How to Balance Quick Wins with Strategic Goals

We all want to have our cake and eat it, but this isn’t always possible. Competition is cutthroat and successes as rare as they are short-lived in the business world. While there are a plethora of quick wins to be had, you should also consider long-term goals. In today’s article, we look at how to balance your quick wins with your strategic goals. First, we should ask, what is a strategy? What does the term mean? And how do you align your small victories with your long-term objectives?

What is a Strategy?

Dense analysis is different from strategy, which must be conveyable to others. We know the best strategies provide direction, motivation, and guidance. This guidance should be directly linked to project and organizational goals, demonstrating what to do and how. It can be tricky to retrain your mind to work strategically, but it always pays off in the end. An excellent strategic framework is like an hour glass. The five stages that accompany you on your journey from theory to action are outlined below:

1. Theorizing. This encompasses your vision for the next three-to-five years. Shaping your strategy from the ground up will serve all your needs.
2. Winning Priorities. Small successes are fine and nice to have, but your attention should focus on your primary goals. Point your compass in that direction to effectively prioritize your efforts.
3. Breakthrough Goals/’Vital Few’ Goals. It’s important for you to know the difference between the two and how to serve them both.
4. Yearly Targets and Objectives. Again, while Six Sigma may afford you some quick wins in the interim, don’t lose sight of your annual targets and objectives.
5. Action. Here is where projects and activities take place, the doing phase. Following this model will teach you how to theorize and prioritize on your way towards deciding adequately. From then on all that’s left is action (the easy part!).

How to Balance Strategy with Quick Wins

Remember, in Six Sigma it’s better to improve everything by 10% than one process by 100%. As such, while you might find focusing your time and effort on one particular process to prove successful, it ultimately neglects other equally important process areas. Balancing quick wins with your wider aims isn’t as easy as it sounds, though. Your organization needs to use focus, balance, and stretch techniques to meet your goals.

• Focus requires you to have a clear vision of your organizational targets. Use analytical techniques to assess your goals, reflecting customer demand and other market drivers. This will give you a better idea of the picture of which you are a part.
• Balance. While short-term financial success can provide focus, it should not distract from long-term goals. Many companies end up with less than they promise in pursuit of business achievements that only momentarily satisfy. This is not a successful strategy, and you can gain growth in revenue, profitability and investment returns only through the contrary.
• Stretch is important for companies to understand as it allows us to make educated decisions when extending targets. While you may have had a string of smaller financial gains in quick succession, playing it safe isn’t always as profitable as it seems. Knowing when and how to reach beyond current plans can help you achieve more in the long-term.