Strategy is not about being the best, but about being unique and bringing fulfillment to a need that may not have been thought about when it comes to business. Competing to be the best in business is one of the major misconceptions about strategy.
Many leaders compare competition in business with the world of sports. There can only be one winner. But competing in business is more complex. There can be several winners. It does not have to be a zero sum game – you win, I lose or vice versa.
Within a single industry, you can have several companies beating the industry average, each with a distinctive, different strategy. They are no direct threat to each other. There can be several winners. So the worst possible approach to strategy is to seek out the biggest player in the industry and try to copy everything they do. ‘I want to grow my business’ is not a business strategy. ‘I want to grow my business’ is the same as saying, ‘I want to be rich’. Growing is not a strategy, it’s a consequence. When someone includes growth in their strategy, there should be an orange light starting to blink. Business is not about having the largest market share or about growing fast. It’s about making money.
We help people strategically look at their business and figure out how to make money. We do this by helping you learn to know your industry, make educated and informed choices, learn how to say “NO”, help you to keep moving forward, help you think outside of the box with crucial scenarios that will keep you from stumbling when hard decisions need to be made.
For more information on business planning please contact us.