It is January, and it is time to get back into the swing of things. Starting with your plans for 2023 (and beyond). Here is a blog I wrote some time ago. Explains 4 tools that should make strategy development a little simpler. Based on a short book I wrote about strategy. You can find it here. Use “Happynewyear” as the code, and you can download it for free. My best wishes for 2023.
The 4 tools
1. Your information dashboard
Rubbish in, rubbish out. You should develop a dashboard and increase the quality of your information supply. Create a dashboard of information sources relevant to you. Include serendipity to avoid the filter bubble. Here are some suggested sources. Follow these sources for a month, and you will never be the same.
- TED
- Stanford
- MIT
- Harvard Business Review
- Science Alert
- Futurism
- Abundance 360
- Singularity University
- Live Science Essentials
- Technomy
- Fast Company
- Big Think
- Axios Future
- Futurity
- Gaia
- Interesting Engineering
- McKinsey
- Strategy+Business
- Nano magazine
2. Your strategic filter
To make sense of the information, you should develop a filter. Based on extensive research, the key strategic parameters are passion, mission, vision, value, positioning and resourcing. Write your passion statement, determine and write down why you exist, define and write down where you want to be in 3-5-10 years, write down your guiding principles, think about how you want to be perceived in the marketplace, and quantify the resources that are available to you (time, money, network, knowledge, etc). You have now developed your strategic box. Make sure everyone is agreed on the 6 statements. Information that fits inside the box is relevant. Information outside is less so.
3. Reverse attribute listing
My favourite is attribute listing, as it takes a very holistic approach that impacts not only the story but also the future business model and future opportunities. It is a technique where you split your company or your product into the smallest parts possible and start asking a few questions per individual piece:
- is there a story
- how does it add to the experience of service or product
- is it a differentiator
- is it core
- what can technology can we apply now
- what technology is available in 2-5-10 years that could be applied
- can we outsource it
- what emotions are involved
- what emotions are triggered
- does it have a negative or positive climate impact
- can we use it as a talk trigger
- can we visualise it (video, VR)
- can it be digitised
- is it circular
- can it become a distribution channel
- how quick or slow is it
- does it add to the friction
- can it be removed
- how much does it cost
- how much does it add to the profit
- how does it add to ZMOT, FMOT, SMOT, UMOT
4. 100-day plans
Translate your strategy into 100-day plans. It helps to maintain focus.
Help
If you want to implement this approach, we have developed a simple 3-step programme strategy development programme. Click here.
