Table of Contents
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A Strategy is Not a Plan
A strategy is not a plan; it defines how you’ll win in the market, with focus, differentiation, and the ability to pivot. Learn how to create a winning strategy.
Strategy versus Planning
Strategy is different from plans. Plans are about what needs to get done, but strategy is about how we’ll win in the market. Plans focus on what we do, while strategy is all about what the customer needs and how we’ll stand out to win.
Strategy’s Key Role
Strategy isn’t just about what we do, it’s also about what we won’t do. It helps us focus on the essential things and make choices that put us ahead in the market.
Why Strategy Matters
Having a clear strategy stops us from wasting time on things that won’t help us win. It aligns everyone, helps us adapt quickly, and keeps us focused on winning and standing out.
Components of a Strategy
A good strategy includes what winning means to us, where we’ll compete, what the market’s truths are, how we’ll be different, the capabilities we need, and the ways to measure success.
Mistakes in Strategy
Some common mistakes in strategy include playing it too safe, trying to please everyone, and overestimating our own solution or underestimating our competition.
In the upcoming modules, we’ll craft a clear strategy statement. This will help tighten our approach, offering clarity and direction, ultimately bringing simplicity to what we’re doing.
Following strategy, we’ll dive into understanding offers: what they are, why they matter, and how they complement our strategy. And remember, a great strategy with efficient execution leads to faster victories.