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Latest Blog »
Loss of Nerve March 29, 2015
One of the greatest tragedies that I’ve observed among business people is a loss of nerve. Instead of coming up to the plate and giving it their best shot, they lose their nerve. The reasons why people lose their nerve can be mind boggling. And it’s not because they don’t have a strategic plan. Most business people have invested time and money to create a strategy. Where they are most likely to fail is in the lack of implementation.
Failure of implementation can be due to any number of reasons: lack of peer support, lack of team cohesion, delay in producing deliverables, bad timing, bad hiring, duplication of efforts by more than one person in the organization, lack of money. Of these excuses, the single primary reason for the failure of a strategic plan is simply lack of performance.
We have an epidemic of ambitious plans attached to people who believe in magical thinking. Somehow they behave as if just having a plan is enough to succeed. The plan will take on a life of its own like a robot and implement itself. Maybe they didn’t like the plan or they thought it was too much work to execute it. They don’t agree with General George S. Patton who said, “A good plan violently executed now is better than a perfect plan executed next week.”
In business, a strategic plan is not created to be your friend. It’s been created to make you work harder and smarter. It’s not always fun and it doesn’t get implemented by magical thinking. A strategic plan is created to be implemented, whether you like it or not, or whether you want to or not. It’s called discipline. You do it. You get into the schedule of implementing the plan well enough to know where the tactics need to be tweaked and modified. You implement a plan long enough until you begin to see terrific new opportunities that were unforeseen when the plan was first created.
What happens when you do not implement your strategic plan? Nothing. I could threaten that you’ll go out of business! But it would be untrue. Having a loss of nerve doesn’t always mean people go out of business. Often, you are relegated to being sub-par or mediocre. You scrape by and you do eke out a living. Nothing begets nothing. The business never takes off. You pass up attractive entrepreneurial activities because you weren’t in the game.
To flourish and prosper, you must aggressively implement a strong strategic plan. Successful business people are powerfully self-disciplined individuals who master the regimen of delaying gratification. You are able to sacrifice, live with a high degree of risk, and persevere to overcome obstacles. Most important of all, you are able to implement a plan. A plan that is executed somewhat imperfectly is better than doing nothing at all. -Patricia Vaccarino