Updated: Aug 30, 2022
How a Boat’s GPS Relates to Business Strategy
I recently started boating again after a lengthy hiatus. Like many things in life, there have been technological advancements in the boating industry. Most notably, there’s been a shift from reliance on laminated charts to GPS. I’m mesmerized by the navigational and small-scale charts on the touch screen. Identifying and understanding the dangers and challenges that exist subsea has become easier and more efficient. Knowing where I’m headed, and how I’m going to get there is critical to a successful journey. The same holds true for any business or organization, big or small, wanting to plot a course.
Chart Your Route: Develop a Strategy To Prioritize Your Goals
A business strategy serves as a plan, much like how a GPS charts a boat’s route. It provides practical and specific direction in order to reach a destination. It’s especially helpful when working in complex and uncertain times, but it should be utilized always, not just for stormy seas.
There are many elements to consider when developing a strategy for your firm, including vision and mission, goals, objectives, values, and resources, as well as business strengths and weaknesses. A strategy will help ensure resources are aligned, and support the goals of the organization.
Steer in the Right Direction: Engage Others To Execute Through Monitoring, Analyzing, Planning, and Adjusting
But no plan (or charted course) is complete without careful execution. Regular assessment and adjustments are often needed. Understanding the current and shifting business climate comes with challenges and opportunities. This includes meeting client needs, analyzing competitors, developing pricing and spending, accessing capital, and improving employee morale. To do this, business leaders need to monitor, analyze, plan, adjust, and consider corporate buy in. The most important goal is to make sure your employees, who are your crew, are powering in the same direction as leadership. Implementation will demonstrate corporate leadership direction for overall priorities.
From the Captain’s Seat: The Pivotal Growth Strategy
At Pivotal Growth Inc., our strategy considers where we are headed. Articulating and actioning this direction to employees and partners is key. We use it to influence our position in the marketplace, and understand the interrelationship between a number of key factors, including the company’s people, client needs, business demands and opportunities. We use our strategy when considering communication, including promoting a range of our services and celebrating successes.
The Pivotal Growth Inc. strategy has been immeasurable in helping us achieve our results. In 2021, we reviewed our strategy as we were evolving our small business. We made a fundamental shift away from providing primary coaching services, and rebranded from Pivotal Coaching Inc. to Pivotal Growth Inc. This shift highlights a specific focus to be a professional services firm that uses employee experience technology to provide accelerated leadership diagnosis, consulting, and customized actions and implementation for executive leadership development. During this time, we benefited from our client’s investment in leadership, and are seeing strong growth. We’re successfully implementing and executing our strategy. We are regularly analyzing our industry and business climate. This helps inform our decisions, including any adjustments that may be needed. We are investing in our resources and ensuring they align with our business goals.
Check Your Course: Stay Focused on the Right Direction
I suspect that many of you already have business strategies. I hope by reading this you are reminded to check in on your course. If you haven’t done so lately, it most likely will help you reaffirm or redefine your purpose and bring focus to your business. It’s also a great reminder of what you have accomplished and achieved as a business owner and leader; the moments and measures of success that we often encourage you to pause and take in.
Don’t wait until your business climate or circumstances have changed, and the fog has rolled in. Adjust your plans and resources as needed. Be proactive with your strategy and stay abreast of any identified changes through your planning and execution. Use your strategy to guide your work and spend the necessary time analyzing the business context.
Celebrating a Successful Journey: Takeaway
Think of your business strategy as being similar to a boat's GPS. Both chart a course that help you reach a defined destination. The key to creating a solid business strategy is to consider all challenges and opportunities and to plan accordingly. Learn how Pivotal Growth's strategy has evolved, and where we're headed in the future to better meet our clients’ needs. May you navigate with ease!
Want more data on your team’s capacity? We can baseline assess your team’s use of strategy, leadership and execution skills capabilities.
About Author: Buddy Walzak, Chief of Staff
Buddy Walzak is Pivotal Growth’s Chief of Staff. He’s focused on ensuring we are an industry leader, and sustaining the exceptional client experience our clients have come to expect. Buddy leads strategy development, and plans to capitalize on the accelerated growth and commercialization of our proprietary leadership diagnostic. He supports our founder in executing strategic decisions, plus measures and evaluates projects and results.