When people think of strategy they think of boardrooms and complicated models and charts. Whilst that may be the case in the corporate world, it doesn’t have to be in the small business one.
When I run strategy sessions my clients all I need is a bit their time – usually a couple of hours - and a place to sit down. This can be their office, if they have one. It can also be the kitchen, or a coffee shop. One time it has even been the pub!
I don’t blind clients with complex models and theories either. I simply ask them some straight forward questions that help both structure and widen their thinking on key areas such as who they are targeting and how they can deliver that target audience value in a way that is different or better than their competitors. I then follow up with a clear and easy to digest report with recommendations that are straightforward to action.
In fact, I have been told that bringing the complex down to the everyday is one of the things that makes me special!
So why is taking the time to work on your strategy so important? According to research by the Strategic Thinking institute, a business that has clearly thought through its strategy is likely on average to have a 304% advantage on its profit margin than a business that hasn’t. Similarly, research by Millward Brown of brands over a 10-year period found that brands who do strong advertising but have no compelling value proposition achieved a value growth of just 27% on average. Those without strong advertising but a compelling proposition grew 76%. Those with both grew 168%.
Hopefully, I’ll be seeing you in your office, your kitchen or down the pub soon!
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