Why Do You Need a Strategy?

I’ve been going through my notes from a strategy class I took to see what holds weight in my thinking now or how to build off of some of the concepts I learned.

I’ve typed out a few reasons I often give to people why they need a strategy.

Am I missing something that is important to you?

1. You need a definition of success to help you know if the actions you are taking are helping you, harming you, or wasting your time.
2. Helps you make decisions.
3. Without a strategy, you can’t know whether your success is luck or can be repeated.
4. You need a strategy because the concept of VUCA is BS. Business and the economy has always been VUCA. You need a plan to deal with that.
5. Without a strategy, you can’t use your resources effectively.
6. Without a strategy, you probably can’t deliver sustainable success.
7. Without a strategy, you’ll likely miss opportunities.
8. Without a strategy, you won’t really be able to understand why or what your competitive advantage is.