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Strategy at speed
A guide to effectively applying high-speed strategy at a business , functional or initiative level .
BY REBECCA HOUGHTON
Ask any C-Suite leader how often they get to focus on the “ The Strategy ” and they ’ ll tell you about five to ten days a year . Ask them how often they are being strategic and they ’ ll look at you funny – it ’ s every minute of every day .
I work with the C-Suite and their reports , the B-Suite . As a B-Suite mentor , I too often hear mid-level leaders bemoaning that their job doesn ’ t offer them the opportunity to be strategic or work on “ more strategic initiatives ”. The concept that a more senior or more experienced leader gets to spend more time on strategy is one of the holy grails of leadership ; unless your job title is “ strategy manager ”, it doesn ’ t really exist .
Another fallacy that I hear often is , “ I can ’ t build a strategy for my function in the absence of one for my company or department ”. While it ’ s certainly easier to align your strategy to the corporate or functional one , it ’ s not essential – you can still build a strategy that fits your remit and guides your outcomes . Don ’ t wait .
The third complaint I often hear is , “ I ’ m at the mercy of other people ’ s strategies ”, which is truly disempowering . By building your own agenda , you have a platform to support theirs and negotiate when the time is right . By failing to do so , you ’ ll forever be at the mercy of theirs .
So how can you make that shift , build strategy at high speed , and become a B-Suite leader with C-Suite impact ?
Big S or little s ? First , adjust your mindset . Being strategic ( little s ) is something you can do today and every day without permission or promotion . By doing it consistently and well , you ’ ll craft a reputation for being strategic – even before you get invited to contribute to The Strategy . Waiting to be invited to contribute to The Strategy in order to show how strategic you are is the wrong way around . You decide .
Limit your approach for limitless results Shorten strategic horizons . The five-year plan is dead . As a B-Suite leader , you should be clear on what your business strategy thinks will happen in two to three years and shape your functional strategy around one to two years . This will ensure that you don ’ t overwhelm
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insidefmcg . com . au – JAN2022 yourself with possibilities and focus on why , how and when your business will deliver the key contributions that support the corporate strategy .
Shorter planning horizons . Shorterterm planning allows you to measure progress more closely , allowing you to pivot if something isn ’ t having the anticipated effect . Hitting short-term goals also motivates people , simply because progress promotes more progress . I recommend quarterly horizons to ensure you are delivering on your goals and adjusting to new information and opportunities .
Shorter deck . I coach my leaders to develop a three-page deck for their strategic thinking , comprising :
• Strategy : this will ensure you focus only on what matters , you can communicate it easily and your audience will remember it easily . If it ’ s short and memorable it will get done . If it ’ s a 10-page document , it won ’ t even get read .
• Prioritisation : agreeing your criteria for decision making as part of your strategy development means you can make decisions rapidly without having to do over . Criteria for prioritisation are one of the first things that gets forgotten , and this slows us down .
• Plan : 12 – 18 month plan outlining key deliverables , milestones and metrics per quarter .
Strategy : fast and slow Being strategic doesn ’ t mean being slow – and acting fast doesn ’ t mean you do it without strategic considerations . Dan Kahneman ’ s Thinking , Fast and Slow explains that brains have two speeds . In the same way , strategic thinkers also operate at two speeds .
Speed one is long range and commonly called keeping your eye on the bigger picture . It exists to remind people why
you are doing what you are doing and where it will take us .
Speed two is short range and ensures you deliver incremental value at regular intervals along the way , to keep your stakeholder engaged and keep proving your strategic value .
Strategy is not a solo sport One big mistake that leaders often make when trying to develop a strategy quickly is to forget to engage others to contribute to the process ; even when it ’ s a quick one .
I know what you ’ re thinking – the more people I get involved , the messier and more drawn out this becomes .
Too many of the wrong people will decrease your chances of alignment , so pick your stakeholders carefully . Ensure they are relevant contributors and invested beneficiaries . Anyone else will cloud your ability to agree a strategic direction , make important decisions , agree a roadmap and do it all at speed .
Failing to engage the right people will result in a lack of alignment to your strategy . This will derail you over a protracted period of time – your strategy , priorities , ability to make decisions , and timelines will all be challenged at every step of the process .
The great news about high-speed strategy is that it can be applied at a business , functional or initiative level with great effect , so if you ’ re struggling to be strategic at speed , find yourself at the mercy of other people ’ s priorities or feel that you need to anchor your plan to someone else ’ s strategy , try doing business differently .
REBECCA HOUGHTON , author of Impact : 10 Ways to Level up your Leadership , is a leadership and talent expert and founder of BoldHR . Visit www . boldhr . com . au