Strategy is the reason for what follows. In other words, it answers the 'why' question. Plans, tactics, and other items are tools that help deal with the how, when, where, etc.
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In my experience, small business owners can benefit from understanding that tools should not be allowed to define outcomes. Some do not fully appreciate this, perhaps because they spend so much time running their businesses.

I recommend small businesses determine a "why" (strategy) before they consider any "hows" (tactics). Only then should they review available resources (tools) and choose those that will best ensure their desired outcome. Many owners reverse this process and the success of their businesses is compromised as a result.
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I've worked with several startups and young companies and assisted others that have found themselves in similar circumstances. I think it's wise to simplify the decision. In other words:

Do you want to be the majority owner of a stable and profitable small business...

...or one of many minority owners of a rapidly growing business that will be acquired or sold in the future?

If you choose the later, you'll be working for a reasonable pay check until the company is acquired or sold. If you want to make bigger paychecks sooner rather wait for a big payoff all at once, get stable and profitable ASAP and accrue your big bucks along the way.
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