is the name of the book I’m currently devouring…
And it comes highly recommended. Suddenly so much of advice I’ve previously been given makes sense!
I’m only at the beginning of the book and already have pages of ideas and ‘grey time’ thoughts scrawled down for myself, and although I have many insights to share I’m just going to pick one point to share which is to re-clarify exactly what a good strategy really is.
I paraphrase from the text;
“A good strategy should have coherence, coordinating actions, policies and resources so as to accomplish an important end … Having conflicting goals, dedicating resources to unconnected targets and incompatible interests, makes for bad strategy.
However, despite this most organisations generate a laundry list of desirable outcomes while ignoring the need for genuine competence in coordinating and focusing resources.”
Core … I’m sure you’ll agree that’s powerful!
– How many times have you confused targets/outcomes for strategy?
– How many times have you focused on the symptom or problem and missed focusing on the real strategic issue?
– How many times have you set away multiple projects or initiatives pulling resources in multiple and conflicting areas?
– How many times have you said ‘Yes’ to the wrong things, to the wrong kind of customer, to the wrong kind of deal, to employing the wrong kind of person, rather than hone your competitive advantage through the application of good strategy?
– How well do you understand the weaknesses of your competition, allowing you to develop strengths and find power in these precise areas? (as a scale-up business this is crucial – it’s unlikely you will not have the resources to compete in every area, so focusing on the 2 or 3 areas that give you competitive advantage must be part of your growth strategy)
So what is the single most important challenge within your business right now – that once identified, your strategy should address using innovation and ambition to select the path, identifying how, why and where your leadership and determination are to be applied.
I can’t wait to see some of your thoughts on this on the Facebook page this week!