate strategy?

By Daryl Raven

Strategy is about action, about taking control – plotting a path and taking the required steps to get to your goals. If you’re too passive in the pursuit of strategy you’re likely leaving too much of your future in the hands of hope! So how can you avoid falling into the ‘hope’ trap?

Don’t miss a good opportunity: Don’t hope that your competitive marketplace will continue being favourable – pounce now, double-down, and capitalise! Put your hands on the steering wheel to ensure that your good work, or even good fortune, continues. If you sit back and hope – someone else will likely take it from you. Your strategy should not have to wait for a tomorrow that may not come.

Reward ‘good’ failure from your leaders: Ensure you are leading a forward thinking business – reward success on business goals, not an individual’s success or failure in their work. This allows your leaders the chance to try new things – and push the boundaries, without it being tied to their monetary rewards. A strong company strategy needs people who are willing to make the big calls – don’t encourage people to hope for the best.. challenge them to go out and fight to be better.

“Your strategy should not have to wait for a tomorrow that may not come”

Honestly allocate your resources: Simply hoping your resources will continue performing well, or potentially even perform better, is not a strategy. You need to proactively assess, renew, and potentially re-allocate them to drive better performance. This requires a willingness from leaders say “no” to some priorities so that they can say “yes” to others. Yes this may create some uncomfortable conversations between your leaders and teams – but in doing this it enables you as a leader to actually commit to strategic initatives for your business – which staff will see, and buy in to.

Of course having data that backs up the rationale for such prioritising decisions makes the conversations easier – it also ensures that the most valuable resources have their time is allocated based on the top business priorities.

To give yourself the best chance at not falling into the realm of ‘hope’ – You can click here to read more about Raven Strategic’s detailed Business Strategy tools, or contact us today to chat in more detail specific to your business.

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