Starting a small business is often fuelled by a powerful sense of ambition.

Entrepreneurs are driven by the desire to bring their ideas to life, to make an impact, and to build something meaningful. They create organisations with a clear sense of “Why?” However, turning ambition into action requires more than passion and enthusiasm. It demands a solid strategic foundation — a foundation that can transform vision into sustainable success.

In our latest #GrowMySME sessions, strategy consultant for East Harbour Associates, Marcus Jones shared why (and how) passion can be paired with practicality for lasting business success.

There is nothing like a dream to create the future – Victor Hugo

The biggest mistake when setting out to create a strategy is not starting at the beginning.  Try going on a car journey without knowing what your destination is… firstly it’s unlikely you’ll ever get there, and secondly how will you even know if you do?!  More likely you’ll simply drive around and around until eventually you get bored or run out of fuel.  And it’s the same with organisational strategy – don’t try to plan the route until you know the destination.  It is such an important step it can’t be overstated.  We tend to call this your Vision, Mission and sometimes also your Values.  This is where you start.

Questions you may wish to ask yourself when defining these elements of your strategic framework might include:

  • What is the ideal desired future for the organisation?
  • How will the world be different as a result of our organisation?
  • What are the primary activities we wish to engage in?
  • Who are our key stakeholders/clients, and what value do we wish to provide them?
  • What are the behavioural guidelines that will guide the way we achieve our vision and mission?
  • How do we want our stakeholders to see us?

Another mistake organisations make once they do know their destination is simply jumping straight in and “doing the work”.  The problem here is that your workers may all have a different idea of the best way to get to the final destination, and all head off in different directions.  At best this can be inefficient – at worst it can be disruptive and disengaging.

Clarity over the way you want to move towards your vision is vital to ensure your team buys into what constitutes success, and how you’re going to get there.

And it’s not just a one-off activity.  In today’s fast-paced business environment, the ability to adapt quickly to change is essential. Whether it’s shifts in customer behaviour, new technology, or economic challenges, businesses must stay flexible. Regularly evaluating your strategies and cultivating a willingness to pivot or flex when necessary are critical for the ongoing success of any organisation.  This agility allows businesses to innovate, meet emerging customer needs, and stay ahead of the competition. A mindset that embraces change and continuous improvement turns ambition into action in a sustainable way.

So it’s really quite simple – in organisational strategy as with most things in life, decide where you are going, plan your best route to get there, and then decide what activity needs to take place for you to achieve it, often with an eye on cost effectiveness and efficiency.  Communicate throughout, and check back often to ensure you are still on course.  Ask yourself:

  • Do we understand where we are trying to go?
  • Do we understand where we are now?
  • What are our internal capabilities (resources, skills, finances)?
  • What are our external opportunities or threats?
  • All things considered, what are the most purposeful things that will get us from “here” to “there” (prioritise)?
  • How will we measure success (how will we know we’ve arrived)?

Let’s take a really simple example from our everyday lives.

I decide I want to live a long, healthy, and active life.  To do this my strategy will be to improve my diet, exercise regularly, and reduce stress.  And so the activity I will undertake will be to eat more fruit and vegetables and cut back on sugary snacks, go for a 30-minute walk every morning and do strength training twice a week, and practice meditation for 10 minutes before bed and take breaks during work.  But then after a couple of months I develop pain in my knees.  Do I give up on my vision?  No, I swap out my daily walk for swimming 3 times a week – same end goal, but different method of achieving it.

In summary, ambition is the spark that ignites the entrepreneurial journey, but it’s the strategic foundations that sustain success.

By combining a clear vision, a credible plan to achieve it, and adaptability, small business owners can move from the excitement of ambition to the reality of sustainable action. The key is to be both passionate and practical to build a business that not only survives, but thrives.

To access the slides from the full presentation, click Chamber Presentation October 2024

Or learn more about Marcus and the work of East Harbour Associates,  here.