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"You need to be uncomfortable and apprehensive: True strategy is about placing bets and making hard choices. The objective is not to eliminate risk but to increase the odds of success.”
- Roger Martin, Playing to Win
Many companies operate without a strategic focus or even a plan. Without this, how will you know where you are going or measure how and why you got there, when you eventually arrive? If the winds change, how will you then adapt when you don't already know what's behind your successes and failures?
Many companies operate without a strategic focus or even a plan. Without this, how will you know where you are going or measure how and why you got there, when you eventually arrive? If the winds change, how will you then adapt when you don't already know what's behind your successes and failures?
Without a focus on strategic plan, what do you give your employees, backers and even customers to hope for?
Without a focus on strategic plan, what do you give your employees, backers and even customers to hope for?
Answer this: What is your goal, your winning aspiration, as Roger Martin puts it? Your goal MUST solve a customer problem (see Marketing page). Then define exactly, in which market, with which customers you intend to achieve it, and how you might do it. Envision this, and you have taken the first step to making it true!
Answer this: What is your goal, your winning aspiration, as Roger Martin puts it? Your goal MUST solve a customer problem (see Marketing page). Then define exactly, in which market, with which customers you intend to achieve it, and how you might do it. Envision this, and you have taken the first step to making it true!
Niche: Where we play
Niche: Where we play
Strategy: How we'll win
Strategy: How we'll win
You must decide exactly what product or service category you'll engage. The more specifically you identify opportunity, the better focus and results you will have. Remember demographic and ethographic markets, not just general product / service markets. Narrow focus identifies greater opportunities
You must decide exactly what product or service category you'll engage. The more specifically you identify opportunity, the better focus and results you will have. Remember demographic and ethographic markets, not just general product / service markets. Narrow focus identifies greater opportunities
What is your specific strategy? In our case it was to create really cool (form, feel, function) cigar accessories, sell them at a fair price, and guarantee them for life, no questions asked.
What is your specific strategy? In our case it was to create really cool (form, feel, function) cigar accessories, sell them at a fair price, and guarantee them for life, no questions asked.
Capabilities: Who we'll need
Capabilities: Who we'll need
Process: How we support it
Process: How we support it
Who will you need to achieve your goals? The "right people in the right seats." The smaller the business, the more difficult, and the more important that you include both a person's work personality and acumen. Don't forget outsourcing may provide the right individual in the right role without the cost of permanent overhead and management
Who will you need to achieve your goals? The "right people in the right seats." The smaller the business, the more difficult, and the more important that you include both a person's work personality and acumen. Don't forget outsourcing may provide the right individual in the right role without the cost of permanent overhead and management
Make your processes reflect your core values, and execute them consistently. This establishes that you are who you say your are, and you do what you say you'll do. For example, in our lifetime guarantee, we made sure that sales, customer service, shipping and even manufacturing contributed their part in the promise of a lifetime guarantee, as well as the implied promise of continuous improvement.
Make your processes reflect your core values, and execute them consistently. This establishes that you are who you say your are, and you do what you say you'll do. For example, in our lifetime guarantee, we made sure that sales, customer service, shipping and even manufacturing contributed their part in the promise of a lifetime guarantee, as well as the implied promise of continuous improvement.
XIKAR is an innovation company whose mission is to create innovative product and provide exceptional customer experience. Our goal is to achieve laudable brand equity with dominant market share in the cigar accessory business.
XIKAR is an innovation company whose mission is to create innovative product and provide exceptional customer experience. Our goal is to achieve laudable brand equity with dominant market share in the cigar accessory business.
Embarking on an endeavor without a plan to achieve a goal is extremely risky. Imagine starting out in a sailboat without a destination, people, gear or charts to help get you there. Buffeted by the wind, you may never find shore and eventually run out of provisions. In Playing to Win, Lafley and Martin outline specific steps to take to create a strategy that really works. Buy the book, and email me if you'd like to discuss any additional help.
Embarking on an endeavor without a plan to achieve a goal is extremely risky. Imagine starting out in a sailboat without a destination, people, gear or charts to help get you there. Buffeted by the wind, you may never find shore and eventually run out of provisions. In Playing to Win, Lafley and Martin outline specific steps to take to create a strategy that really works. Buy the book, and email me if you'd like to discuss any additional help.
Strategic Plan
Strategic Plan
Review and update your two-page strategic plan at every annual, quarterly and monthly meeting. This is the foundation of your goals, accountabilities and measurables. Click on the left image to download a Google Sheets copy of this plan, or you can find many one-page plans in books and on the web. Gino Wickman's book Traction gives you all you need, including his weekly Scorecard for tracking individual performance and issues.
Your Mission Statement not only exists in your words and deeds, but must also be constantly visible to management in a two-page plan that includes your core focus, your strategic plan, your long range target, annual plan with quarterly milestones and exceptions updated along the way.
Your Mission Statement not only exists in your words and deeds, but must also be constantly visible to management in a two-page plan that includes your core focus, your strategic plan, your long range target, annual plan with quarterly milestones and exceptions updated along the way.
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