Compass Way Strategy

Five reasons why lack of strategy will ruin you

Ships are not meant to stay in ports, but also they are not meant to be used without a compass. Lack of action is harmful, but lack of a strategy what to do, is even more harmful.

When you don’t have a destination, then every wind is favorable.

Reason #1

Imagine that you have a yacht, you cruise on an open ocean and wonder what’s next. If you don’t have a destination set, then every wind is favorable. But life is not a yacht and you are not on a cruise. In life you need to know where you are going and why. Otherwise, it doesn’t make any sense.

Reason #2

Strategy has few requirements, mostly – few targets and a checklist. Targets let you check if you’ve done what you had to do, and checklist makes it even easier to control. Imagine:, how could you evaluate your effects if you don’t have any criteria?

Personal life is not only about carpe diem and living a day after another. I bet, you don’t want to spend your life being driven by accidents and have no stories to tell when you are old.

Business strategy is not a recommendation. It’s a must.

Reason #3

There is no long term business without a strategy and a plan how to do it. It’s impossible to keep in one piece an organization of people, without any idea how to do it. Even your local store has some sort of strategy. Even if the owner doesn’t realize it.

Reason #4

If you don’t have a plan, then how employees can find out what they are doing? Base of every big corporation and a successful company is mission, vision and a strategy. While vision and mission is usually claptrap, strategy is something what really defines the direction of the company. They can’t be successful, if they don’t know where are they going.

There exists a tribe of few businessman who are doing business, but they don’t know anything about business. When they fail, they try to to teach others how to do business, while they failed by themselves.

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Wealth is not acquired by collecting money.

Reason #5

Get reason #1, mix it with #3, and add a little bit of the second one: no matter how brutal it sounds, you won’t be rich only by collecting money in your pocket. It’s not a plan. Wealth has to stable, secure and held in different assets, otherwise it’s only accidental money on a account. Building your own wealth without any plan – or strategy – will leave you with accidentally spent money, and strange assets around. You can’t name it planned, nor stable.

Very popular trend among our society is to do only what is required from you, without care about the details. Next level of this, is to make your work basing only on instinct and guessing. Business owners don’t know anything about marketing, but they still make advertising campaigns. Managers don’t know how to hire people – but they still do it. Workers do their work but don’t know exactly why. They all are going somewhere but none of them knows where. They lack a strategy.