6 Lessons from Good Strategy, Bad Strategy
Are you curious about what makes a strategy truly effective?
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| Photo by Jon Tyson on Unsplash |
In “Good Strategy, Bad Strategy”, I discovered 6 lessons that changed my approach. These insights are game-changers for anyone looking to improve their strategy.
Ready to learn more? Let’s get started!
(1) Definition of strategy
All too often people see a strategy as a collection of goals. But this isn’t what a strategy is about. A strategy is derived from goals and contains concrete measures to achieve goals.
Goals must be formulated so that the path to achieving them is visible. As a leader, you have to remove complexity from the problems. You have to think about interlinkages in your optimizations.
(2) Use your strengths
A good strategy makes the best possible use of your strengths. What methods are you (or is your organization familiar with)? What is your competitive edge?
(3) Rules for a good strategy
A good strategy follows 3 simple rules:
- It is easy to understand.
- It has little fluff (complex contexts with little information).
- Measures must be coherent and are implemented.
(4) Saying no
Creating a good strategy also means saying “no” to many things. This is the only way to stay focused and prevent you from ending up with an “all but essentially nothing” strategy.
(5) Imaginary Committee
An idea that stuck with me was the “imaginary committee”.
How does it work?
Create an imaginary committee by thinking of people you’d like to have onboard - they can be successful entrepreneurs, people you look up to, or even fictive characters such as superheroes. The important thing is that you can imagine how they would consult you.
If a different decision comes up in the future, take your time and consult your imaginary committee.
(6) Reflect more
Critically analyze your ideas, reflect, and consider alternatives before jumping on them. To Think Again, before you decide can opt for your strategic game.