In the world of business, it's easy to get caught up in the planning process. After all, plans are a crucial part of any successful organization, outlining the specific activities that a company will undertake in order to reach its goals. However, it's important to remember that a plan is not a strategy.

While plans are specific and actionable, strategy is about making integrated choices that position you to succeed in multiple circumstances. These choices can be fundamental, such as where you operate your business or how you differentiate yourself from your competitors. They require a strategic theory, meaning that your strategy is actionable and coherent.

Coherence is key when it comes to strategy. Every aspect of your business should align with and support your overall strategy. For example, if you decide to implement a new employee training program, it should align with your brand standards and be feasible to implement in the field. If it doesn't fit within the goals of your business, it's essentially white noise.

Plans, on the other hand, are about capital expenditure – the specific actions you take to achieve your goals. For example, "We are going to hire a dedicated curriculum team to implement our new training program" or "We are going to invest in improving the standards across our brands." These are actions that you control. Strategy, on the other hand, involves something you hope to achieve – such as customers choosing your brand over a competitor – which you don't control.

While you're busy planning, chances are at least one competitor is figuring out how to win. A great example of this is Google's simple and effective strategy of helping people find what they need as fast as possible, while Yahoo was focused on planning new services to bring to market.

So how do you escape the planning trap and focus on strategy? First, accept the strategic mindset. Comfort is the antithesis of success, and strategy isn't always going to be easy or fun. But remember that you can always get back to where you were, so don't be afraid to take measured risks.

Second, follow your strategy to its logical conclusion before execution. While a strategy should be flexible, it's important to stay focused and not get sidetracked.

Finally, keep it simple. Complex strategies tend to lose sight of the vision. Aim to create a strategy that can be summarized in a single page, or even just a paragraph that answers three key questions:

What do we want to do? Why are we doing this? How are we going to do it?

In the world of business, having a clear and coherent strategy is crucial to success. Don't get caught up in the planning trap – focus on making integrated choices that position you to succeed in multiple circumstances, and follow your strategy to its logical conclusion.