There are two things you must know – what strategy is and what it is not. “Strategy is about making choices of how to win with your customers and key stakeholders against the competition.” Every day, the competition is looking at your bread. They want to eat it and take all of it. This bread represents the customers who bring the money for the services you offer or products you sell. When leaders fail to make strategic choices, they have failed at strategic planning. This increases the chances of someone else having their dinner or taking over their target customers.…
Three strategic planning mistakes leaders make…
Have you ever attended a strategy retreat? What contribution did you make in your strategic planning process? How long did it take to get the final strategic plan document out? Do you know that many strategic plan documents do not have defined strategies? Get a copy of the final strategic plan document, you will find three mistakes: i) Lack strategy, ii) analysis paralysis and iii) a constraining vision, among others. Lack of strategy in the strategic plan Perhaps the biggest mistake in many strategic plans is the absence of clear strategy articulation. If you get a copy of any strategic…
Transform your business with us
Do you want to change your revenue trajectory instantly for your firm? Contact us to explore a strategic partnership to deepen your customer experience at an affordable fee. Are you an existing services firm – audit, legal or accountancy firm that has an existing clientele, but are having limited-service offerings? Here is an opportunity to tap into analytics, machine learning and artificial intelligence and strategy and risk automation solutions to offer new products to existing clientele and win. As our partner, you will tap into deep resources and expertise, increase your firm offerings, and broaden your revenue streams. Below are…
Is your business operating with faulty parts?
A car with a faulty part cannot go fast and far. However, some parts are more critical than others. An engine to a car is essential for it to move. If your car engine breaks down, it risks the life of the driver and all passengers. Great drivers keep looking at the car dashboard, continuously for any alerts or red flags for a safe and uninterrupted journey. An enterprise resource planning (ERP) system for any business is like an engine to a car. If you are using an inappropriate ERP, your business risks stagnating due to high costs from system…
Acknowledge weaknesses to fix it
Many leaders spend a lot of time convincing themselves that they do not need help. Most technical people are fond of giving rosy reports about how great things are going. Yet, at the end of the year, when independent reports are in, statistics show that an average company loses about 5% of their annual revenue to fraud, of which cybercrime contributes over 4%! Statements like “No one broke in.” “Our systems are very secure.” “We cannot be hacked.” “We lose 0% of our annual revenue to fraud and cybersecurity annually.” Are some of the common lies many leaders hear. However,…
The right mental focus
Whatever happens, take responsibility! No one likes people who run from responsibility. Average leaders place blame. Exceptional leaders take it. And here is the thing. They take it because they are in charge of the environment. It is easier to give excuses or find a scapegoat. It takes a strong mind to acknowledge the shortcomings and promise to make it right next time. Few leaders have that backbone. Be one of them and you will win. That is what I call the right mental focus. Mustapha B Mugisa, Mr. Strategy.
