An Idea Is Only As Good As Its Execution

When we were kids we had no problem coming up with idea after idea after idea. Our imaginations were overflowing with where we wanted to be, what we wanted to create. And we just went out and created as close to that idea as we could given the resources we had.

And yes, our ideas of what the future looked like changed from inventor to writer to emergency services to astronaut, but we had the innate ability to see it, say it and then do our very best to make it so, constantly editing and adapting to challenges that arose. Fast forward to being the grown-up and businesses are still coming up with great ideas, only this time those ideas don't always come to fruition.

According to the 2020 Gartner Execution Gap Survey about 40% of executive leaders say their leadership are not aligned on strategy execution. So why is this and how can organisations bridge the gap?

Formulate & Plan:

It starts with strategy formulation. Strategies fail due to faulty assumptions. By challenging and testing and validating assumptions around customers, competitive advantage, appropriate milestones will be set. Moreover, many organisations don’t have a documented 3 to 5-year business strategy produced or shared. For many it's in the founder's head. Clarity and communication is everything when executing any strategy.

Capabilities Analysis:

Knowing what skills are in the business determines the success of a strategic framework. This is no time for ego, but a time to have the right people in the right area of the business. The founder will always be the founder, but may not make the best CEO. Where there is a gap bringing in resource, whether on a fractional or interim basis, ensures milestones set out in your strategy will be met. When key functions are not aligned with business and corporate strategies, there will be confusion and a lack of progress.

Capacity Management:

Strategists need to be clear on what can be achieved and when, including knowing how much finance is needed, and options for where it will it come from to allow for greater control on growth management. A healthy sales figure is fantastic - but only when there is the delivery resource. Strategist need to know where the gaps and bottlenecks are and bring in the wider team to figure out how to work through these challenges. They also need to know what the business continuity plan is for when a key person is out of the business for a period of time, as recent months have shown that a volatile landscape can be the undoing of any business. Know your people. Their capacity for change, and crunch the numbers for various scenarios to create flexible resource.

An Iron Will

Nothing is achieved when there is no imagination to create, reason to plan it out, or the will to persist and achieve. The results achieved in business are as much the reflections of mindset of the leaders of a business as they are the strategy itself. Failure is part of the learning. Having and creating a safe space to share failures is a key attribute of leadership and allowing for failures must also be a part of the overall strategy.

Effective execution is more important than ever. Supporting the team to avoid burnout essential. When everyone in the organisation knows what they are working towards, it allows for the realisation of ambition and drive and passion. There is great opportunity for innovation and enterprise but only if part of the strategy is to harness the key functions across the business, bridge the gap and turn entrepreneurial ideas into action.