A good strategy:
- Gives you power.
- Has clear strategic choices.
- Can be repeated.
The Big Idea: Your strategy should have reason to it.
Strategy’s ultimate idea: Why are some businesses successful and others are not?
My lens of looking at strategies revolves around 3 ideas:
- Does your strategy give you more power?
- Are there clear strategic choices?
- Is success repeatable? Or, did you get lucky?
Power: I learned about the “Power Framework” from Dr. Kamal Munir.
Dr. Munir’s framework says that a good strategy gives a business power at three levels:
- Over customers
- Over the competition
- Over suppliers
Clear Choices: Is there a through line for your strategy?
- Consistency of focus.
- Actions that line up with your focus.
Lucky or Good: Can you do it again?
Don’t discount luck. But if that’s your entire business model: better you than me.
Today’s Quote:
“Look for your choices, pick the best one, then go for it.” — Pat Riley, President of the Miami Heat