In the world of business, strategic planning is often treated as the cornerstone of success. It’s mentioned in leadership meetings, growth workshops, and consultant pitches as the golden ticket to achieving long-term goals. But what many overlook is that strategic planning only holds value when it’s grounded in a well-defined strategy.

Without a clear strategy, planning becomes a superficial exercise that can lead to wasted resources and misaligned efforts.

What does it all mean?

A strategy is your organisation’s blueprint for achieving a sustainable competitive advantage. It defines where your business competes, how it wins, and why customers choose you. As Michael Porter once said: “Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different.”

On the other hand,  Planning outlines the actions, resources, and timelines needed to execute that strategy. It’s about turning vision into reality. But without a clear strategy, no amount of planning will deliver meaningful growth.

The Risks of planning without a strategy

Many business owners dive into planning without solidifying their strategy.

This often leads to activity without direction.

A study by the Economist Intelligence Unit found that 61% of respondents acknowledged their business often struggle to bridge the gap between strategy formulation and its day-to-day implementation.

Without strategy, strategic planning can result in:

Misallocated Resources: Time and money are spent on initiatives that don’t align with long-term goals.

Inconsistent Decision-Making: Teams lack a unified direction, leading to conflicting priorities.

Stalled Growth: Without a unique value proposition, businesses struggle to differentiate and grow sustainably.

Here are 3 simple tips to get started with strategy first, then planning:

1. Clarify your business strategy

Define what you want to achieve and how you’ll stand out in the market. Focus on your unique value, target audience, and long-term goals.

2. Set clear priorities
Identify the key areas that will drive your strategy forward. Decide where to focus your time and resources for the biggest impact.

3. Create an actionable plan
Once your strategy is set, break it down into specific steps. Outline who will do what and when to ensure smooth execution.

Starting with strategy ensures your planning is focused, effective, and aligned with your business goals.

To know more, contact us explore@oakviewconsulting.uk