There are 7 key questions that guide you through the strategy development process:
- Why do we do what we do? This is your organisation’s purpose, the reason you are in business or the reason you exist. Without this you don’t have a North Star to guide your strategy, what are you really making a strategy for?
- What do we want to achieve? This is the big outcome that is aligned to your purpose. It’s your aspirational goal. Often this is expressed as the solution to the biggest issue or problem you need to solve.
- How might we do this…by doing WHAT WHERE. These are the uniquely, complimentary, paired choices you make about where you will focus your efforts and how you will achieve success there. Neither of these choices are taken in isolation of the other, they are paired choices that only make sense when they are together.
- If we do this what are we saying no to? This is perhaps the biggest challenge for strategy. Choices mean saying no to things that are sometimes equally great. The point about being strategic though is to focus for maximum effect, not take a scattergun approach. For more on this see my post here.
- How well is our business set up to do this? Your choices only make for a good strategy if you have unique core competencies that will enable you to carry it out. Are these competencies already in place or can they be quickly created? Consider the business structure, organisational design, ways of working, skills and expertise). How much change will be required and how easily can the organisation change?
- What mindsets and behaviours do we need to support this? Consider how leaders will need to lead differently. What behaviours do you need them to role model in order for this strategy to be successful? How will you need to interact differently with each other and with customers, stakeholders, and competitors?
- How do we know this is a good strategy? Make a clear list of your assumptions. Are there any assumptions that feel big and risky or could be potential derailers? If so what could you do to get more certainty on them? Sometimes just a bit more market research or a pilot is sufficient. It’s OK to have assumptions in your strategy, all strategies do, the problem is when they are not articulated and not being monitored. Get them all down on a dashboard and start to monitor them. Then you can see if your strategy is working out.
For workshops and coaching to support you or your team in strategy development contact me at Sarah Robertson Consulting or book a discovery call.
