Scaling Up: Strategy
Can you state your company’s strategy simply and is it driving sustainable revenue growth?
Your strategy should define your unique and valuable position in and it should drive sustainable revenue growth.
Strategic direction can be determined by defining your “Hedgehog” as explained by Jim Collins in “Good to Great’. The Hedgehog Concept captures and blends three key elements (Purpose, Competencies & Profit/X) that, when combined, establishes the foundations of your long-term strategy.
Strategic clarity is vital to achieving high levels of A Player engagement and your Hedgehog tells your strategy story. It defines the fundamentals of your growth plan and explains which levers can be pulled to accelerate growth.
Coupling your Hedgehog with clearly defined Strata of Strategy positions your business to achieve sustainable revenue growth.
The Strata of Strategy describes several critical elements that amplifies your sales and marketing strategy including:
- Core Customer
- Customer Needs
- Differentiating Activities/Unique and Valuable Position
- Brand Promise and metrics
- Brand Promise Guarantee
- X Factor
- Words you Own
- One Phrase Strategy
A clearly defined Hedgehog and Strata of Strategy will help you articulate your growth strategy, achieve alignment across the business and harness the energy and intelligence of your team to help you drive towards your BHAG.