Several times a year, most consultants and academics develop new tools to help businesses understand strategy. These are incredibly smart people, and they all make very valid points. In fact, many times these newly developed tools can lead to successful strategies.
However, there is one huge drawback…
These new tools can also add on a new layer of confusion and information overload that entrepreneurs or business owners have to deal with.
“So where does one start when it comes to the right strategy? How does one choose? What advice should be taken seriously? What’re the best techniques? Which approach is the smarter approach?”
Is the best strategy the one that belongs to an executive with 30 years of corporate experience or the one used by a young entrepreneur who sold three companies before he reached the age of 30?
All of these questions are very common ones, and very important ones to ask. The trick is getting the right answer when it comes to the right strategy for YOUR business (not someone else’s business).
Right now, there are literally 20,000+ book titles listed on Amazon.co.uk under “Strategy Management”. Also, when you research websites under the same category online, you’ll not only find a wide range of websites that contain conflicting information, but also a lot of big promises and sales pitches selling the “Best” guides on finding and implementing the right business strategy.
Two Common Business Leaders and Their Views on Strategy
I can tell you from my own experience that there are at least TWO types of business leaders that are not very fond of the big “S” word (Strategy)…
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Business Leader Type A:
This leader is one who is scared to death of strategy. It’s too big and overwhelming to them, so they ignore it. This same type of leader may also deeply believe that their current plan is their strategy (even though this is not true). Deep down, these leaders know that they need a rock-solid strategy, but they’re too afraid to tackle it. They don’t know how to even begin thinking about it, let alone figuring out how to start with a proper and effective business strategy.
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Business Leader Type B:
This leader is typically an entrepreneur who doesn’t fully appreciate the role (and effect) that a solid strategy can have in overall business success. They deeply believe that strategy is a waste of time, and that their time and energy is best spent on other tasks. They’d instead focus on operations or negotiate new deals with a supplier vs developing and implementing a long-term strategy for lasting success.
The Beginning Catalyst of The DARE Strategy
I decided to launch the DARE Strategy the day I realised that all types of business leaders and entrepreneurs who wanted to achieve lasting and sustainable success needed an effective strategy and strategic planning that went well beyond typical Facebook or Google Ads.
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The biggest mistake I’ve seen is that most of these business leaders put the cart before the horse.
They spend massive amounts of money on ads before actually having an underlying working strategy in place. When a business owner fully understands what they’re selling, as well as knowing their target market inside and out (and knowing WHY they want to buy), then success usually follows.
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Another huge reason to have an effective strategy in play? Competition.
When you have a deep understanding of not only your own company and products/services, as well as your target market AND your competition, then you’ve covered all your bases to put yourself on the right path to success.
The truth is, in today’s world everything is changing and advancing at lightning speeds unlike we’ve ever seen. This is true for socio-economic, technological and even geopolitical areas in the world. In business, if you don’t change with the tides, you’ll sink. When your values shift, so will your mindset (or they should).
What was commonplace and worked amazingly well just a few years ago may not work at all now. That’s why it’s vital that in today’s fast-changing world that you learn how to spot opportunities and act on them. Change should be embraced, not feared. When a business leader or hungry entrepreneur can adapt and change with the times instead of resisting the change, they’ll put themselves in the driver’s seat to success.
Why Time + Mindset Are Your #1 Allies
To adapt, one must not wait. Time is the most critical element at hand. You just don’t have time to research and read various strategy models, matrices or even have time to “test drive” them. You do that, and you’ll lose every single time while your competition zooms right past you into more profits.
It’s essential that you change your mindset when it comes to thinking about your own business. What you need is a strategic mindset that can encompass and implement 50 strategic models all at one time. This entire mindset should become second nature, like driving a car or riding a bike. It must become a reflex. It must become an automatic navigation system that helps you move from point A to point E in a seamless and nearly effortless way without thinking “I need to turn left here, and then take this action here”.
“A great strategy is one where new breaking developments or trends don’t sneak up and take you by surprise, leaving you flustered and frustrated. A solid strategy becomes a buffer to these types of things, and helps you naturally cope with change and uncertainty.”
As a hungry entrepreneur or driven business leader, you need absolute crystal-clarity about how you’re running your business from the ground up. And above all, you need to fully understand how you should run your business to leave enough room for it to grow and scale to the levels you truly desire. When you have these insights about what your business is and how it runs, it’ll create the momentum and empowerment you need to power forward to lasting success.