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Entries in strategy (39)

Tuesday
May202014

Beware: Cliches Ahead.

Sometimes there’s a reason the road less travelled is not congested.

It’s easy to come up with slogans to explain success. Management commentary is full of them yet they often describe a singular success that isn’t easily transferred to another business.

“Sticking to your knitting” might be a successful strategy for one firm but not for a competitor. You could say it works for Walmart, but it didn’t for Sony. It stuck to the Walkman way past the arrival of the MP3 player. A better cliché might have been “when the horse is dead, get off”.

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Tuesday
Apr222014

Strategy Vs Tactics

Optimizing your business and your life.

Vislon, purpose, mission, goals. They are big words and there’s value in all of them. But once you’ve worked them out, nothing will happen without action. It’s where strategy and tactics come in. You need both.

What’s the difference between the two?

Strategy is a plan designed to accomplish the end result. Tactics are the procedures that implement the plan.

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Tuesday
Apr082014

Blowing your inheritance

Managing your DNA in business and life.

Genetics have always been a good excuse. We often hear it. “There’s nothing I can do about it. It’s the way I am.”

Sometimes, that’s a good thing, like healthy acceptance; other times it’s resignation and disempowerment.

You hear the dichotomy in business with statements like: “We are really good at doing this” versus “This is the way we’ve always done it.”

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Tuesday
Feb112014

Getting Lucky

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Sometimes, the flip side is the better track

In 1978 Gloria Gaynor was a moderately successful singer. That changed when she covered a Righteous Brothers number called “Substitute.” Few would remember the tune. That’s because it flopped. On the flip side was a new track no one had heard of. It was called “I Will Survive.” It went to the top of the charts and so did Gloria Gaynor.

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Tuesday
Oct152013

Intuition: Friend or Foe?

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What to do with those “hunches”.

In 1977, three of us launched a truck driver’s tabloid. We got the idea while lying on a beach. We sold it to a printing company and negotiated a handsome package to produce the editorial.

We had no strategy. We did no market research. We just put it together and put it out there. Rigs and Roads was an instant success.

Why?

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