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Hey,

Today, I want to talk about an often-overlooked topic:

The difference between having a plan and having a strategy.

In my years of consulting, investing, and building companies, I’ve seen firsthand how businesses confuse these two concepts and the consequences can be costly.

Many organizations and even individuals believe they have a strategy when, in reality, they are operating based on plans.

But what is the real difference?

A plan is a process, but a strategy is logic.

Without strategy, even the best-laid plans become nothing more than busywork, disconnected from true value creation.

Let’s break down this critical distinction and why it matters (based on insights from my friend and great strategist Jeroen Kraaijenbrink):

1) Strategy - The Logic Behind Action.

Think of strategy as the why behind your goals. It provides a holistic view of how your actions create and capture value. A well-constructed strategy connects the dots between:

Market: Who are your customers and competitors?

Means: What resources, skills, or assets do you have at your disposal?

Money: How does this strategy generate profit or value?

Momentum: How do you leverage timing and trends to your advantage?

Meaning: What is the greater purpose behind what you are doing?

Magic: What makes your product or service unique?

These six elements serve as the building blocks of a good strategy. When aligned, they create a coherent framework that guides high-level decision-making.

A strategy doesn’t micromanage tasks. Instead, it lays the foundation that shapes what goals to pursue and why they matter.

2) Planning - Executing the Steps

Planning, on the other hand, is about turning goals into action. It’s a process of organization that identifies specific steps, timelines, and responsibilities to achieve a given objective.

For example, planning ensures that:

• Department A starts the project and hands it over to Department B.

• Specific activities are assigned, tracked, and completed.

• Milestones are reached within defined timelines.

While essential, plans focus on process rather than logic.

A plan can tell you how to get from point A to point B - but it won’t tell you why going to point B is the right move in the first place.

Why Organizations Fail Without a Strategy?

It’s tempting to focus on action - after all, making lists, setting deadlines, and assigning tasks feels productive.

But when plans are not tied to a strategy, they lead to misaligned goals, wasted resources, and missed opportunities.

A clear strategy answers essential questions like:

 • Are we solving the right problem?

 • How does this project align with our long-term goals?

 • What makes our approach unique compared to competitors?

For instance, a company might create an impressive marketing plan that rolls out over 12 months.

But if this plan doesn’t reflect the company’s strategy - like focusing on the wrong customer segment - the effort will yield little to no value.

This is why strategy must come first. Strategy ensures your plans reflect a deeper purpose, enabling you to pursue the right goals with the right logic.

Remember and Take Action

Sharing a useful infographic that will help you understand the difference:

Further Reading

To gain deeper insights into strategy, consider these two additional resources:

Here’s what I encourage you to do today:

Review your current projects or goals.

Ask yourself:

Do you have a strategy guiding your actions, or are you simply working from a plan?

If you’re executing without a clear strategy, take a step back and redefine the logic behind your efforts.

A strategy-first approach will maximize your impact by ensuring that every action aligns with your long-term purpose.

To making more strategic decisions!

Igor

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