Category: Strategy
(42 von 100)
Why: We want to convince you about the importance of a sustainable strategy because of disruptive technological and social development.
Did you know a concept of strategy has its origin in the military since 500 BC?
In a flash, here is how you strategize your firm to live longer than your opponents!
Table of Contents
In Short
Without a strategy, your success will not be sustained. The same trick, tactic, the technological advantage will fade.
“Strategy without tactics is
Sun Tzu
the slowest route to victory.
Tactics without strategy is
the noise before defeat.“
1. Does strategy matter?
Yes, because it answers the questions that give your business direction and a way to measure its performance.
- HOW to get from here to there?
- WHAT is our decision-making policy?
- WHERE do we position our product in a competitive landscape?
- WHY should we move in this direction at all?
2. What are building blocks of strategy?
These building blocks form a strategic process and loop to adapt and improve through time.
- Mission & Vision
- Long-term Objectives
- External & Internal Strategic Analysis
- Strategic Formulation
- Implementation
- Evaluation
Ultimately, you answer the below questions to build a game plan to WIN.
- Position: Who are our customers?
- Resources: How can we access and protect critical capabilities?
- Purpose: What is our unique contribution?
- Fit: Are our capabilities in line with our unique contribution?
3. Strategy for e-commerce
Customers change with time, your sales from existing customers will not last. So we have to plan for acquiring new customers.
As you are going through the strategy process, one question you should keep answering is:
“Who would care if YOUR COMPANY dies?” “What is the unique contribution from YOUR COMPANY?”
Whether it is a price point, a design, a UI, customer support, a product quality, or a particular tech feature, you and your team have to make it clear every step into strategic planning. Because this is the key to make your plan sustainable.
Strategize, stop losing your way.
Conclusion
If you are like me, owning a small online business and trying to grow it, strategy is a must. The trap is that we all like to see a spike in sales after using cool tactics. The sad news is that it won’t last.
On the other hand, putting energy and effort into building assets will help you grow! And to do this systematically, you will need a sustainable strategy.