STRATEGIZE/PLAN; TEST/MONITOR; MEASURE/ANALYZE; DISCOVER/REFINE; PIVOT (AS NEEDED; REPEAT
Deliberate growth requires ongoing assessment and adjustment. Technological tools and entrepreneurial marketing applications have changed the optimization process extensively. It is mistake to think that the crafting of a strategic business plan or marketing plan has a clear end date. There is a difference between a process that drags out without achieving anything and understanding that such plans are living documents. A company’s strategic plan is an important framework and guideline, but that doesn’t mean that even strong, innovative and creative ideas inside them will always work. The framework doesn’t typically change, but the details and contents should.
Strategy needs to be adjusted in order to achieve deliberate growth. In today’s dynamic environment…organizations need to plan on this fact and account for it in their strategy. Successful entrepreneurs, business owners and management teams are constantly evaluating what works – and what doesn’t – and refining their implementation steps accordingly. Organizations need to take advantage of the extensive technological tools available in terms of analysis and big data. The key is to establish metrics that are relevant to the firm’s goals, and then monitor them closely for progress or red flags.