Three Keys to Bridging the Strategy-Execution Gap

Making Strategic Planning Hallucinations a Thing of the Past

As Thomas Edison once said, “vision without execution is hallucination.” The quote sums up the strategic planning pitfalls experienced by many companies — i.e., getting big ideas onto the page, but never into reality.

The biggest culprit of this “strategy-execution gap” is a lack of connectivity. While all companies may claim to have long-term goals, only the best are weaving that big picture objective into their intermediate, short-term, and day-to-day actions.

At Odyssey Advisors, our approach is different. We are your design-builder — helping you design the strategy and then walking the path forward with you, building your vision into reality – closing the “strategy-execution gap”. How do we do this? 

Start with Structure

Before a plan even goes into motion, we need to confirm that the structure of your company is aligned with the core functions of the business. Every business starts with the same four core functions: winning profitable work, doing profitable work, getting paid, and supporting the work. Often though, we discover disconnects between the company structure and these core functions, creating complexities and inefficiencies in the business. Structure is like piping; before we turn the water on with strategic planning, we need to make sure all the pipes are connected properly. 

Once the structure is in place, we need to make sure it is clearly communicated to the team. Everyone must understand their role and how it connects to the larger company vision. This helps prevent roadblocks and fosters a culture of accountability, driving progress and momentum forward. 

Engage in Efficient Strategic Planning 

Once the structure is confirmed and clearly communicated, it’s time to create connectivity by aligning the long-term vision with the execution in the day-to-day. The reason we call it efficient strategic planning is that it focuses on what truly matters, prioritizing key elements that crystalize your vision, design your strategy, and connect it to real-world execution. Instead of relying on cumbersome, voluminous strategic plans that often end up collecting dust, this approach is about getting straight to the point and walking away with practical steps to achieve your goals.

We start by crystalizing your company’s big picture, long-term objectives. Consider this your strategic plan’s “North Star,” which will guide the rest of your actions.

After establishing your long-term goal, the next step is to identify the highest-leverage, most important things you can accomplish over an intermediate period (i.e., three years) that contribute to your big picture objective. 

From your three-year goals, work backward to establishing your one-year goals – the highest-leverage, most important things you can achieve in pursuit of those intermediate objectives. As you can see, a cycle is developing here where every goal is building toward the future.

From your one-year goals we repeat the process to establish a set of 90-day goals. Following this process gives you the confidence to know that the steps you are taking each day toward your 90-day goals are in fact getting you closer and closer to your long-term vision.

Keep a Regular Pulse

Now it’s time to get executing. With a detailed plan designed that targets high leverage, high priority actions, it is crucial to give the most important a home in your day-to-day, allowing your organization to build momentum over time. This is where most strategic planning efforts fall as the urgent is allowed to supplant the important.

To keep the important front and center, establish a pulse where your team comes together regularly to discuss their 90-day goals. This keeps the 90-day goals top of mind in the whirlwind of the day-to-day, helps to create a culture where accountable people thrive, and turns 90-days into bite-sized sprints where team members can hit their goals every week.

Bottom Line

Bridging the gap between strategy and execution is the key to building your entrepreneurial vision into a tangible reality. As we’ve detailed, successful strategic planning starts with the right structure, creates connectivity between the long-term and the day-to-day, and gives the most important a home in your company.

Are you ready to make strategic planning hallucinations a thing of the past? If so, email me at info@odysseyadvisors.us and let’s start a conversation.