Casual Articles - Secret of Strategy - Part 1

I'll bet you think you already have a strategy.

And well you may, but strategy as a concept is just like love: much used and little understood. Many businesses (and that includes small entrepreneurs, large corporations, non-profits, community organizations, governments, NGOs…the works) neither know what strategy really is, nor how to get one.

And even if you do, in fact, have a strategy-is it the right one? The best one? This is so important-marketing guru Jay Abraham says-and I agree-a superior strategy badly executed will beat a bad strategy well executed, any day.

It's easy to say, "This is big company stuff. We know what we need-why should we do all the extra work." While a "strategy-less" group of marketing tactics may work well and produce good results, is it taking your business in the best direction? You may be making money, but are you making the most money possible? Could another suite of tactics implementing a superior strategy produce far better results?

Which brings me to the point of this two-part article: how to formulate strategy. In the next 1500 words, I'm going to present the first half of a basic system for identifying high-impact strategies in your business. (Just the first half? Yes. While I strive to make this as simple as possible, it still takes a bit of explaining, and editors and readers alike detest long articles!) So Part 2 will finish the outline, and in future articles, I will discuss each system component in finer detail.

Let's begin with a working definition of strategy.

Strategy is the guiding principle on which are based a series of interlinked decisions regarding the selection and deployment of resources and tactics, whose purpose is realizing a vision and achieving decisive objectives in a competitive and changing environment.

This definition tells us a few things:

• The purpose of all strategic decisions is achieving your vision and "decisive" or critical-to-purpose objectives.
• Strategy is about selecting specific resources and tactics to get the desired result.
• Strategy is not static; it is decisions in a series, and evolves continuously over time.
• Strategy is broad and all-encompassing. With that in mind, here are the 8 steps to formulating strategy:

Employers and Managers - Five Steps to Greater Employee Profitability
If you do not know right now which of your employees is making money for you, how much they are costing you or whether you're operating profitably, this short article will provide vital information for you.Employees cost huge amounts of money and the stark reality is that unless every employee pays their way a lot of YOUR money could end-up down the drain!!But how do you know which employees are working profitably for you, especially if your employees are spread all over the country or even the world? Indeed some may be frittering away hours (your money) on wasteful activities. For all you know your money could be leaking away drop by costly drop, like water from a dripping tap.So here are five steps you can take very quickly to switch-off that dripping tap!Step 1: MonetiseCalculate the true hourly cost of your employee per hour. You can work out a percentage to add to your employee hourly rate that will cover all the overhead. Examples include a share of office overheads, pension and health care payments, the cost of holidays and sickness (which are non-productive for you but still need to be paid for). Build a list of all costs and include them in the hourly rate.Step 2: MeasureWhat can't be measured can't be improved. The second step is to get your employees to use a timesheet. A timesheet records the number of hours spent on activities. The employee usually has to enter hours into a table cell in a spreadsheet or software form each day. Activities are often grouped in a project. There are many excellent timesheet systems available.Step 3: ReportThe informatioin fact, have a strategy-is it the right one? The best one? This is so important-marketing guru Jay Abraham says-and I agree-a superior strategy badly executed will beat a bad strategy well executed, any day.

It's easy to say, "This is big company stuff. We know what we need-why should we do all the extra work." While a "strategy-less" group of marketing tactics may work well and produce good results, is it taking your business in the best direction? You may be making money, but are you making the most money possible? Could another suite of tactics implementing a superior strategy produce far better results?

Which brings me to the point of this two-part article: how to formulate strategy. In the next 1500 words, I'm going to present the first half of a basic system for identifying high-impact strategies in your business. (Just the first half? Yes. While I strive to make this as simple as possible, it still takes a bit of explaining, and editors and readers alike detest long articles!) So Part 2 will finish the outline, and in future articles, I will discuss each system component in finer detail.

Let's begin with a working definition of strategy.

Strategy is the guiding principle on which are based a series of interlinked decisions regarding the selection and deployment of resources and tactics, whose purpose is realizing a vision and achieving decisive objectives in a competitive and changing environment.

This definition tells us a few things:

• The purpose of all strategic decisions is achieving your vision and "decisive" or critical-to-purpose objectives.
• Strategy is about selecting specific resources and tactics to get the desired result.
• Strategy is not static; it is decisions in a series, and evolves continuously over time.
• Strategy is broad and all-encompassing. With that in mind, here are the 8 steps to formulating strategy:

Have Fire-Drills to Survive Chaos
Back when I was a grade school kid, a couple of times each semester the fire alarms, announcing a firedrill, would shriek. We would all jump up from our desks and march, single-file to our appointed spot outdoors. The goal of those fire drills was to teach students how to react if a disaster struck; instead of the chaos that would occur when hundreds of kids try to escape from a burning building. A safe, orderly evacuation would certainly reduce the number of casualties.In recent years sudden, unforeseen, disastrous events have devastated populations around the globe. Terrorist attacks in New York, London and Madrid, tsunami in Asia, and hurricanes along the gulf coast have all cost individuals, businesses, even whole geographic regions dearly.I’ve seen a number of recommendations to help people prepare for disasters in various media, but every business has to prepare for a disaster also. If a disaster never hits you, be thankful, but if one does occur the business should be able to reopen afterwards if you have spent just a little effort on contingency planning.Naturally your planning should include redundant off-premises backups of all computer files to insure you will be able to resurrect inventory records, bank account records, tax records, accounts receivable, accounts payable, human resources, training manuals, etc. It is also vital to be able to connect with your staff in case of an evacuation or natural disaster. A business that is well prepared for disasters should be able to connect with personnel using multiple methods – cell phone, land line, email, and all the staff should know how to connect we you making the most money possible? Could another suite of tactics implementing a superior strategy produce far better results?

