As CEO, you own the strategy. But don’t forget to build that strategy into an executable plan—the eleventh of my fifteen CEO best practices.
Do you know where your company should be in five years? Probably, or at least you have a general idea. The next step is figuring out how to break down that long-term strategy into what your employees should focus on today.
This is one of the biggest challenges CEOs face. As leading venture capitalist Arthur Rock said in Harvard Business Review back in 1987, “strategy is easy, execution is hard.” It’s just as true today as it was back then. And if you set a high-level strategy but don’t create the roadmap for how to get there, it will be extremely difficult get started in the right direction, much less actually arrive at your desired destination.