Many don’t. Execution is where most firms falter.
When leaders expect results but fail to achieve goals, the missing link is inevitably a lack of execution. Look at it like this: A strategy is really just a road map to help get you where you want to go. When leadership is unable to implement strategies, it’s like trying to navigate to a destination without leaving the present location.
Firms invest a lot of time, energy, and money into developing a strategy. If it is not put into effect, it is a wasted effort. Companies cannot grow without a plan in place that is fully actionable. To that end, a great strategy will start with incremental change that leads to big results – not the other way round. Ultimately, leadership must assign ownership, specify deadlines, allocate resources, track progress, and measure results. A successful implementation ensures performance, creates reduced attrition of clients and staff, and establishes sustainable growth.
Implementation and consistent evaluation, including benchmarking, redirecting, adapting, and evolving in a static environment, enables a firm to grow and thrive. And this is the firm that keeps existing clients, attracts new ones, remains an employer of choice, and solidifies its place in the community.
Becoming successful isn’t about having the plan. It’s about implementing it.