Hi!
We will have a special meetup on Teams on Wednesday, October 2nd at noon called “Strategy 101”.
So, what are we going to going to talk about this week?
My strategy framework:
I know that you benefit from a framework for thinking about your strategy.
Want to know what it is and apply it…?
Here’s the framework:
- Have a vision. I call this, “What does success look like?”
- Know the target customer. We call this, “Who is the customer?”
- Why are folks picking you? You’ll call this a value proposition. I’ll call it, “Why you?”
- “What resources do we need?”
- “What actions will we take?”
This is the framework.
Do with it what you will.
Planning is not strategy:
Planning is navel-gazing.
Strategy is about action and focus.
I’ve met far too many folks that will always be in the middle of “strategic planning”.
It never seems to end.
You have to do strategy.
Strategy is elimination.
You have to stop doing things.
You have to not do things.
You have to choose what you are going to do, but you also have to not do other things.
Strategy is never set in stone.
Your strategy is a living, breathing thing.
You need the vision.
That should change rarely.
You also have tactics.
They may change often.
Strategy is about context.
The market you enter.
The customers you want to serve.
The products and services you sell.
Your context is different than everyone else’s.
This is important.
It matters.
If you don’t understand the context you are operating in, your strategy will suffer.
Anyway, this week is a short one because I’m deep in putting together a class called “Markets and Competition: Strategy for Modern Times” for an executive education program.
Hit reply and tell me what you want to know about strategy.
Dave
Do me one favor, share this week’s note with one person that is struggling with getting their strategy right.