Strategy Is A Bet On The Future

Crafting a long-term strategy is making a bet on the future.

Some people look at their life and make the bet that when they reach retirement age the government, or their company pension plan, will take care of them. Some companies think that their market share or their competitive advantage will continue to grow at the same steady rate forever.

Your strategy is a plan for your actions designed to achieve an overarching goal. The strategy of your company is a long-term roadmap to success. Having a strategy doesn’t guarantee that you will get to where you are going. It is an estimate of what it might take to get to where you want to go in the future.

Make your bet wisely. We all might bet different amounts of effort, time, commitment to others, etc. We all might have an individualized impact that we want to make on the world around us. But you have to put something in to play the game. It’s fine (and I would argue: better) if you go all-in on your strategy. No matter what you plan for, know that having a strategy helps increase your chances of success, but it makes no guarantees.

A strategy is necessary simply because it is a bet on what the new future can be.