Thinking about the previous post and point number one, Strategy, I feel as though it deserves some expanding.
How does one ‘do’ strategy. How do you separate strategy from tactics?
I’ll tackle the last first. I think of strategy being the overarching method of my business. Think of it this way; Strategy makes tactics work better. Because they have a framework and reference to sit it. Strategy can sit at various levels of an organisation and so I think this is where the confusion lies.
Essentially Strategy is the why are we here, the what we are going to do to add value to the market.
Tactics are the levers we pull, the newsletters we send out the blog posts we write. That sort of thing.
So how does one do strategy? Simply, have an inspiring long-term vision of the future of your business and continue to make and refine plans to bring that about. Like the picture above, chess is a good analogy, because strategy asks us to think ahead. To look into the future, based on what we know about today and then assume that everything will change.
If you are hammering your head against the wall and nothing is working. It doesn’t mean you are stupid. It means you have the wrong strategy. Like people who hold onto stocks that aren’t performing and selling the good ones, abandoning a poor strategy is actually hard to do.
And that is precisely why it is a good idea. Because the competition is scared witless also.
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Daniel Lock
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