SHOULD YOU LISTEN TO YOUR “CHACHIJI” (AUNT)?

After all, strategy is so simple!

?In today's world, strategic advice is everywhere. Everyone has their take on what makes a successful strategy. The internet is flooded with articles, books, and webinars promising the secret formula to success. It's tempting to think that strategy is a commodity—something you can pick up, apply, and see instant results.

?But here's the catch: strategy isn't a one-size-fits-all solution. What works for one business might not work for another. Context, market conditions, organizational culture, and countless other variables play a crucial role in determining the effectiveness of any given strategy. This is where the well-meaning advice from family and the friendly “Chachiji” often falls short.

?True strategy requires a deep understanding of your unique business environment, careful analysis, and often, a willingness to take calculated risks. It demands more than just following a checklist or copying a successful company's playbook. It involves critical thinking, creativity, and an ongoing process of learning and adaptation.

?In fact, if you are a startup founder, you will get advice from everyone—your Aunt, your seniors, your juniors, your neighbor, and even your neighbor’s dog! This advice will start flowing the moment you launch your startup, raise your funds, and start seeing early traction. However, running a startup is not akin to running any business. The models are different, and so are the end goals. A traditional business may aim for steady returns for the owners, whereas a startup strives for rapid scaling. The advice you get from friends and family, often well-intentioned, may lead to your rapid decline.

?Consider this: a consumer product startup recently raised its first round of funds. The investors advised the founder to invest in building a community and implement robust performance marketing within a limited geography. However, the enthusiastic founder sought advice from his family and was told to focus on branding instead. Sales did not pick up despite the spend on branding. The startup burned through its funds and folded within a few months.

?So, while it's great to seek advice and learn from others, it's crucial to filter that advice through the lens of your specific circumstances. Take the time to develop a strategy that's tailored to your needs, and don't be afraid to question and refine it as you go. In the end, the most impactful strategies are those that are thoughtfully crafted, rigorously tested, and continuously evolved.

?Next time your “Chachiji” gives you some advice, here’s a piece of advice from me: listen to it, but don’t necessarily implement it!