Strategy Simplified

Author, entrepreneur, and thinker Scott Galloway define strategy in a brilliantly simple way.

“Strategy is what you are going to do that is really hard that will help you win.”

I love this. Anyone who has learned about strategy knows all to well that it can get overcomplicated fast.

This framing is so clarifying because it highlights that easy probably won’t blast you past your competition.

• Cold calling is hard, but generates more sales.

• Setting high quality standards is difficult, but allows your product to stand apart from the competition.

• Improving your processes takes resources, but is how you create a world class operation.

• Reading primary sources in your field can be dry, but gives perspective.

If you want uncommon outcomes, you have to take uncommon actions.

Strategic Planning Simplified

Step 1.) Define what “winning” means.

Examples:

• Growing sales revenue by X.

• Decrease fulfillment times by X.

• Decreasing defects from X to Y.

• Grow market presence from X to Y.

• Grow media presence from X followers to Y.

Step 2.) Brainstorm Options

Ask yourself (or your team).

“What are we going to do that is really hard to win (as you defined it)?”

Have everyone write down their ideas. One tactic I find helpful in group brainstorming is to start quietly and set a timer longer than you think you will need. This allows everyone to get the ideas out without the loudest crowding out the quiet.

At first you see pens moving fast, and eventually they start to slow down. This is good. We want the team to think up unique ideas.

Once the time is up, go around the room and have everyone share their ideas.

Step 3.) Decide the top 1-3 ideas to take action on.

Have an open discussion on the ideas. Identify top 1-3 ideas you will build your plan around. You can do this by voting or simply choosing one as the leader. If voting, I like to use the 3,2,1 method. In this method each person gets a total of 6 points to assign points to the topics and the topics with the highest scores are selected.

Step 4.) Assign ownership of the action

Make sure each idea has clear action and ownership behind it.

Step 5.) Create a scoreboard

You will not know if you are winning or losing. I recommend using a combination of leading and lagging indicators.

Step 6.) Set intervals to review progress

Meet regularly with the team to review how actions are impacting the scoreboard. Are you winning? If not, what do you have to change to get back on track. It’s best to have a reoccurring meeting here. If it’s important, meeting daily or weekly. You vote with your time and attention on what your priorities are.

Step 7.) Win, review, repeat

Start the process back over when you “win” or when you feel it makes sense.

Alright, there you have it. A simplified way to statically take action.

- MB