Hi-
I’ve been mapping out my strategy thinking lately.
And, I wanted to do a quick hitter this morning to share some quick take-homes.
So 50 ways to think about strategy or improve your strategy.
- Think of strategy using two eyes: the analyst and the architect. One is rooted in frameworks and the past. The other is rooted in creativity and the possible.
- Look for reasons why things have worked.
- Strategy is about how to make luck less of a requirement for success.
- Frameworks are great for analysis, not always for action.
- Diagnosis/Strategy/Tactics
- Choice/Focus/Action
- Remember the Differentiation Gap. The distance between where you are in your mind versus where you are in the market’s mind determines if you are a commodity or not.
- Pricing Power can improve or detract from your strategy.
- Emergent Strategy and the ideas driving it don’t give you an excuse for not planning.
- The opposite of a good idea can be a good idea.
- Think about the things that aren’t going to change.
- Think about the things that can be changed.
- “What would have to be true?”
- Understand your customers.
- Good strategist aren’t afraid to abandon products and services.
- Good strategy is good brand strategy.
- Strategy isn’t a business plan.
- Strategy isn’t data analysis.
- Strategy isn’t a mission or vision statement.
- Focus on making your strategy clear, compelling, and simple.
- Good strategy isn’t just a top down exercise. Great strategy ideas can come from anywhere.
- Strategy requires adaptation.
- Strategy is about creating value.
- For money to be paid, value must be created.
- What are your buyer’s motivations?
- What do they value?
- Do you know the difference between cause and effect?
- What is the downside? Is it acceptable?
- Strategy requires critical thinking.
- The only certainty is uncertainty.
- Your strategy must balance the past, present, and future.
- Are you thinking through the perennial issues?
- Profitability is linked to scarcity.
- Why is your product or service scarce? Number of items? Amount of time? What?
- Are you picking the right customers?
- Does your strategy reflect your values?
- Do you have the right information to make strategic decisions?
- What is your plan for planned issues?
- How will you deal with emerging issues?
- Strategy is about winning.
- Strategy is about choice.
- Strategy is about change.
- Strategy is about competition.
- Strategy is about value
- Strategy is about focus.
- Strategy is about marketing
- Strategy is about branding.
- Strategy is about reality.
- Strategy is about action.
- Strategy is about being successful.