Are you starting to worry that your strategy is not delivering the desired results?
Depending on how long it’s been, you might be tempted to go back to the drawing board and develop a new way to meet your goals or objectives. But is it too soon? Have you given yourself and your team enough to adapt to the fresh approach?
Before you call a strategy meeting or start from scratch, ask yourself these questions to determine whether you need to give it more time or come up with another idea to get results.
1. Has Your Team Completely Adapted?
When you roll out a new strategy that requires different processes and approaches, it will take time for your team members to adapt. It doesn’t all sit on their shoulders either. This is your vision. You need to provide coaching and development to help bring it to life.
Before you look at changing your strategy, complete an assessment of your team. If everyone has adapted to the new way of doing things, but the results aren’t coming, it might be time to mix things up. However, if your people are struggling, then they need to be your focus first.
2. Do You Need to Make a Small Adjustment?
You must review your strategy as you’re implementing it. It will help identify gaps you might not have considered or areas where you can scale up. You might not achieve the objectives you set out, but if you can make a few minor adjustments, this might change.
Making tweaks to your plan can be much more effective and a lot less time-consuming than starting over. You can only guess or forecast so much. It’s impossible to get it 100% right. Aim for 80% and build from there.
3. Have You Given Your Strategy Enough Time?
Some leaders wanted results yesterday. It doesn’t work like that. Patience is one of the attributes that many senior executives don’t possess. You will have to manage up and provide them with milestone timeframes. It’s up to them if they can provide you with the support to speed things up.
You should avoid changing your strategy within three months. During that time, you must review your progress and make adjustments. When this time is up, determine if you’re on track, behind schedule, or further ahead than you thought. This will show if you need to change anything.
4. Is It the Market?
Before making any changes to your strategy, be sure to do a market analysis. Speak to colleagues or review data from competitors if you can. If it feels like performance is down across the industry due to other circumstances, then the problem might not be your strategy.
You can’t change the market. You can only work within it. Instead of scrapping your strategy, re-forecast the results you’re aiming for and create stretch goals that can help you get closer to your original objectives.
5. Are There Any Learnings?
The answer to this question must be yes. You should constantly be learning throughout the implementation of your strategy. Again, it’s doubtful that you’ll foresee and execute everything your customers expect flawlessly. There will be surprises that pop up from time to time.
The real question you need to ask is what you are doing with these learnings. Are you ignoring them or making adjustments based on your discoveries? Hopefully, you’re implementing them into your strategy to make it stronger.
Is Changing Your Strategy the Right Move?
You came up with your strategy for a reason. You did the research and put the work in to bring it to life. Before returning to the drawing board, figure out why you need to change it. There’s nothing wrong with changing your strategy. But, you don’t want to make it a habit, or it will cause too much disruption internally that you will have trouble successfully executing it.
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