I read a great quote the other day:
“Execution is the game” – Gary Vaynerchuck
There’s an important and obvious message in this simple statement: take more action.
The failure to execute is something that plagues companies of all types – startups, SMEs and large enterprises, with each having their own unique challenges.
Typically, larger companies suffer fatigue in this area because of overly bureaucratic processes and internal communication issues, specifically relating to the company’s strategy and vision. Often, leadership aren’t properly communicating to the staff and, as a result, staff aren’t taking the appropriate steps to execute for the organization and drive it forward.
A 2016 study by Bridges Consultancy International supports the above, with their findings showing that 67% of well-planned strategies failed due to poor execution, with 61% of executives citing communication difficulties as a major contributor.
If we shift the lens to startups, their execution failure stems from a variety of reasons:
However, the one trait I’ve noticed most, is over-planning.
Don’t get me wrong, planning out your steps, strategy and future is essential, and everyone should be working with a blueprint, however, there’s a fine line between effective-planning and over-planning – with the latter stifling action.
Uncertainty doesn’t sit well with us humans – it causes anxiety and feels uncomfortable, so naturally, we plan as much as possible, in the hope that we can eradicate all of the ‘unknowns’…but even the best laid plans may not help you when the unexpected happens.
The truth is, in business, as in life, there are always unknowns and it’s more about how you react to these situations when they arise, rather than how they fit within your plan.
So, drive forward, and execute like your life depends on it.
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