Which is more important, strategy or execution?
The answer is they both are. But with less than a quarter of the year to go, your focus now needs to be on execution. Winners run hard through the tape, they play till the final whistle blows to end the game. Each day you should be asking yourself, how can I best execute today, and how can I make each day count. With one quarter to go it is daily, not weekly or monthly anymore.
Here are some questions to begin to think about. A strong strategic plan must address the following questions:
1. What is the assessment of the external environment?
2. How well do you understand the existing customers and markets?
3. What is the best way to grow the business profitably, and what are the obstacles to growth?
4. Who is the competition?
5. Can the business execute the strategy?
6. Are the short term and long term balanced?
7. What are the important milestones for executing the plan?
8. What are the critical issues facing the business?
9. How will the business make money on a sustainable basis?