I’ve been working through a strategy course the last week or so and I’ve been putting together analysis and frameworks from around the world and different industries.
To codify some of my learning, I’m going to bullet point 10 quick ideas on post-pandemic strategy.
- At the end, strategy is about why your company succeeds or fails.
- Most strategies are built off of the luck of one success.
- 80% or more of strategy is BS, so you need to push past the fluff to create a plan for achieving success.
- A good strategy covers 4 Cs: choice, clarity, commitment, congruence.
- Creating good strategic frameworks can help you successfully diagnose a challenging situation.
- Especially now, strategy is about cutting down the number of choices you need to make.
- Coming through the pandemic, analyzing your market is more important than ever because the competition may have changed, your ability to deliver value is likely different, and what your customers perceive is definitely different.
- Price setting now is essential to success. I’m already seeing brands discount and they haven’t been back in business but for a few days.
- Another key idea to keep in mind is the need to always be aware of trouble on the horizon.
- Heading out of the pandemic, there will be opportunities…but who will grab them?