“What’s our strategy again?”
I asked this question to three different teams last week. Three different companies. Three different industries. Similar responses: awkward silence, vague generalities, and conflicting answers.
In one manufacturing company, the VP of Operations discussed operational excellence, while the sales director emphasized customer relationships. The CEO mentioned innovation. Three leaders, three directions. No alignment.
Strategy is your North Star guiding your business through uncharted territories. It’s about setting a course that navigates challenges and capitalizes on opportunities.
However, most companies lack effective strategies. They have wishes.
Real strategy answers three questions with brutal clarity:
- Where will we play?
- How will we win?
- What capabilities must be in place?
When Harvard researchers studied mid-market companies, they found the most successful ones dominated a specific niche rather than competing broadly. They understood the power of saying no.
Their playbook wasn’t complicated. They identified underserved market segments. They developed solutions addressing specific pain points. They created systems that competitors couldn’t easily replicate.
The others? They chased revenue wherever they found it. They tried being all things to all customers. They confused activity with progress.
Strategy requires sacrifice. You can’t be everything to everyone.
Ask your team what you’re deliberately NOT doing. If they can’t answer immediately, you don’t have a strategy – you have a to-do list.
Your strategy should fit on one page. Everyone should know it. Anyone should be able to explain it.
Because if they can’t repeat it, they can’t execute it. And a strategy without execution is just a good intention.
