Beating Competitors with the Winner’s Profile

The Winner’s Profile is one of my favorite exercises in the Simplified Strategic Planning process.  In it, you identify the key attributes that will make your company a clear winner in the long term. The Winner’s Profile is a visionary conclusion to the assumptions portion of the planning process and a beginning of strategy formulation.  […]

Why Strategic Planning?

Rapidly Changing Competition – How To Deal with It

Rapidly Changing Competition There is one consistent message I hear from CEOs all over the world.  Competition is tough and getting tougher.  But what, exactly, does that mean?  Does it mean there are more competitors, or that competitors have more resources than they did in the past?  Or does it mean something completely different? The […]

How Generic Strategies Kill Your Profit

By pursuing a simple, generic strategy, many companies think they can make more money – but exactly the opposite is true.  This approach can wreck your business. One of the ways of thinking I’ve encountered in strategic planning is based upon the desire to make things easier.  For example, companies automate processes to make things […]

Changing Threats to Opportunities

Changing Threats to Opportunities can Lead to Game-Changing Innovation In strategic planning, we consider opportunities, and scary things, like threats.  Some of the best innovations come from changing threats to opportunities.  Game-changing innovation that transforms an industry and stymies the competition can come from serious threats. Examples of changing threats to opportunities First, one client, […]

Differentiating a Price Sensitive Product to a Value-Added Product

Price sensitive products – how can you differentiate? When you’re selling price sensitive products, find a way to add value, so your customers will pay a premium.  Understand your customers’ needs and preferences, however, and understand what you can do to improve your products and services. Standard Textile was faced with this dilemma – in […]