Future-Proofing Your Business: Real-Life Strategies to Prepare Your Business for Tomorrow, Today

Chapter 8. Strategy that Sticks

"I learned that just because you write your strategy down it does not make you any smarter, it does not make it real, nor does it mean it's a good 'strategy.' "

I can remember my very first business plan. I had put together a document to present to the bank in an attempt to raise $1.2 million to buy a regional radio station that was for sale. It was a big ask, really—particularly given the fact that I was only 26 years old. I'd raised about $500,000 from family and friends and needed the balance of funds from the bank. I read books, spoke to business mentors, bought all sorts of business tools, and borrowed business plans from anyone I could. Armed with this information, I proceeded to put together the greatest lot of total rubbish I have ever put on paper in my entire life.

And, to my amazement—it worked.

I still recall leaving the bank and thinking to myself, "I just might actually own a radio station by Monday ... and I have no idea what I am doing!" Over the few days that followed, I felt a mixture of excitement and total terror at the thought of what was looming before me.

As it turned out, we lost the deal at the 11th hour; another cash bidder stole it from under us. It was simply not to be. And I must say, looking back, I'm glad it turned out that way because I reckon it could have been a disaster. The experience did teach me something, however: Just because you write your strategy down, it does not make you any smarter, does not make it real, ...