I have previously shared my ongoing strategy tweets here and here, and have now reached the magic 100 insights! I will be continuing to post ideas and insights and you can follow me at https://twitter.com/stuart_cross
See below the list from 76-100, with an extra insight for free!
76. If you want your managers to own your strategy, you must involve them in developing it.
77. A great strategy has 3 elements: where you will play, how you will win, and what you’re willing to trade-off.
78. Find new growth by restating your market, eg Apple = “consumer electronic devices”, not “personal computers”.
79. Customers love companies that make them feel better about their life. How does your business achieve that?
80. Like Tour de France victors, top companies make their move on the toughest climbs, not the easy descents.
81. Set a few medium term objectives to share a consistent story, create focus and fast-track growth.
82. Can you describe your strategy in 30 seconds? If not, how do you expect others to ‘get it’?
83. Your strategy should shine a light into the future of your business. People won’t follow you into the dark.
84. “If it ain’t broke, don’t fix it” is the most misguided management aphorism. Be proactive, not reactive.
85. Don’t just focus on the bottom-line. Focus on the key factors that drive your ongoing profit performance.
86. Engagement follows involvement. Are your managers involved in developing the strategies they must deliver?
87. Instead of trying to second-guess market changes, focus innovation on what won’t change – e.g. speed, price.
88. We all make assumptions about how our business succeeds. But how often do you challenge them?
89. How much time do you spend to systematically making it easier for your people to achieve their goals?
90. Momentum is key to organisational confidence and belief. Don’t just protect what you’ve got; keep moving.
91. The secret to success is not to avoid failure but to fail as quickly and as cheaply as you can.
92. Large companies that are good at innovation are remarkable and few. The key is to make it your #1 priority.
93. Don’t blame your budget for inhibiting new growth. There’s always money available if the idea’s good enough.
94. Higher performance standards raise, not lower your organisation’s operational capacity.
95. Customer service can be as critical for a product company as it is for a service business.
96. Spend as much effort on the front-line observing customers as you do reading second or third hand data.
97. You can only change the world through action, not thinking. How are you taking your ideas forward?
98. Innovation is still the key driver of long-term profit growth. How high is it on your agenda?
99. The best companies are those that stay lean in the good times and still invest for growth in the bad.
100. As with your personal health, business success results from effective daily regimes, not a magic pill.
And, last but by no means least…
101. The ultimate question: does your strategy excite you? If not, you’ll never find the energy to deliver it.
© Stuart Cross 2010. All rights reserved.