Strategy Or Execution: What Matters More?

Photo by Denys Nevozhai on Unsplash

Strategy matters.

A good strategy differentiates your offering. It galvanizes the right resources to their best effect. It positions your organization for success. 

A good strategy, though, is just the starting point. Once you’ve mapped out your path, you still need to run it. 

And a badly run race will slow you down, allow your competition to gain on you and overtake you, possibly even prevent you from finishing. 

In other words, execution matters. A lot. 

In fact, I’d suggest execution matters a whole heck of a lot more than strategy. 

Don’t get me wrong - you still need a good strategy. It has to make sense and be thoughtful. And a great strategy is even better - think smart, think different, think beyond the traditional confines of your industry. All good stuff.

But if you’re not executing, then it doesn’t matter how good your strategy is. You’ll get lapped by those folks who are consistent and persistent about doing what needs to be done, putting in the work to deliver the product, come hell or high water. Even if you think their strategy is average. 

In other words, ideate, create and plan all you like. But at some point, you just need to start doing, smartly, consistently, persistently, and get it done. 

Set clear goals. What needs to get done?

Get buy-in from the right people. That doesn’t mean everyone, by the way!

Define accountability. Clarity matters in terms of who is going to get what done.

Empower decision-making. Let the right folks in the right places make the decisions that keep us moving forward.

Define the right metrics for each goal. Measure what matters - don’t go crazy on too many metrics

Allocate resources wisely. Don’t get spread too thin - you cannot do everything.

Push your timelines. Be clear and aggressive on when.

Measure progress and performance. Actually collect, analyze and interpret the right data.

Feedback continuously - to whoever and wherever it matters. Act on the metrics - make decisions.

Learn. Don’t be afraid to change and redirect.

Strategies are cool. But great execution is what ultimately delivers real value.