Should You Change Your Business Strategy?

In the last post, we said that you have two basic strategy choices: Compete on cost – be the lowest cost provider in your market Complete on differentiation – offer something your competitors do not. If you are competing on cost, it is a race to the bottom...

How Do You Develop A Strategy For Your Business?

According to Porter, “The essence of strategy is choosing to perform activities differently than rivals do”. We used this definition to make the case for why you need a strategy. If you are not performing activities differently than your competition, you really don’t...

Does Your Business Really Need A Strategy?

The short answer is, “yes” and even more so if you expect to be in business for a long time. Taking the definition from an earlier blog post, let’s define strategy again. According to Porter, “The essence of strategy is choosing to perform activities differently than...

Is Vision Different from Strategy?

So much has been written about the importance of “vision”. People like Elon Musk and Jeff Bezos are called “visionaries” So what is vision and is it really that important?  Think of vision as a picture you paint of the future. The best visions bring clarity and help...