Creating a robust strategy is essential when it comes to paving the way for business success. However, it’s just as crucial not to stop there. No matter how exceptional your strategy is, it’s nothing without the momentum to turn it into results. Execution is just as important when it comes to bringing a strategy to life. But what does that actually mean in practical terms and how do you ensure that you’re approaching it in the right way to get the best results?

The link between strategy and execution

Many business owners today already appreciate the necessity of a well thought through strategy for their enterprise. In fact, you may have dedicated time and resources to creating this yourself. Perhaps you may even have started taking steps towards making it a reality. However, in so many situations the execution of a strategy is poor and, as a result, the outcomes and goals that have been defined at a strategic level simply don’t happen. There could be three key reasons for this:

  1. A lack of discipline on the part of the business owner in terms of being truly committed to ensuring that strategy was proactively executed to ensure success
  2. An approach that lacks the requisite focus on action or understanding of the link between strategy and execution
  3. Getting caught up in the day-to-day busyness of running an enterprise, as opposed to focusing on execution, how to make it happen and what might be required to make strategy a reality

What does execution actually require?

It’s easy to fall into the trap of assuming that execution simply requires “doing” and that any type of action will help to turn strategy into results. However, this is not the case. There is actually a lot more involved in successful execution than many people realise.

  • Ensure that you have clarity of purpose. Before any execution gets under way it’s important to be clear about purpose, including the overall results that you’re aiming for and the role that you, yourself, will have to play in the process.
  • Accountability and monitoring. Execution is not an instant process and in most situations monitoring of key metrics will be crucial to ensure that you remain focused and are moving in the right direction towards the strategic goals you have defined. Just as important is transparency in terms of who is responsible for which part of the process and holding people accountable when expectations are not met.
  • The importance of collaboration. Executing strategy takes more than one person within a business and so it’s essential to plan how coordination and collaboration will work to support the steps you need to take to achieve your desired outcome. Planning this out in advance will also help to create more confidence in you as a business leader and ensure that there is momentum and motivation to execute strategic goals properly at all levels of the business.

Bringing strategy to life involves a commitment to action – but not just any action. Well prepared and delivered execution is the key to ensuring that your business is able to grow and thrive.