In this episode of The Future of Teamwork podcast, Dane Groeneveld speaks with Business Growth Strategy Expert, Carl J. Cox, CEO of 40 Strategy. They delved deep into the challenges of executing strategic plans. Learn about the crucial role of leadership in driving change and the transformative power of shifting from goals to destinations.

One highlight from our conversation was the topic of accountability. We all know the scenario: a strategy offsite where great ideas are generated, only to find ourselves back in the same situation the following year. Carl shared the staggering statistic that out of the $160 billion spent annually on strategic planning consulting, only a mere 20% is actually executed. Astonishing, right?

For small firms, the execution rate drops even lower, with data showing percentages as low as 10%. In fact, according to Pricewaterhouse Coopers, it can be as abysmal as 2.5%! The question is, why does this happen?

In this episode of The Future of Teamwork, Carl explains it all comes down to more than just generating ideas on whiteboards. We need to take our ideas to the next level. Work with our teams to gain buy-in. Develop solid execution plans. Strategy is about navigating the journey from point A to point B. While it’s vital to focus on customers, supply chains, and employee retention, we can’t lose sight of the key actions required to drive business growth.

If you’re interested in gaining further insights into the world of strategic planning and leadership, I invite you to listen to the full episode. Trust me, you don’t want to miss this valuable conversation with Carl J. Cox.