Start with the End in Mind

 There was a great article a few weeks ago in the Harvard Business Review by David I. Collis, Michael G. Rukstad titled (Can You Say What Your Strategy Is? ).  The article highlights that “most executives cannot articulate the objective, scope, and advantage to their business in a simple statement.  If they can’t, neither can anyone else.”

So how does an organization develop a successful and clear strategy?  With the end in mind.  Not a literal end but a place in the future no less than three years and no more than five years away.  Anything less than three years does not provide enough time to deal with the real challenges and changes that will be needed to be successful.  Anything more than five becomes un-grounded in reality because there is so much evolution in the marketplace driven by the advance of technology.

New Kauffman Foundation Study Offers Insights Into the Earliest Years of a New Business

Kauffman Firm Survey findings provide insights for policymakers interested in encouraging new business development and growth(KANSAS CITY, Mo.) March 12, 2008 — Understanding the characteristics of new business formation and sustainability can help lead to policies that encourage entrepreneurial businesses, which are a major driver of economic growth.