Have you got the energy to succeed in FY24?

Blog Banner_Energy FY24
It’s June and the new financial year is once again upon us. This is the traditional time for rolling up last year’s unachieved ideas, initiatives and plans and trying again!
Strategy without execution is Hallucination” – Mike Roach CEO of CGI
At dovetail digital, we don’t like to focus on the negatives, but success requires hard work…
…and according to McKinsey’s, one of the world’s leading management consulting firms, approximately 70% of Strategic plans / digital transformations fail due to poor execution. Furthermore, even those that succeed only achieve about 60% of their strategic value.
According to Forbes the Top 20 reasons why strategic initiatives fail are:
  1. Unclear communication
  2. No or insufficient communication
  3. Lack of commitment
  4. Insufficient or inadequate resources
  5. Isolated and fragmented actions
  6. Ambiguous or conflicting goals
  7. No or unclear strategy
  8. No clear priorities
  9. Ambiguous responsibilities
  10. Lack of performance information
  11. Silo behaviour and sub-optimisation
  12. Wrong or ineffective culture
  13. Resistance to change
  14. Over-complexity
  15. Insufficient management capabilities
  16. Delay, plans are not met
  17. Budget is exceeded
  18. Lack of middle management support
  19. Strategy is not adapted to changes
  20. Poor leadership
There’s one we feel has been overlooked and it’s one of our own…
21. Lack the Energy to succeed
So, the question to ask yourself is “Have I got the energy to succeed in FY24?”
Hopefully, the answer is, Yes! But perhaps the better question to ask would be, “How am I going to make sure I’m not one of the 70% this year?”
What Do Businesses Need To Succeed?
Firstly, the giveaway was in the heading of this article, Energy! In our view, this is one of the most underestimated and crucial requirements for business.

On top of the ongoing struggle to handle daily crises and navigate the demands of the digital age, one significant source of exhaustion, and lack of energy, is digital fatigue itself.

It’s important to acknowledge that digital fatigue is real. While we all embrace the notion that the digital realm is meant to modernise and enhance our lives, incessant exposure to screens, social media, emails, and virtual interactions can also result in burnout. It’s not uncommon for you, businesses and individuals, to have a sense of being overwhelmed with diminished motivation and a constant feeling of being too connected and being inundated with too much information. And not always the right information! Although selecting a CRM, updating your website or socials or incorporating AI into your workflow may be important elements for optimising your business, the overwhelming influx of choices without clear guidance can be discouraging. This often leads businesses to procrastinate on important decisions necessary for their growth or success.

For businesses to thrive it is essential that they:

  • Embrace change but don’t overcommit.
  • Generate the energy they need from internal initiatives or external collaborations to accomplish their business goals.

Doing nothing is no longer an option! Businesses teetering on what action to take next or being distracted by this thing or that need to take stock and activate their journey. As the Chinese philosopher Lao Tzu once said; “The journey of a thousand miles begins with a single step”. But continue to find reasons not to lean into change and like many other businesses, you will see yourself falling further and further behind.


Once you have the energy the keys to success will be to:
  • Know your business and know your limitations ie really understand your market – segment, map the value chains and understand which areas are truly profitable and understand where your resource gaps lie
  • Be specific. Break strategy into a series of initiatives and be clear on who is responsible for delivery
  • Implement an actionable roadmap and have the expertise in implementation and execution to complete it. Businesses often have the skills to complete their day to operations but lack the transformation management skills to complete their digital and strategic initiatives
  • Manage your time, people and budget efficiently
  • Stay up to date – you need to keep on top of the digital revolution – keep an eye out for disruptors. Remember what worked yesterday may not work today!
  • Create and manage your marketing/market presence / online presence. How do you stand out in an increasingly saturated digital market? How do you engage prospects and customers by activating existing business and customer data?
  • Keep the customer satisfied
  • Be adaptable and open to change
  • Continuously evaluate and improve business strategies/processes/people
  • And most importantly – Know when to get help! You focus on the core business, the part that you are good at, and like. Access and utilise people who specialise in this stuff. External guidance and execution help get better value from experienced operators. It’s often the kick-start to creating the new energy you need to get things done.
Or for those of you that are more familiar with our website, we have distilled these factors down to our 5 guiding principles to success:

The last one, Getting it Done, is our “schtick” (our thing). We understand the struggles and have a thirst to guide businesses toward digital maturity and growth. Our range of digital services and technology solutions will energise you so you don’t have to avoid the unavoidable anymore.

By identifying and prioritising key initiatives, we will help transform your operations and build your digital maturity. Our aim is to alleviate you of the areas that are important to the success of your business but simply aren’t your core focus enabling you to focus on the bits you like and are good at – you know the bits you enjoy! 

Success is hard work! And to succeed you need energy.

dovetail digital provides the energy required to start and lead you on a new pathway to getting it done. Start with our Digital Maturity Assessment. It’s designed specifically to get you thinking about what you might not be doing but also what you could be doing.

We bring enterprise thinking to small to medium businesses. When ideas, people, processes, and technology come together, great things do happen.

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