Strategic Planning Is Not Strategy

Strategy are sets of choices for a desired outcome.

Planning is simply ticking off a checklist.

Today, we cover:

• Questions To Define Your Strategy

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Questions To Define Your Strategy

PE firms think about this a lot less than expected.

And it’s easy to get lost in the glorious returns.

Here’s a primer on strategy from P&G’s ex-CEO:

Define your aspiration. What is your vision?

Work backwards. All actions aim to deliver a winning aspiration.

Where do you play?

This is your core competency that decides what segment, geography and channel you play in.

Who’s your ideal customer and where do you find them?

How do you win?

There will be multiple strategic options for segment/geography/channel/positioning/costs.

Write all of them down, and ask yourself: What would need to be true for it to work?

The strategy with the most realistic assumptions wins.

What capabilities must be in place?

Measure your key business KPIs that allow you to win.

Systems should be easy to use, repeatable and a fit with the people that run your business.

What management systems are required?

Again. Incentives matter most. It should align with the systems and management interactions with customers.

Ask yourself the hard questions and really think.

Re-imagine your business and watch it transform.

See you next week.