Strategy has played a large role in many different fields, including warfare, politics, sports, and business. The right business strategy has catapulted many humble startups into overnight successes. As a business owner, company leader, or even a rank and file employee, thinking strategically can supercharge your success in the workplace. Just as generals and head coaches study plays and stratagems, you can learn how to think strategically in the business world.
As a business executive and entrepreneur, Kye Giscombe has formulated business strategies that are responsible for the success of companies such as Estate Law Center, Contact Sports, Inc., and Cosmo Horizon. Kye Giscombe commented, “The first step of strategic thinking is setting ambitious, but realistic goals. Where would you like to see your company in the next year? Where will your company be five years from now? Once you have a vision for the future, you can craft your strategy around the steps you can take to reach those goals and the potential setbacks that may arise.”
This starting point may help you formulate an outline for your business strategy, but as the old proverb says, plans often fail for lack of counsel. Before deciding to enact a plan on your own, find wise, trusted colleagues with a multitude of experiences to look at your plan and discuss it with you. They may have other useful ideas that can help refine your strategy and address its weaknesses.
Kye Giscombe continued, “The more information you have, the better your strategy will be. Advisors who you trust can help you see the bigger picture and catch any variables you may have overlooked. Plans can fall apart if there is a challenge or setback you haven’t accounted for. You won’t be able to foresee every possibility, but you can prepare yourself for success by eliminating the worst-case scenarios.”