💭 Strategy: 3 Ideas and Go!

3 Ideas at the Core of Strategy

A good strategy:

• Gives you power.

• Has clear strategic choices.

• Can be repeated.

The Big Idea: Your strategy should have reason to it.

Strategy’s ultimate idea: Why are some businesses successful and others are not?

My lens of looking at strategies revolves around 3 ideas:

• Does your strategy give you more power?

• Are there clear strategic choices?

• Is success repeatable? Or, did you get lucky?

Power: I learned about the “Power Framework” from Dr. Kamal Munir.

Dr. Munir’s framework says that a good strategy gives a business power at three levels:

• Over customers

• Over the competition

• Over suppliers

Clear Choices: Is there a through line for your strategy?

• Consistency of focus.

• Actions that line up with your focus.

Lucky or Good: Can you do it again?

Don’t discount luck. But if that’s your entire business model: better you than me.

Today’s Quote:

“Look for your choices, pick the best one, then go for it.” — Pat Riley, President of the Miami Heat