A great Strategic Plan might be fit for purpose over a number of years, with minimal refinements each year as you “learn by doing”. It is therefore important to always focus on the “big picture” in your Strategic Plans. Jeff Bezos perhaps explained it best:
“It helps to base your strategy on things that won’t change. When I’m talking with people outside the company, there’s a question that comes up very commonly: ‘What’s going to change in the next five to ten years?’ But I very rarely get asked, ‘What’s not going to change in the next five to ten years?’ At Amazon we’re always trying to figure that out, because you can really spin up flywheels around those things. All the energy you invest in them today will still be paying you dividends ten years from now. Whereas, if you base your strategy first and foremost on more transitory things — who your competitors are, what kind of technologies are available, and so on — those things are going to change so rapidly that you’re going to have to change your strategy very rapidly, too.”
No matter what, never forget your Purpose and Values – because they make owning and leading your business worthwhile, and give your Strategic Plan its true meaning.
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