You will find endless checklists on what to do or not do for business success, but here’s a nice set of warnings from Patrick Van der Pijl. And here’s some more about each, and what we can do about them.
- “One-Size-Fits-All” – Assuming that what worked for one company will magically work for yours.
Maybe, but I have explained (sdl.re/vem18) that businesses in similar sectors share near-identical system structures. And common challenges across different settings likewise conform to standard structures. So very similar principles will apply to planning and managing strategies for those sectors and challenges, though the details will of course vary.
- “The Crystal Ball” – Believing you can predict the future with absolute certainty, like a fortune teller at a carnival.
Sure – and the hopeless forecasts we all recognise are inevitable if we have no idea how the system driving our trajectory into the future actually works. But, armed with a rigorous and validated model of the business system and its interactions with customers and competitors, we can explore likely outcomes and their sensitivity to uncertainties and strategies.
- “Ignorance is Bliss” – Ignoring data and analytics because they’re just boring numbers, right?
Too right! Just let’s be clear what factors we need numbers for, and what to do with them when we’ve got them.
- “The Emperor’s New Clothes” – Surrounding yourself with “yes” people who only tell you what you want to hear.
It’s a shame how often “leadership” is interpreted in exactly that way – find the Emperor who knows the answer. And let’s beware the psychopath CEO who – though the key character who should heed this warning will be the last to do so.
- “The Shiny Object Obsession” – Chasing every new trend like a dog after a squirrel
I guess Patrick is warning us here about management fads, like ‘Right-first-time’ and ‘Net-Promoter Score‘. Yes, let’s engage our brains and check out exactly what that next shiny object is doing and how truly useful and reliable it may be – if at all!
- “Analysis Paralysis” – Over-analyzing every detail until you’re stuck in an endless loop of spreadsheets and coffee.
Yes indeed – especially when said spreadsheets can’t give you the right answer in any case, and/or can’t handle the range of dependencies driving even the simplest of business issues. (See just how poor a tool is the spreadsheet). But let’s be sure that we do do the analysis we need, using the right tools.
- “Set It and Forget It” – Creating a strategy and then locking it away like a fine wine, hoping it improves with age.
Depends what we mean by “strategy”. Successful businesses do not keep changing their mind about what they do (who to serve, with what products/services, and how) – but they sure do keep adjusting its implementation … see “Position is not strategy“
- “The Lone Ranger” Thinking you can do it all by yourself without input or collaboration.
Closely linked to #4, above. We sure need the team to share an understanding of how their business system works and performs – which is exactly what digital-twin business models offer.
- “The Copycat” – Imitating your competitors’ strategies like you’re copying answers in high school.
See the answer to #1 above.
- “The Perfect Plan Illusion” – Waiting for the perfect plan before taking action, as if unicorns will start dancing the moment you press “go.”
Yes – and recognise that we are always taking action, whether we think we have a perfect plan or not. The clue is in the phrase “strategic management” – strategy is a continual process of adjustment.
How to build and implement a strategy? Check out my online strategy course, with Worksheets and over half the content focused on how to make the strategy happen! And there’s a short ‘Essentials’ option too.