You need an effective strategy to launch a new idea in your company. But once you have that strategy, where do you go from there? How you execute your strategy is even more important than the strategy itself; however, the execution phase is where most businesses fail. Of course, failure is always a risk when trying to innovate, but is there a way to minimize that risk? I think there are some common mistakes you can avoid when executing your own strategy.

Today, I share eight tips you can implement to prevent failure and execute successfully on your strategy. I discuss metrics to pay attention to—like OKRs and KPIs—and the internal materials every company needs to have to clarify its message on innovation. I identify the people in your company that need to be included in the execution of your strategy and what they need to know. I also offer actionable insights about identifying risks and changing your mindset about innovation.

“A likelihood of success allows you to look at a strategy in a different lens and helps you balance strategies against each other.” - Paul Heller

This week on Innovation Talks:

●     Why do so many companies fail to execute their strategy properly

●     How to define the right OKRs

●     What metrics do you need to measure your progress

●     What should you include in your elevator message

●     How to identify the key players in executing your strategy and what they need to know

●     Identifying your review processes

●     The importance of an action plan

●     How to discern risks in your strategy

●     Why you need to use scorecards

●     How to tie initiatives and projects to your strategy

●     Why a portfolio approach gives you an advantage

Resources Mentioned:

●     Blog Post: What are OKRs, and how do they work?

●  Connect with Paul Heller on LinkedIn

This Podcast is brought to you by Sopheon

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