Insights from Vistage Chair, John Nolan
In today’s rapidly evolving business environment, strategic planning is more critical than ever. With 2025 just around the corner, planning for the coming year is vital to the success of any business. To shed light on this, John Nolan, a seasoned expert and Chair at Vistage UAE, shares valuable insights into how businesses can navigate challenges, seize opportunities, and prepare for the year ahead. From the importance of clear strategies to the role of digital transformation, we explore key themes that leaders must prioritize for success in 2025.
Saudi Projects: Why is it critical for businesses to have a solid strategy as they plan for 2025?
John Nolan: We’re living in a time of exponential change, which brings both opportunities and challenges. Businesses need to define their goals for the year ahead and establish a roadmap to achieve them. Without this clarity, companies risk losing focus and spreading themselves too thin.
A strategy serves not only to satisfy shareholders but also to align employees, especially key decision-makers. Employees need to understand the company’s targets and roadmap to contribute effectively. I often say: What you measure, you can improve. Setting clear targets and tracking their execution ensures progress.
In regions like the UAE, where markets are buoyant, opportunities abound. However, companies can easily fall into the trap of trying to do too much. A clear, focused strategy helps businesses prioritize and maximize their success.
What you measure, you can improve
Saudi Projects: What do you see as the biggest strategic challenges businesses will face in 2025, and how can they overcome them?
John Nolan: One of the biggest challenges is the abundance of opportunities in a strong market. While this is positive, it also creates fierce competition, not just for customers but for talent. Many companies struggle to retain skilled employees while also searching for new talent to support their growth.
Inflation is another major challenge. Rising costs, particularly in real estate, are putting pressure on businesses. Employees facing higher rents often demand salary increases, further stretching company budgets. To navigate these challenges, businesses must retain key talent, control costs, and ensure their growth outpaces inflation.
Ultimately, the key lies in staying focused on core objectives and executing them effectively.
Flexibility starts with awareness and proactive planning
Saudi Projects: How does Vistage and your group approach strategic planning differently, and what benefits does it bring to your members?
John Nolan: At Vistage, we emphasize collaboration and shared learning. Members share their strategic planning processes, creating an environment where best practices and methodologies are exchanged. Some members bring advanced insights, while others provide innovative tools. This collaboration allows everyone to benefit from diverse perspectives.
For instance, we might dedicate a meeting to annual strategic planning or focus on solving a specific challenge. The practical feedback members receive is far more impactful than theoretical frameworks. Often, the solutions discussed are simplified, actionable, and easy to implement—ideal for busy leaders.
Additionally, members often take discussions offline for deeper one-on-one advice. This hands-on, practical approach ensures that strategies are realistic and tailored to individual business needs.
Saudi Projects: What key elements should businesses focus on when developing their strategy for the coming year?
John Nolan: Successful strategies start with reflection. Businesses need to review the past year, identifying what worked, what didn’t, and what they learned. This is followed by a market assessment, using tools like SWOT or PESTLE analyses to evaluate broader economic and sector-specific trends.
Once businesses have this context, they should define what success looks like for the coming year. Ask yourself: If we’re sitting here at the end of the year celebrating success, what does that look like? From there, map out a realistic and achievable plan that stretches the organization’s capabilities.
Saudi Projects: How can companies ensure their strategies remain flexible enough to adapt to unforeseen changes?
John Nolan: Flexibility starts with awareness. Conducting a SWOT or PESTLE analysis encourages businesses to consider risks and external factors that could impact operations. This is essentially a high-level risk assessment.
Identifying potential scenarios, such as political or economic shifts, allows companies to think proactively. While not everything can be anticipated, having contingency plans for major risks ensures businesses can react quickly and effectively.
The key is to develop a preparedness mindset, which enables organizations to stay agile and responsive when challenges arise.
AI is essential, but take a realistic approach
Saudi Projects: How important is it for businesses to incorporate digital transformation and technological innovation into their 2025 strategies?
John Nolan: It’s absolutely essential, but the approach needs to be realistic. Technology, particularly AI, has become a cornerstone of business. While larger organizations typically have the resources and expertise to stay ahead, SMEs often face challenges in adopting these innovations.
For SMEs, I recommend starting small and focusing on actionable steps. Take the time to research and plan while avoiding hasty decisions. AI and digital tools are evolving rapidly, and sometimes waiting allows businesses to leverage more mature and accessible solutions.
That said, all organizations must embrace digital transformation sooner rather than later. It’s not about if but when.
Saudi Projects: What advice would you give to leaders struggling to set actionable goals?
John Nolan: Start by setting strategic goals for the year, including financial targets and up to 10 other measurable objectives. These should be SMART goals (Specific, Measurable, Achievable, Relevant, and Time-bound). For example, if improving employee morale is a goal, conduct surveys at the start and end of the year to track progress.
Once annual goals are set, break them down into monthly and weekly targets. Regularly revisit and adjust them as needed. Leaders should make goal-setting a daily ritual, ensuring that progress remains on track and aligned with organizational objectives.
UAE Vision 2030 offers unparalleled growth opportunities
Saudi Projects: Looking ahead, what are the key opportunities for growth in the UAE?
John Nolan: The UAE’s Vision 2030 presents incredible opportunities. With plans to double the population by 2040, the demand for products and services will surge across sectors. Businesses maintaining their market share could see significant growth simply by aligning with this demographic shift.
Moreover, the UAE’s continued investment in infrastructure, technology, and innovation creates fertile ground for growth. Companies that align with national goals and leverage regional opportunities, particularly in Saudi Arabia, stand to benefit immensely.
Saudi Projects: How can business leaders benefit from joining Vistage?
John Nolan: Leadership can be isolating. At Vistage, we provide a confidential environment where leaders can share challenges, seek advice, and gain insights from peers. Members learn not only from their own experiences but also from the collective wisdom of others.
The open exchange of lessons learned, both successes and mistakes is invaluable. Members often avoid costly errors by learning from their peers’ past experiences. This collaborative environment helps leaders make better, faster decisions, driving growth and success.
This interview with John highlights the critical importance of strategic planning, adaptability, and collaboration as businesses prepare for 2025. By focusing on clear objectives, leveraging technology, and fostering a culture of shared learning, leaders can navigate challenges and seize opportunities in the dynamic UAE market.