AMPLIFY DAILY: Strategy vs Planning vs Implementation (Day #58 of 365)

Thomas K.R. Stovall
Thomas K.R. Stovall
All Posts By TKRS

DAY #58 OF 365 | Tuesday, February 27th, 2024

YESTERDAY’S RECAP

If you missed yesterday’s AMPLIFY DAILY, I talked about the value of hosting live events.

Many highly successful people are scared to host a live event…

Not because they think it won’t work…

But they’re as scared of the live event setting as they were in 5th grade…

Hoping that their classmates come to their birthday party.

Strategy vs Planning vs Implementation

CATEGORY: Strategy

In today’s video, I’m talking about the difference between strategy, planning and implementation.

People throw around the word “strategies” loosely… 

With no regard to it having a defined context in the conversation.

My personal definition of strategy is a defined set of actions to take, over a defined period of time…

With the intent on producing a specific, predetermined outcome.

If strategy is the “what” we’re doing…

Then planning is the “who, where and by when” of the scenario.

Implementation is the actual work to DO the DOING…

The people you pay for strategy may not even really understand what strategy is…

In my experiences, many business owners and contractors who they hire…

Including the ones they hire to manage their strategy…

Don’t really understand on a baseline level the difference between strategy and planning…

The reality is a strategy can also be thought of as a high-level “plan” that has the important points of what we’re doing…

But doesn’t get into the nitty gritty details and logistics of HOW we’re actually going to execute that strategy.

Every good strategy and plan BEGINS with assessment, and is anchored to a goal…

What is our goal, and what are the fixed and intangible resources we have at our disposal to reach that goal, inside of our defined time frame?

Resources might be cash, credit, time, specialized knowledge, relationships, career identity, etc…

BEFORE we start planning, when we compare our resources against the goal…

It becomes clear that certain pathways are not going to be ideal to focus on, for whatever reason…

And the pathway to take and strategy or strategies to focus on also become clearer.

But if you skip steps and jump right down to the planning and implementation…

Your choices for which actions to take, and in what priority order to take them will lack context…

Which is akin to throwing spaghetti against the wall, and based on what sticks, just doing more of that…

This is not STRATEGIC planning, it’s unfocused action…

And unfocused action does not produce PREDICTABLE results that move you toward a DEFINED goal. 

This doesn’t mean that you will not have results…

But without planning inside of clear strategies that are anchored by a defined, measurable goal…

Your choices are unlikely to reflect the fastest and most efficient growth path for your company.

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Don’t hesitate to reach out – tkrs@thomaskrstovall.com.