8 Simple Questions Every Strategy Must Answer to Be Able to See Your Greatest Competitive Advantage - Strategystorming - The Strategy Studio & Shop for Strategic Thinkers

8 Simple Questions Every Strategy Must Answer to Be Able to See Your Greatest Competitive Advantage

How Do You Define Your Strategy?

It often seems that elusive terminology for 'crystal ball gazing' or mind-numbing so-called 'strategic planning'. We probably won't all agree on the same answer on this, so here are 8 simple Questions Every Strategy Must Answer.

This misunderstanding with the basics of strategy can often times hamper how we then craft & execute our strategy. The truth is, we won't all agree on the same definition.

So, instead of trying to define it, what if we just asked a number of important questions that a good strategy actually helps us to answer? Here's what I've found helps answer the questions of what a good strategy needs to answer:\

8 Simple Questions Every Strategy Must Answer.

  1. Reinvention & Change. What is important to understand about how you are affected by change and what happens if you don't adjust to change?
  2. Future-oriented: What will you need to do to succeed in the future, and how is that different from what you needed to do to succeed in the past?
  3. Evidence-based: What evidence do you have to support your decisions, and what processes do you have in place for re-confirming or adjusting that on an ongoing basis?
  4. Focused: What will you choose to do, and equally importantly, what will you choose not to do or to stop doing?
  5. Differentiated: How will you differentiate yourself in the market?
  6. Aligned: How will you align all of your people and resources to the achievement of your goals?
  7. Results-oriented: How will you know if your strategy is working? How have you defined your roadmap and next steps?
  8. Barriers: What are you using to see the barriers ahead of you? How does a strategy Radar guide you forward?

Did you notice the "what's" and the "how's" questions?

We don't need a strategy to exclusively define the "why"; again, sometimes this is another misconception about strategy.

The "why" should be obvious to you at this point, otherwise you don't need a strategy, you need to start with a vision... and that is for another discussion.

Strategy is about your own Competitive Advantage, and it's more about how you think, than you might be thinking.

Your biggest competitive advantage that you can ever have is how you think and how you problem solve better than anyone else, especially in these challenging times.

This is your strategic thinking, only you have it, and your future really does depend on it.

And, guess what? This doesn't need to take a long time to sort out - this is what we do in our regular strategy sprints - show you some quick hits that will allow you to see the changes you need to make now, and which ones can wait.

Tomorrow, I have my next strategy sprint to help you QUICKLY grow YOUR competitive advantage in how you think strategically. Would you like to join us? Grab the details here.

Strategy is the only tool in your transformation toolbox that is designed just for you, and by you - - here's how to put it to good use, for you.

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