THE WHAT & THE HOW

Almost every businessman I come across always struggle with strategy. They earnestly want to develop good strategies and they get the theory.

The term ‘Strategy’ which in terms of business is a set of guiding principles that, when communicated and adopted in the organization, generates a desired pattern of decision making. A strategy is therefore about how people throughout the organization should make decisions and allocate resources in order accomplish key objectives.

Each business dilemma seems to be its own unique beast. While we all tend to focus on prioritizing the important issues to solve, and have an overall approach to maximizing profitability, we often lack a common, effective approach for solving key issues. Too often we reinvent the wheel by delving into the particulars before looking at the big strategic picture. When framed strategically and consistently, the solutions can show themselves quite readily. In doing so, Who, What and How are the key questions to ask.

The What:

WHAT can we offer that will meet the needs of who we are trying to serve? This is the critical question, because too often we ask this the other way around: here is our WHAT, now who will buy it? Leading with our products or services and believing that the market will follow risks irrelevance. "The What" refers to the business's core elements, including its products, services, goals, and value proposition.

1. Unique Value: The value proposition highlights what makes the business distinctive. This could be a unique feature of the product, a specific benefit, or a combination of factors that sets it apart from competitors.
2. Customer Benefits: It clearly articulates the benefits customers can expect to receive by choosing the product or service. These benefits could be functional (e.g., cost savings, efficiency), emotional (e.g., improved well-being, convenience), or social (e.g., status, belonging).
3. Target Audience: The value proposition is crafted with the target audience in mind. It should resonate with the needs, preferences, and pain points of the specific customer segment the business aims to serve.
4. Clarity and Simplicity: A strong value proposition is clear and easy to understand. It avoids jargon and communicates the essence of the offering in a way that resonates with the customer.

The How:

Once the What is defined, it is time to figure out the How to deliver to the who.?This involves considering deeply how and when the who will be most open to our WHAT. When the challenge is a complex one, this is best done visually via a journey map, so that we ensure total focus on HOW the WHO walks through their life’s journey and where the WHAT can fit in to this.

The?how?refers to the?business model?or the?strategy?that enables the delivery of the value proposition or the problem solution. This involves the operational and functional aspects of the business, such as:

1. Operations: Describing how the business runs on a day-to-day basis. This includes manufacturing processes, supply chain management, and any other operational activities.
2. Marketing: Outlining how the business promotes its products or services to attract customers. This involves strategies for advertising, branding, and customer engagement.
3. Sales: Detailing the methods the business uses to sell its products or services, including the sales channels, distribution networks, and sales team structure.
4. Technology and Innovation: Addressing how the business leverages technology and innovation to stay competitive. This could involve adopting new technologies, conducting research and development, and staying abreast of industry trends.
5. Finance: Explaining how the business manages its finances, including budgeting, revenue generation, cost management, and financial planning.
6. Human Resources: Describing how the business recruits, develops, and manages its workforce. This involves HR policies, training programs, and employee engagement strategies.
7. Customer Service: Outlining how the business ensures customer satisfaction and manages customer inquiries or concerns.
8. Sustainability and Social Responsibility: Addressing how the business incorporates sustainable and socially responsible practices into its operations.

"What" encompasses the business's offerings and identity, while the "How" delves into the strategies and processes that drive the business forward. Successful businesses align their "What" with their "How" to create a cohesive and effective approach to achieving their objectives.