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I was asked to speak to a group of new college graduates and to share a few things that I wish I’d known earlier in my business career. What would have helped me to avoid major mistakes or to do a better job earlier on? This is part of a series of 4 blogs in which I share the four things I wish I’d known.

The seventh and final pitfall is not communicating the strategy effectively.

The sixth pitfall is in not executing the strategic initiatives effectively.

The fifth pitfall is not integrating the strategy into how you do business. 

The fourth pitfall is not prioritizing—biting off more than you can chew!

The third pitfall is developing an “executable” strategic plan.

The second pitfall is people not buying in to the strategy as it is developed.

The first pitfall has to do with not gaining Senior Leadership support before you begin the effort. 

If your organization wants to avoid a similar failure, it is critical that you periodically evaluate the strategic environment that you work in and make sure that your strategy is not based on similarly invalid assumptions.