Strategy – What is Strategy?

Strategy versus marketing.

Is strategy all about being good at winning customers?

Or does winning customers come from having a good business strategy? Customers come to us because of what we are, what we do, what we stand for and how we interact with them.

How do we decide?

• How do we decide what to deliver?
• How do we decide where to target?
• How do we decide whom to target?
• How do we decide how to deliver on our promises?

The decision-making process is the strategy creation.
• You can’t read about it in a book. Sorry.
• You can’t copy and paste. Sorry.
• You can’t just do what you see the competition doing. Sorry.
Well, actually you can, but the truth of the matter is, your chances of success will be low.

Why?  Because you are different.

• Your business has different skills to the others.
• Your business has unique people.
• You are different.

Despite coming from similar schools, universities and technical colleges, they are all different people. That makes them different. It makes you different from them.

If you are 40 years old, you have different ambitions to a 50-year-old or a 60-year-old.
Ten years makes a big difference. In fact, it makes a huge difference in energy, motivation and ability to deliver. So does the size of your bank account and the level or risk you are willing to take.

A few years ago, Roaring Success worked with at least five, maybe more, mould tool manufacturers. These companies supplied the car manufacturing industry in Australia (Ford, General Motors and Toyota).

What we found was very enlightening.

• You see, they might offer the same product or service, but they were not all the same as suppliers.

• They might be based in the same town, but they behave differently. Customers see you differently. How they experience your customer service has a huge impact.

• The suppliers might know how to cut steel and convert that lump of steel into making high specification parts for cars, but ostensibly they share the same basic factors as all the others. They have access to the same tools, suppliers, materials and cost structures.

They are the same, but different.

What makes you different?

1. It’s how you think.
2. It’s how you behave.
3. It’s how you choose to make decisions.
4. It’s how you interact with your customers.

For example.

1. One mould tool maker and plastic injection part maker decided to set up overseas They chose to target the auto industry in another country.

2. Another chose to produce moulded parts for another market.

3. Another chose to start anew business, doing something completely different instead.

4. Another chose to build on existing customers, but in different industries.

5. Another chose to close down completely.

You see, all these choices are available to all participants.

But the risk profile, the amount of money available to take the next steps, with varying degrees in the certainly of success, the level of backing from investors, co-owners, parent companies – these all affect the decision-making mood.

You might think that the five companies – with the same tools and techniques – would adopt similar strategies.

But the truth is no, that’s not the case. Their strategic direction is very much driven by the mindset and risk/ comfort levels of the business owners and the ultimate decision makers.

Make the best decisions.

My job as a business consultant is to help those business owners make the best business decisions that they can. It will be their decision, and not mine. They will decide not me. After all, it’s their money and livelihood at stake. They need to choose.

I can help layout the options, risks, upsides and challenges, but the business owner will make the ultimate decisions for where to invest and what to do next.

Plain vanilla or the ice cream sundae.

Are you happy with plain vanilla or are you ready for something more enticing?

Do you want small improvements on last year – incremental 1% to 5% change?
Do you want to push further, faster, harder. Risk more?
Or are you happy with what you have now?

These are all options. Valid options. Only you can decide which to take.

I can help you to organise and filter your options, and help you understand which might be the best and worst.
• A simple plan is a good plan.
• A clear plan is a good plan.
• A plan the whole team understands is a good plan.
Yes, let’s do that.

Want to test yourself out? CLICK HERE to do a Strategic Thinking Self Assessment.