We use the word “strategy” to describe so many different ideas. Whether it is a plan for a business or a personal approach to solving a challenge or creating a framework to build a project, “strategy” can mean multiple different things.
Strategy is one of those words that encompasses whatever you want it to. At its core, a strategy is a plan or a guide for making decisions in a specific setting. That framework you create and call a strategy should be well-researched and provide specific direction, and it is usually tied to tactics. So, you have a plan (the strategy) that is made up of tactics (the things you do).
Not only can a strategy increase efficiency, but it can also increase productivity because there is a clear direction. A strategy can also decrease the amount of time one spends “spinning their wheels.”
A strategic plan can also go terribly wrong and lead a team into a rabbit hole of no return. If the plan includes poorly executed research, unclear goals, babbling hordes of unnecessary text and poor communication.
Regardless of how you plan your route, create a program of strategic planning in your business. You will find that consistently adding this step can help your business grow in a positive direction that may not have been possible without it.