Strategy is the process of identifying a unique position, whether in a simple card game or in the marketplace, that may allow you to gain an edge. Hopefully, this edge will result in a win at the end of the day! So, you have to focus on three things to increase the odds of a winning situation:
1) Is there a unique opportunity?
2) Do you have the means to chase the opportunity?
3) If yes is the answer to 1 & 2, then formulate a plan of attack and go for it!
Does a strategy require creativity? Innovative thought? Intuition? Absolutely, yes. Creatively looking at a situation can certainly can pay dividends. This idea is visited time and time again in many of the blogs I’ve visited. I’ve seen folks advocate for wild brainstorming. Others have proposed that defining strategy is almost entirely a creative process. I’ve even seen comments advising to worry about analysis later on down the road or even downplaying it. However, I think this can be unwise advice.
Defining your strategy and the means to accomplish it requires clarity. Seeing the big picture and challenging conventional ideas can be a crucial activity, but analysis must not be discounted. The best idea in the world won’t get off the ground without a dose of reality.
Analysis brings priorities into focus. Truly evaluating the market as well as possible competitor(s) responses only come by means of a measured process. Likewise, some organizational introspection to recognize available resources and opportunity costs are just as important. If your report card looks good, all that is needed is a well formulated plan to set things into motion.
So, dream big! It can be like the wind filling a sail. Only, that proverbial sail is built by analysis. Just remember, you need both to increase your odds of success.
It’s your move. Make it a great one!