I enjoy your strategy tips, and I have a dilemma I thought you might help me with. I'm starting a venture and know how important it is to stay focused. At the same time, I'm told I should be flexible, able to seize opportunities as they come along. Can I have it both ways? If a great opportunity pulls me in another direction, am I undermining my original plan? Or might flexibility make me aware of a better direction for my business?

Dear N.D.:

Yes.

That is, yes you can be both flexible and focused at the same time. But you should be more flexible when the venture is new than when it's established. In the beginning, you're learning the business, your vision is fuzzy and your target indistinct. Since your plan is based on limited knowledge and understanding, it must be fairly flexible. But the more you learn, the more assured you can be. As time progresses you'll begin to see where you are, where you want to go, and how to get there.

There's much you can do to shorten this learning curve. Say you're opening a new retail outlet without first talking to customers in your target market (this is surprisingly common). Not knowing customer preferences, you'll have to be flexible about your merchandise selection. By interviewing potential customers you discover what products they like, what brands they buy, and what they look for in a retail store like you're opening. Then you'll have a focus for your buying and marketing efforts.

Perhaps, rather than flexibility, the real issue is uncertainty, doubt, or reluctance to commit to a vision. Some entrepreneurs practice "spaghetti strategy" -- "If we through enough at the wall something will stick." A hit-or-miss strategy that evolves through trial and error is very different from flexibility, which assumes that there's a vision and plan in place to begin with.

A focused strategy requires flexible tactics

Once you're committed to a clear vision and an informed strategy, you can afford to be flexible in your tactics. A strategic plan is a living document. Adjustments in short-term tactics should help you better realize the vision, not change it. When tempted to change your tactics, reaffirm your vision and ask if the tactic will help you achieve it. Don't let tactics define your vision or drive your strategy; they're the means, not the end.

Changing markets require adaptive strategies

Your vision or strategy may need to change over time. Customer preferences, competition, technology, or industry/markets changes can make a vision obsolete and a strategy unworkable. When this happens, you have to do your homework again and create a vision that will inspire the same level of commitment as your previous one.

Many established companies are too rigid, clinging to old strategies while new competitors take their customers -- in contrast to the too-pliant young ventures we discussed above.

The best course is to commit 100 percent to your current strategy, yet be willing to drop it instantly if and when conditions necessitate.