The word used badly.
WHAT STRATEGY IS
A set of choices about where you will compete and how you will win there.
WHAT IT IS NOT
A list of goals A revenue target A statement of ambition A plan of activities
WHY THOSE ARE NOT STRATEGY
They describe what you want, not how you will get it or why you will succeed where others have not.
WHAT A STRATEGY MUST CONTAIN
Who you serve What you offer them Why they choose you over the alternatives What you will not do
WHY THAT LAST ELEMENT IS ESSENTIAL
A strategy that excludes nothing is not a strategy.
WHAT MAKES CHOICES REAL
They cost you something.
WHY THAT TEST WORKS
If a choice costs nothing to make, it is not a choice.
WHAT MOST SMALL BUSINESSES DO INSTEAD
Serve whoever arrives, offer whatever is asked, and compete on price.
WHY THAT FAILS SLOWLY
It works until someone competes on price more effectively.
WHAT STRATEGY PROVIDES
A reason to say no A basis for deciding Consistency over time
WHAT IT REQUIRES
Understanding customers Understanding your own capability Honesty about both
WHAT TO TREAT THIS CATEGORY AS
A way of thinking, applied to your actual situation.
