A lack of patience was one of my shortcomings when in salaried employment. Now, as CEO and business owner, that impatience for results is a prerequisite of the job. Nevertheless, infinite patience and utter impatience both have implications for long-term strategy. Also, they undermine corporate performance.

Patience is a virtue. And impatience gets things done. So how do you find the middle ground? It helps if you can recognise when a long-term strategy has become a means of letting yourself off the hook.

Ask these 3 questions to know if your long-term strategy will succeed…

Why do I need a long-term strategy?

Frequently revisit your reasons ‘why’. If they have changed that will have implications for what you must do to achieve them.

Also, you may find that ‘what’ you want to accomplish has changed. Ask why this approach seemed like the right thing to do at the time. And don’t be afraid to mix up your means of delivery. Simply think of each day as an opportunity to check you’re on track; and still moving in the right direction.

Where does this long-term strategy sit on my list of priorities?

The fact that it’s a ‘long-term’ plan suggests you’re not going to implement it overnight. Nevertheless, you need to know that it’s moving steadily upwards on your list of priorities. And if it’s important enough you’ll be working on related activities on an increasingly frequent basis.

If you find that you’ve stopped working towards your stated outcome then park it for the time being; or discard it altogether.

How strongly do you believe in this long-term strategy?  

To deliver on your strategic aims you must be fully engaged with the project and totally believe in the impact that your long-term strategy can make to your stakeholders.

Also, consider where your strengths lie. Our belief can waiver when we don’t have all the necessary skills to execute our plans alone. That’s a good thing by the way! It’s the reason we employ people with a skill set to complement our own.

Inevitably there are times when we need to exercise self-restraint. And at other times it’s prudent to push ahead. The real skill lies in recognising which tactic to employ in the here and now; and how that impacts on our ultimate goal.