Strategy has been defined as “shaping your future” or planning for long-term success. If we take these words to heart, a strategic mindset is essential for growing an untested startup into a successful, profitable company that can sustain you for years to come. For this reason, every entrepreneur must learn to develop a strategic mindset in regard to their company’s future.
As a business executive, Kye Giscombe has led multiple companies to lasting success. He has strategically built companies such as Cosmo Horizon and Contact Sports, Inc. from the ground up. Kye Giscombe advises, “Building a good business strategy starts with setting goals that are challenging, but not impossible to achieve. You should be both ambitious and realistic about what your company can achieve. Once you have a solid vision, you can begin making plans that will help you reach your goals within a specific time frame.”
Having concrete, achievable goals will form the framework for more detailed plans that you can formulate with your most trusted advisors. These goals will form an outline that frees you to think about the small steps you’ll have to take on a monthly and yearly basis. Details that affect your plans can include the wise use of resources, potential setbacks to anticipate, and partnerships that can help you take your business to the next level.
Kye Giscombe adds, “Although you may feel like you have your future entirely mapped out, you can’t predict everything. You may face some unexpected situations and challenges, so you’ll also have to be adaptable and willing to change aspects of your plan on the fly. Business is a learning experience, so always pay attention to what works for you and what doesn’t. Adapt your plans accordingly.”
What a healthy mix of early planning and shrewd adaptability, you can develop a strategic mindset that will help you not only in business but in all other aspects of your life.