“The essence of strategy is choosing what not to do.” – Michael Porter.
One of the biggest risk you can ever take on business or anything in life, is to disregard the advantages of a proper strategic plan.
Yes! It’s good to have this great idea, and just do it anyways; what if you don’t get that lucky and you encounter multiple setbacks, are you just going to give up now?
I have had like a thousand risks in my entire years of being – some, I do regret, many others, I’m mostly grateful for the failing outcome because it all just led me to where I am today.
And so… My actual 4 reasons why you should consider strategy are;
- A Sense of Direction: Many times we do things without having a clearer picture of; what it is that we want to achieve, where we are going, or even how to make it a reality. It is important that even after you have made the first step, which is starting up, you fix in your head mentally what you are aiming at. The subconscious mind will always be fixed on making a plan that will work, certainly.
- Measurable Goals: When you list out a 5 major goal plan, you’ll realize that each goal has like multiple plans in them. Example of a measured goal; An iPhone 8+ -> Cost N249,999 -> Where to buy -> How to accumulate the Phone -> When to get it. See, this is a concise ‘Strategy on Strategy’ kinda plan, and you need this.
- Risks & Returns: I got this from the title of a book but, the true meaning of this reason is that, you’ve got to take risks in life. If you work a little bit looking pretty because you’re scared to do something or just take a chance, you’re never gonna get any achievement or improvement. The lower the risk, the lower the return, but the higher the risk, the high potential return you will get.
- Execution: So now you have all these plans together, but you really don’t know how to go about them; well, the good news is that you can start from the most basic priority to get to the biggest factor of executing your plans. Don’t just think or write out those plans, it is very important that you set a fixed date as to when you want to take action and accomplish that goal.
Looks like I’ll be doing more of this article; This was based on request from 3 of my amazing Instagram friends. Thanks for reading!