Have Goals and a Plan for 2024? Great! But What's Your STRATEGY for the New Year?

Goal-setting and planning without a strategy is like chicken soup without the chicken. You may favor the flavor but you're missing the meat.

Dec 22, 2023

Everybody loves to plan and goals are exciting to set for a new year. New Year’s resolutions! Updating the business plan! Creating a new pitch deck!

But if you don’t include a strategy with your goals and planning, you may be setting yourself up for failure.

For example, my Q4 plan in 2023 was to post every day on popular social media platforms for 100 days with the goal of getting more followers. I really didn’t have a strategy - just a plan of action and being hopeful for a positive outcome. So far the results have been disappointing.

In contrast, for 2024, my Q1 plan is to research the data in my niche, study current trends, and post with intent on target platforms with the goal of hitting specific milestones. My strategy is to implement a set of sequential activities that are trackable and aligned with my purpose so that my business is positioned to be the world leader in strategic networking.

See the difference?

Plans and goal-setting are 100% under your control and often “wishful thinking”.

Strategy? Not so much.

The simplest definition of strategy is the execution of a plan to create value. Strategy is what you do, not what you say or promise.

A key component of strategy is making trade-offs to better compete which involves performing different activities from competitors or performing similar activities in different ways. Strategy is not only choosing what to do but also what not to do.

A good strategy provides a clear roadmap, consisting of a set of guiding principles or rules, that defines the actions people in the business should take to be successful.

One must keep in mind that goals, plans, and strategies are very different.

As a simple example, I’ll use the case of a business owner I know:

Goal - To double the value of their company within two years so they can sell it

Plan - To increase sales 50%, reduce costs 15%, and successfully launch 3 new products.

Strategy - To become the top IT supplier in the area by hiring two new sales people, negotiating better costs with the suppliers, and collect weekly surveys from customers to get feedback on their products and service.

Strategic Networking

My niche happens to be strategic networking. It’s what I love. I have a passion to see it grow and help professionals all over the world by sharing new strategies and exciting innovations in networking.

But anyone can have a strategic niche or market.

You have a strategy that integrates online tools and implements new methods for accounting functions and finance? Congratulations, you’re a strategic accountant!

You have a strategy that streamlines the insurance process and reduces the cost of premiums? Great, you’ll help thousands of clients as a strategic insurance consultant!

You’ve discovered a method that saves time and expenses of frustrating plumbing projects? Cool, you’re a trailblazer in strategic plumbing!

Without strategy or innovation, many professionals become robots in their profession. The world needs robots, but wouldn’t you rather be a strategic innovator?

Be strategic in what you do.

The results will amaze you.

I’ll be taking next week off for the holidays, but will be back the following week with another amazing issue to kick off the New Year!

Upcoming Events

Interested in growing your business network and sharing knowledge?

Check out our upcoming events:

Local Business Networking Meetings: https://www.tipclub.co/events
Community Networking Event: https://tipclub-jan-10-2024.eventbrite.com
Government Networking Event: https://gov-jan-2024.eventbrite.com
LinkedIn Workshop: https://LinkedIn-jan-2024.eventbrite.com

Week 13 of “The Experiment”

My 100 Days of Social Networking Experiment is coming to an end. It’s had unique and valuable experiences I could have never predicted or foreseen. I am excited to share my successes and failures in the New Year!

Here are some of the Networking Tips I posted this past week on social media: