Many times, long-term thinking is an action away from the real lives of entrepreneurs and leaders. They barely have time to operate the company, let alone to plan the future. It is even considered wild guessing by many entrepreneurs who prefer to quickly do experiments and learning.
Actually, Growth Strategy is a fantastic exercise of planning, execution and alignment. It is, systematically, setting the direction for the whole business, analyzing the ecosystem and the customers in search for more growth, understanding critical issues and obstacles and developing, with the team, alternatives to innovate and overcome obstacles. The Growth Strategy end-results (3-5 years view) are the beginning of a new Execution Cycle (1-year view) where all hypotheses (defined in the strategy) will be put to a market test and updated in practice (within the 1 year run cycle). Financial performance will show whether the execution worked out and whether business is thriving or failing. It is communicating and engaging the team with the right DNA and direction.