Last week, we explored the six strategy traps.
This week, I want to share a cheat sheet to help you fine-tune your strategy.
I hand this cheatsheet to the executives I work with when we start working together.
And I think it might be helpful for you too.
Print it.
Post it next to your desk.
Obessess about getting it right.
Find it below: (or download)
Let’s recap:
Mindful CEOs know the common traps they can fall into with their strategies.
They look out for these six signs that they are stuck in a “strategy trap.”
Watch out for these 6 strategy traps:
1. The “Do It All” Strategy:
You fail to make choices. Everything becomes a priority.
Solution: Strategy is choice. Take daring sets of choices to win.
2. The “Don Quixote” Strategy:
You attack competitive “walled cities.” You go after the strongest competitor first.
Solution: Pick where you play. Pivot to where you have a chance to win.
3. The “Waterloo” Strategy:
You start wars on multiple fronts at the same time.
Solution: Doing too many things weakens focus. Focus on fewer, impactful efforts.
4. The “Something for Everyone” Strategy:
You attempt to capture all consumers/channels/geographies /categories at once.
Solution: To create real value, choose to serve some constituents really well.
5. The “Dreams Never Come True” Strategy:
You develop high-level aspirations and mission statements that never translate into action.
Solution: Choose where to play and how to win carefully.
6. The “Program of the Month” Strategy:
You settle for the same as your competitors: the same customers, the same strategy, the same choices. You look like everyone else.
Solution: Obsess about your unique value.
"Strategy is about making choices, trade-offs; it's about deliberately choosing to be different.”
Where have you fallen for a strategy trap?
Let me know, and just answer this email.
See you next Monday,