Which brings me to the point of this two-part article: how to formulate strategy. In the next 1500 words, I'm going to present the first half of a basic system for identifying high-impact strategies in your business. (Just the first half? Yes. While I strive to make this as simple as possible, it still takes a bit of explaining, and editors and readers alike detest long articles!) So Part 2 will finish the outline, and in future articles, I will discuss each system component in finer detail.

Let's begin with a working definition of strategy.

Strategy is the guiding principle on which are based a series of interlinked decisions regarding the selection and deployment of resources and tactics, whose purpose is realizing a vision and achieving decisive objectives in a competitive and changing environment.

This definition tells us a few things:

• The purpose of all strategic decisions is achieving your vision and "decisive" or critical-to-purpose objectives.
• Strategy is about selecting specific resources and tactics to get the desired result.
• Strategy is not static; it is decisions in a series, and evolves continuously over time.
• Strategy is broad and all-encompassing. With that in mind, here are the 8 steps to formulating strategy:

The Physics Of Customer Service
That probably sounds a little too technical doesn't it? Does it even make sense? How can physics relate to customer service? It's very, very simple.Every single customer service action can and will lead to a customer reaction.Whenever you deal with a customer service issue, big or small, there will be an outcome. That outcome can be hugely satisfying for both you and your customer or it can be a total nightmare that ends in legal action. The choice is entirely yours. You have TOTAL control over the outcome.We can forget at times that unless we put positive energy into an experience then it's very difficult to get a positive result from that same experience. What I mean is this. If you're snappy, sarcastic and arrogant with customers then you're creating a lot of negative energy in that customers experience with you. How can you possibly expect a positive reaction from the customer? Do you expect positive feedback or good word-of-mouth advertising? Absolutely impossible!If you treat your customer like a human being, speak to them on their own terms and with empathy, compassion and understanding then what would you expect the outcome to be? Of course the customer will think your company is the greatest thing since sliced bread. They'll become a repeat customer AND tell their friends. Your word-of-mouth advertising will be strong and spread rapidly. In short you've taken a step towards building a successful business.The shocking truth is that most companies do not understand this basic rule of customer service. They allow their staff to be rude to customers and then stand there scratching their heads woders alike detest long articles!) So Part 2 will finish the outline, and in future articles, I will discuss each system component in finer detail.

Let's begin with a working definition of strategy.

Strategy is the guiding principle on which are based a series of interlinked decisions regarding the selection and deployment of resources and tactics, whose purpose is realizing a vision and achieving decisive objectives in a competitive and changing environment.

This definition tells us a few things:

• The purpose of all strategic decisions is achieving your vision and "decisive" or critical-to-purpose objectives.
• Strategy is about selecting specific resources and tactics to get the desired result.
• Strategy is not static; it is decisions in a series, and evolves continuously over time.
• Strategy is broad and all-encompassing. With that in mind, here are the 8 steps to formulating strategy:

Somebody - Somewhere - Save Our Business!
You settle down to watch the movie. Aliens have landed – everybody panics and waits for the hero to arrive with a plan to save the planet. Until someone screams, “But he’s on annual leave this week!” We all hope that somebody, somewhere will take care of whatever disasters affect our workplace – fire, flood, burglary etc. Somebody, somewhere must be getting paid to sort all that out, right? Well hopefully. But you too have a big part to play.If someone in your business is working on a business continuity plan they will have started by identifying what the biggest threats are to the most important things the business does. For example if the main building is getting old and prone to power cuts, leaks etc but also happens to house the reception desk, the team that organises customer deliveries and the payroll people…well, there better be a plan. The continuity planner will go through the options: Buy a new building Renovate the old building Separate critical teams out into different buildings Have an alternate location where teams can work if something goes wrong All of the above will have cost and hassle implications. But here’s where you come in. There may well be a plan out there that says in certain circumstances you need to work from home or in another building miles away. The important thing is that you are aware of your role in the business continuity plan. That you know what to do – even if it’s just wait at home until your manager contacts you. (This assumes your manager has your up to date contact details and this little bit is an importanttion tells us a few things:

• The purpose of all strategic decisions is achieving your vision and "decisive" or critical-to-purpose objectives.
• Strategy is about selecting specific resources and tactics to get the desired result.
• Strategy is not static; it is decisions in a series, and evolves continuously over time.
• Strategy is broad and all-encompassing. With that in mind, here are the 8 steps to formulating strategy:

1. Set your vision
2. Gather environmental and competitive intelligence
3. Take stock of your organization's strengths and weaknesses
4. Select your "grand strategy"
5. Establish decisive objectives
6. Rate and rank your "SWOTs"
7. Match your internal and external factors to identify strategic alternatives
8. Select specific strategies for implementation

Of course, there is one last step: turning your strategy into tactics and game plans, and execute. We won't get into that in this article.

Step 1. Establish your vision.

People complicate the idea of vision. A vision is simply a story describing how you want things to be in the future. Some people can tell these stories easily-they know exactly where they want to be and what it will "look" like.

Others need help. The best approach is to answer a series of questions regarding what your organization does, who are it's clients or beneficiaries, what its impact is, how big it is, where it is, how it operates, when all these things will occur, and so on. As a result of answering these questions, your vision will emerge.

Of course, you may already have a vision. If so, now is the time to insure that it is relevant and powerful.

The test of a good vision is if it inspires; not only you and your management team, but all of your stakeholders: your partners, employees, clients, investors, vendors, lenders, your community, your government-and perhaps the public at large. A great vision inspires, and it also provides direction. Every action you take should further your vision. If it doesn't, don't do it.

Step 2. Gather environmental and competitive intelligence.

To develop the best strategies you must understand the world outside your organization. Quantify and qualify, not just absolutes, but trends. And importantly-identify changes in the status quo. Key a

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