When you are updating your company strategy, how do you know if your new strategy is a good one?
There are many tests for good strategy, and this is my favourite one:
When a strategy is clear and purposeful, you can tell it as a good story.
Look at this (made-up) example: “We are going to sell more electric cars by providing quick replacement batteries at all petrol stations across the country.”
Why does this work? Here are five reasons:
- A story is simple – people understand it
- A story is short – people will listen to it
- A story has a point – people remember it
- A story makes sense – people believe it
- A story is inspiring – people will follow it
Being able to tell a strong story is a good test of a winning strategy. I’ll share my second-favourite test tomorrow. What is your favourite test of a good strategy?
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