Making Space for Strategy. Pun Intended.

At LA Tech Week, while facilitating a panel on space technology and startup investment, I couldn’t help but reflect on how we approach strategy in new, uncharted territories like space exploration. It’s easy to focus on the excitement of launch, but real success comes from what happens behind the scenes—hardware, collaboration, and the ability to transform ideas into reality.

I walked in knowing a few things:

• Space is a hardware based market.?
• Space is a complex engineering market.
• Space has received $Bs in investment, but the ROI is LOOONG-term.
• The space startup market is dominated by companies that don’t seem like traditional startups.

I walked out convinced of two things:

1. We must care about space if we want to see life improve here on Earth.
2. Building the future frontier from the ground up (pun intended) allows us to see how despite complex tech or market conditions, good business strategy delivers.

In this #StrategyIRL article, I want to break down how my experience learning about space tech underscores what has to happen behind the scenes of innovation, leadership, growth, and transformation to ensure investment is achievable and effective. Understanding how each plays a role is key to turning what was once just Judy Jetson ideas into real-world 21st century outcomes.?

(I will try to do so without making this entire article about Elon’s recent wins. He’s certainly not the only one who is making splashes in this space, pun intended.)

Space tech makes Earth life better in many ways. From our GPS through massive evacuation planning for deadly weather, we rely heavily on space-driven solutions. Over a million people rely on MyRadar’s AI rain predictions each day, and now the company has plans to go even further. MyRadar is building their own satellites to better observe the world from above using AI software “at the edge” to monitor the planet and alert users of the dangers below, increasing the value of their weather services.

MyRadar is an interesting example of a tech company that has a large user base for a service that’s dependent earthside and improved with satellites in space. What does this company do that applies to any complex tech or business solution?

Innovate Iteratively

• Create hardware that adapts to any situation: Whether it’s a natural disaster or a crisis like the Ukraine conflict, hardware needs to be flexible and durable enough to work under extreme conditions. Think modular designs that can be deployed quickly, wherever they’re needed.?
• Use data to make smarter decisions: Real-time data from satellites and communication systems can save lives in a crisis. Incorporate AI and data analytics to provide fast, actionable insights that help people on the ground make the right calls.
• Test in the toughest conditions: Before deployment, hardware should be tested in environments as close to reality as possible—whether it’s deserts, mountains, or disaster zones. Real-world feedback helps refine and improve the technology, making it more reliable when it really counts.

Grow with Strategic Partnerships through Trust & Collaboration

Creating partnerships that push boundaries and lead to breakthroughs is critical to accomplish large futuristic goals. In both space technology and global leadership, collaboration is the cornerstone of progress. As I presented to a conference of Model UN students back in 2023, the future of governance will be shaped by partnerships that extend beyond nations—what I call “interorganizational” leadership. This same principle applies within business where creating partnerships between public agencies like NASA and private companies such as SpaceX and MyRadar is essential to pushing boundaries. But where does an organization, especially a nascent one, start?

• Find the right partners: Whether it’s NASA or private tech firms, the key is building bridges across different sectors. Look for partners who share a common goal—whether it’s solving a big problem or pushing the limits of exploration.
• Keep the communication open: Trust grows when there’s transparency. Regular check-ins, data sharing, and open discussions help everyone stay aligned and move toward the same vision.
• Work together on scalable solutions: When collaborating, aim for projects that benefit both the as-is environment (e.g., life on Earth) and the future market (e.g., space).

Transformation Take Time; Be Flexible

Creating a rocket doesn’t happen overnight – nor does any form of hardware development that achieves outcomes not previously met. The reality is that most tech industries rely in some way on hardware and are anchored to its limitations. From manufacturing through the underpinning of computer and global software supply chains, hard tech is at the cornerstone of innovation. Physical assets linger and often require operations long past their prime. This, however, is changing as evident in even the most complex arena: space. The same mindset that I encourage in leadership—pushing boundaries and thinking creatively—also applies to technological advancements. Small satellite costs are low, launch is getting easier, and even Elon is seeing rocket wins. These industries show us that, even when quickening in pace, there still remain some important and consistent approaches for transformative strategy success.?

• Future-fuel the tech: The hardware we create today needs to be ready for the missions of tomorrow, even when it will take ample time. Focus on designing systems that can evolve as the environment can change faster than the R&D plan.
• Collaborate across sectors: Growth happens when public agencies and private companies come together. By pooling resources and expertise, we can create the hardware needed for groundbreaking missions that benefit all involved.
• Plan for parallel: Transformation requires balancing legacy and future environments. Know that investment needs to support both maintaining some degree of legacy operations while launching new versions. Give time for testing, piloting, and change management. The results will ultimately include greater fidelity in what’s new and increased adoption.

Leaders Need to Always Be Fundraising

SpaceX is one of Elon’s companies that collectively have nearly $3B available across more than 100+ government contracts across 17 federal agencies. Deep tech entrepreneur, CEO and co-founder, Kate Lynch , spends a vast proportion of her time with venture investors. NASA leadership is constantly briefing Congress on why it needs greater resources for its R&D. These facts emphasize that a leader’s role is closely tied to attracting and retaining investment. Leaders good at doing this fundamentally focus on:?

• Charting the vision - Leaders must articulate a compelling, long-term vision that not only inspires their teams but also resonates with investors and stakeholders. This involves creating a strategic roadmap that breaks the vision into actionable, measurable milestones, ensuring progress is transparent and achievable. Early engagement with key stakeholders builds alignment and trust, ensuring that the vision has the necessary support from its inception to execution.
• Advocating for the vision - To gain momentum and backing, leaders need to advocate for their vision through clear and powerful messaging. Simplifying complex ideas into a digestible narrative that highlights the value and impact of the vision is key. Thought leadership and public advocacy, such as speaking engagements or publishing insights, can boost credibility and visibility. Building a network of champions who believe in and support the vision further amplifies its reach and influence.
• Getting the vision funded- Securing funding requires cultivating strong relationships with investors and ensuring open communication about progress and challenges. Diversifying funding sources—through government contracts, venture capital, or strategic partnerships—provides stability and resilience. Leaders must also demonstrate a direct link between funding and strategic goals, clearly outlining how investment will drive the vision toward key milestones, ensuring effective use of capital and sustained growth.

To Infinity & Beyond

In the words of Buzz Light Year, a successful strategy can take an organization to infinity and beyond. Doing so, as my time with space experts in LA shows, still requires commitment to the interdependent components of strategy: innovation, growth, transformation, and leadership. Thanks to WE Global Studios, the @Founderverse, the WOMEN IN TECH?USA chapter of WOMEN IN TECH ? Global , and the Athena Alliance for making LA Tech Week out of this world.

NBG Strategy Consulting specializes in guiding teams across industries including hard tech, equipping them to overcome complex challenges and seize emerging opportunities. Whether you’re charting a course for groundbreaking missions or exploring uncharted territories, our tailored approaches and workshops foster innovation and strategic thinking to help your team lead the way in futuristic endeavors like space exploration. Let us help you unlock new possibilities and drive your vision into reality.