Ultimately success is defined by how good your Strategy is 🚀
After years of consulting, working with big enterprises, and appearing on podcasts, I have discovered that success is ultimately defined by the Strategy you approach 🎳
Strategy has been viewed and taught in the business environment as an analytical concept developed only by planning, business, data, and marketing analyses 🔍.
Let me tell you something strategy is not a plan is a series of choices. Once you develop a strategy thoroughly, you will understand that most of the time, things go differently than planned. Ultimately pivoting and redesigning your approach is necessary to reach the set goals 🔀.
Roger Martin is a strategy genius being a consultant for P&G, Lego, Ford, and more. And he is the mentor we all need to develop strategies.
Here are some things I have learned from his book A New Way To Think :
🎯 A strategy is not a plan: The term "Strategic Planning " is generally misunderstood in the business concept. Unfortunately, Strategy and Planning are both different concepts. "Strategic planning" is a set of goals and actions a company wants to reach. However, these are just goals that have no strategy behind them.
🎯 A Strategy has a theory: A strategy has to have a theory and antecedents. It must be internally and externally coherent a doable. You must be able to create a playbook and execute it because you have the resources and the market to achieve it.
🎯 You can not control your Strategy: Plans are controllable because it involves resource allocation and cost analysis. Strategy, on the other hand, is all about obtaining a competitive advantage. You can not control a strategy because you're playing against variables.
🎯 Escape the "planning trap": The planning trap is staying in your comfort zone. Risk is involved because you can not guarantee success. And this is why most people hire me as a consultant. Most managers think they cant execute something that is not proven in advance. Because there is always a big pressure on performance and results, that's when consulting comes into play, as you hire people with experience in risk, success, and failure.
🎯 Strategy is about the big picture: Think of great leaders who risked and saw the big picture because they had the theory and the belief that they knew the market and the product potential that would lead to a long-term competitive advantage.
🎯 Keep it short: Don't overcomplicate your Strategy. A successful strategy can be explained in one single page.
Lastly ......
💥 A successful strategy should answer the following: What market are we choosing to play? How will we win? What are the resources we need? And what are the internal and external players? 💥
What are your strategy tips? 🚀
#marketing #strategy #strategydevelopment