Does your strategy have room for something different?

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Where are you expecting success to come from this year – doing more of the same or doing something different? I don’t always ask this explicitly to my clients when talking about their growth plans, but I think I should to get them thinking about new opportunities.

Photo by Matt Ridley on Unsplash

When a business intends to start a new venture or enter a new market segment, they are planning to do something different. But for an established business, the implicit assumption can be that “making a strategy” is doing more of the same, just writing it all down in a way that looks good to senior management or investors. So let’s just get on with it, shall we?

And then something happens… as part of the process of looking at the market, customers, competitors and capabilities, a picture emerges that points to doing something different. That’s not what the client was expecting, and it can be a challenge to convince them that it’s worthwhile.

I once made a plan for a business venture that showed they needed to sell larger medical devices, because the cost to serve was too high for selling small ones. Large devices were not on their roadmap, so they stuck with the small ones until they closed down.

So don’t let that happen to you. Are you going to look at doing something different this year?

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