Strategy is all about choice, and a clearly defined vision is critical. Whether you’re a start-up or established business, defining and refining what you’re about and what success means is essential to ensuring the important goals are achieved.
Once you know where you want to go, focusing on the 3-5 core strategies helps maximize the impact of resources, allowing for easier prioritization and the ability to say “no” to ideas that distract from your vision.
- Where could you grow in the future?
- Should you pursue an emerging trend, and how aggressively?
- How can you evolve your business to stay relevant in today’s marketplace?
- What should you do about changing customer expectations/needs?
- How could you redeploy your existing capacity against new opportunities?
- Does a current product merit additional investment, or should you harvest it?
- What is your best approach to drive add-on sales and increase lifetime customer value?
- Review the current and historical business performance
- Organize interviews with key stakeholders to get their perspective on the vision and strategies
- Conduct a basic competitor and marketplace assessment
- Generate starter-ideas to accelerate team discussion
- Facilitate team workshops, with “live” revisions to help align the team
- Build a summary of the team’s work in a streamlined framework, with suggested refinements