You must have encountered situations in your daily life wherein there are two person with the same intellectuality level, working in order to achieve their life goals. Considering the example of entrepreneurs who’ve recently launched their startups. From research, it has been observed that roughly 95% of the startups launched in India fail to make an impact in the market, and as a result dissolve. As you know that the foundation of a startup depends upon the idea of business. So it’s very obvious that the promoters of those startups must be having great ideas to execute. But then also, only 5% of them are able to really to execute and implement their ideas effectively.
So why do you think there is such high failure rate in the proper management and execution of startups with such great ideas?
The answer to this mega-question is ‘STRATEGY’. Most of the entrepreneurs have great ideas to be worked upon, but what they lack in is strategy to achieve their target. Planning is always easy, but what challenges an entrepreneur is the implementation of that plan. In order to achieve desired results in a campaign, be it business, academics or anything else, it requires a rock-solid strategy, which will ultimately make us reach our target. The difference between a winner and a failure is strategy. Both of them may have the same intelligence, but only because the first person has a better strategy than the rest, he takes away the title.
If we go on to define strategy, strategy is a long-range blueprint wherein we define what is to be done, what is our target and the necessary sequential steps to be taken in order to achieve the target.
This quote perfectly highlights the significance of strategy in one’s life –
“A person without a strategy is willing to try anything.”
From the quote above, it is conclusive that strategy streamlines the business processes of an organization. It helps the business to focus more on what matter more. If a person works without a strategy predefined, he is probably just going with the flow and experimenting in any direction. It is to be noted that only moving doesn’t bring success. The direction must also be correct in order to achieve success. Only moving is not sufficient, moving forward is significant.
Now, that we have seen the importance of strategy in one’s life, in this course, we are going to learn how we can make a strategy suiting perfectly to our needs, and get out as a winner. We’ll be covering every minute details regarding the steps to taken, characteristics of a great strategy, measuring success, and what to do when there is a disruption in our strategy.
Read ahead - The Basics to Strategy