What does the movie Twisters and your strategy have in common?

At the end of writing this blog a tornado was the thought that I had in my mind and I couldn't quite let it go.? I think its probably an overhang from watching Twister the other day (original not new) but I think its holds firm for me.?

There is a lot of chasing the next new thing around with strategy and there is an element of the market dictating and perhaps most importantly if you don't get your business built on a solid foundation that bad boy will be picked up and tossed around as soon as the market changes.? Thats it I’m out of twister stylie analogies however the question remains……..

First things first lets get a clear description of a Business Strategy; enter ChatGPT's contribution

A business strategy is a plan that outlines how a company will achieve its goals and objectives, typically focusing on long-term success and competitive advantage. Here are key components of a business strategy:

1. Vision and Mission:

2. Market Analysis:

3. Goals and Objectives:

4. Value Proposition:

5. Target Market:

6. Competitive Advantage:

7. Operational Plan:

8. Financial Plan:

9. Performance Metrics:

10. Risk Management:

My favourite techniques for bringing to life a visual Business Strategy are Simon Wardley Wardley Mapping and another Simon Sinek 's Golden Circle. This is the one we tend to use most frequently at The Grafter for ours and for clients.

I have shared below the most recent one we are working on for absolute transparency - the tickets are colour coded but I feel confident the reader could identify mine! Hot Tip - No wanker policy!

We then set some goals (for us and clients) for a minimum 12 month period and build out a Roadmap which we use to hold ourselves and clients accountable.

Takeaways

1. A strategy is important so you have a clear direction of travel and perhaps most importantly you have allowed everyone an opportunity to see how you make that a reality.
2. Goals make it real and allow a business to see progress and be held to account
3. The market will constantly change; think UK Prime Ministers, Covid, Recessions, Wars, Riots, Inflation but being clear on your ambition with a plan and consensus on execution will make this a hell of a lot easier!