Business Strategy: The Dirty Word We Love to Ignore

It is quite fascinating how the misconception persists that exceptional business strategists possess an extraordinary ability to peer into the future with unparalleled clarity. This fallacy often manifests itself in the rather peculiar comparison of these strategists to chess grandmasters. It's like they're the chess grandmasters of the corporate world, making mind-blowing moves while the rest of us struggle to remember how the horsey-shaped piece even moves.?Maybe we should hold our breath and wait for the day when business decisions are made on a grand chessboard, with CEOs wielding pawns and knights instead of quarterly reports and spreadsheets.

Regrettably, the truth of the matter is that most organizations allocate precious little time to strategy. The ‘superhuman strategist’ is but a cryptid. In the business milieu, it’s allergy season and everyone is allergic to long-term thinking. ?This state of affairs extends beyond the boardroom and permeates every level of the corporate hierarchy. Oh, they may pay lip service to it, throwing around buzzwords and lofty visions like confetti at a parade. But when it comes to rolling up their sleeves and delving into the strategic abyss, well, that's where things get a bit tricky. One can't help but wonder about the reasons behind this inadequacy, and a few culprits come to mind.

First and foremost, we find ourselves in a world where the pressures of operational work hold sway. Even the most skilled and astute individuals, from managers to executives, find their minds entangled in a web of day-to-day tasks and immediate concerns. It seems that the pursuit of strategic excellence is often obscured by the banalities of the quotidian grind.

And then there's the curious blend of comfort and fear that propels people towards the tangible security of their daily routines rather than confront the daunting specter of an uncertain future and the formidable choices it presents. It's as if we stick with the cozy warmth of our present predicaments rather than venture into possible future resolutions. A prickly blanket of routine is preferred to the embrace of uncertainty.

In the ever-chaotic business landscape, the term "strategy" is often tossed around with reckless abandon. It seems that everyone has their own idiosyncratic definition, as if it were a choose-your-own-adventure novel. Vision, mission, goals, measurements—we must not confuse these grandiose notions with reality.

The essence of strategy is a series of choices. Strategy demands that we engage in thoughtful discussions, carving out space and time to deliberate over what we embrace and what we reject. The enlightened among us would recommend employing a nifty tool such as the Eliminate-Reduce-Raise-Create (ERRC) grid from the illustrious minds at Blue Ocean.

Asking the right questions can be the difference between sinking or swimming in a sea of competition.

? What makes your customers flip the switch and wander into the welcoming arms of your rivals, or even venture into entirely different industries altogether?

It's crucial to understand their motivations, dissect their choices, and figure out how you can satisfy their needs with your own offerings.

? How can you ease the pain points that keep your customers up at night?

Pinpointing those irritations and crafting effective solutions will be the secret sauce to winning their hearts (and wallets). But let's not stop there. We must journey through the entire customer experience, from the first curious click to the final satisfied sigh.

? What happens before, during, and after your customers interact with your brand?

? Unraveling this mystery will help you fine-tune your approach and deliver an experience that dazzles from start to finish. And here's a little test for you: if you can't eloquently describe the trade-offs you've made and the meticulous process you've employed to manage and communicate them, well, it seems like you might be lacking a bona fide strategy.?

When it comes to the perplexing realm of business strategy, there's one question that demands attention: Why? Sure, everyone seems to be on board with the idea that strategy is vital for success, but let's not forget that popularity doesn't always equate to truth. Strategy isn’t about making predictions with a crystal ball; it’s actually a different ball game altogether. It's about a tireless pursuit into the intricate mechanics of the world and becoming an expert in interdisciplinary knowledge. We're not in the business of predicting the future; we're in the business of acknowledging uncertainty. Many wise strategists of our time dance with discomfort, with an arsenal of mental models ready for varied scenarios. In this jungle of uncertainty, it's survival of the sharpest.

Take the tale of Spencer Silver and Art Fry, two unlikely heroes within the esteemed halls of 3M. Silver, driven by the pursuit of a super-strong adhesive, stumbled upon a low-tack concoction that fell short of his desired bonding powers. Instead of succumbing to despair, Silver astutely recognized the hidden potential within his accidental creation.

Years later, Fry found himself vexed by the persistent issue of paper bookmarks that refused to stay put in his choir hymnal. Drawing upon the depths of lateral thinking, he recalled Silver's adhesive revelation. In a moment of epiphany, Fry perceived a solution where others saw only failure. The low-tack adhesive could serve as the foundation for sticky bookmarks, seamlessly adhering and leaving no trace upon removal.

Through their collaborative efforts, Silver and Fry birthed the iconic Post-it Note—a worldwide sensation. Initially met with skepticism as a solution in search of a problem, the product found its champion in 3M, an advocate of exploration. Encouraging its employees to experiment, the company distributed free samples internally, fueling a spark of creativity among the workforce. People discovered innovative and unforeseen applications for the Post-it Note, propelling its adoption with astonishing rapidity.

When it comes to crafting a winning strategy, start by grasping the unyielding principles that shape reality and human behavior. Skip the whirlwind of fleeting trends and focus on a rock-solid knowledge foundation. Why chase after the latest Facebook marketing tactic when you can delve into the psychology of influence? It's like having a secret weapon in your business arsenal, capable of impacting multiple fronts. And if you want to inject some electrifying innovation, try reverse brainstorming. Instead of ordinary solutions, dare your team to unleash a torrent of unconventional and counterintuitive ideas. Break free from the mundane and revel in unexpected breakthroughs. In the game of strategy, sharp wit and cunning moves are your ultimate allies. Prepare to conquer!