How to tell a strategy from a ferret

Everybody talks strategy these days. But it's easy for people to get confused. Just because you've decided to do something doesn't mean you have a strategy.

A strategy is the thought BEHIND the action. If your strategy is right, there can be many actions you'll take that will work. If the strategy is off-base, you'll be flailing around no matter what you do. The closer your thinking gets to core essentials, the more interior it gets, the sounder your strategy.

So how do you ferret out sound strategies?

The most comprehensive approach is the strategic plan.

The Plan is the plan

A strategic plan is like a vision ombudsman, offering a persistent tap on the shoulder and a loud "Ahem ..." when our eyes drift beyond the goals in front of us. As such, it's much more than words on paper. It's a living, breathing entity that evolves and is shaped by its surroundings. A strategic plan creates business-building ideas and helps organizations forge their futures. With measurable goals and benchmarks, it ensures against getting lost in activities.

In the 1970s, strategic planning for businesses came into vogue, using military science as the model. Strategic thinking has shaped the work we have done and will do with our clients; it tells us what we need to do, not what we want to do.

Although each planning process is tailored to specific needs and can have many potential elements, the following are included in most plans:

Environmental analysis includes gathering the viewpoints of key management, interviewing prospects and clients and researching and analyzing the marketplace. SWOT analysis identifies strengths, weaknesses, opportunities and threats.

Research is an intrinsic part of the strategic planning process.

Mission goal and development starts as a dialog with key management and turns into a vision that can be articulated with one voice. A wealth of valuable information is uncovered during this process, including the company's core ideology and envisioned future. An article in the October, 1966 issue of Harvard Business Review by James Collins and Jerry Porras defines core values as intrinsic, unchangeable values a company already has, not ones they wish they had. A core purpose is the company's ongoing reason for being. In addition to its core ideology, the strategic planning session will reveal a company's specific desires for an envisioned future, in which long-term goals are carved out and a vivid description of what the company will "look like" is created.

Mission goal strategies and activities clearly outline the behaviors that must take place in order to achieve mission goals. Action plans, budget summaries and time lines are all clearly delineated. By assigning specific tasks to goals, you ensure every single marketing effort brings us one step closer to the envisioned future.

Positioning exists in the minds of consumers. A position as the first thing that crosses a person's mind upon hearing a firm's name. The criteria for an ideal position are: being clear, unique and defensible.

Branding and brand planning strengthens the bond between company and customer. People buy products, they trust brands. Therefore, the essence of building a brand is standing for something, having a clear identity and having a personality.

A Sound strategy is absolutely central to successful marketing. It reminds us why we're working, pulls us back if we stray and, most importantly, propels us forward along the pathway to the buyer.