Overview, Discussion and
Random Thoughts of Business
Growth Strategies
Our CHARIS Core Values
Continuously Innovating
Hope-giving - Cultivating sustainable and lasting
change in our community
Authentic - Only Passionate, Mission-minded
people
Respectful - Rooted in Grace & Kindness
Integrous - We always do the right thing
Spirited - We love to have Fun
Don’t Teach – Provide a Tool
● "If you want to teach people a new way of thinking,
don't bother trying to teach them. Instead, give
them a tool, the use of which will lead to new ways
of thinking.” - Buckminster Fuller on change
management philosophy
Some Recommended
Tools
● Scaling Up: How a Few
Companies Make It...and Why the
Rest Don't
● Traction: An entrepreneurial
operating system (EOS) for
business. Similar to Scaling Up
but much less complex and easier
to implement.
Recommended
Tools (cont’d)
● Good to Great: Why some
companies make the leap and
others don’t
● Blue Ocean Strategy: How to
create uncontested market space
and make competition irrelevant
Recommended
Tools (cont’d)
● Influencer: The power to change
anything
● The E Myth: The idea of working
on your business and not in it
Recommended
Tools (cont’d)
● The 80/20 Principle: The secret to
achieving more with less
● How to Win Friends and
Influence People: The classic book
on human relations principles
Recommended
Tools (cont’d)
● 7 Habits of Highly Effective
People: Introduces the concept of
paradigm shift and prepares the
reader for a change in mindset.
● The One Minute Manager Meets
the Monkey: How to stop your
subordinates from imposing
unnecessary time demands on
you.
Recommended
Tools (cont’d)
● The Ultimate Sales Machine:
Turbocharge a business with
relentless focus and 12 Key
strategies
● The Book of Proverbs: God’s
wisdom. What more can I say?
Recommended
Tools (cont’d)
● Topgrading: The #1 methodology
for hiring and promoting people.
● Crucial Conversations:
Techniques for communicating
effectively in difficult and
important situations to achieve
positive results.
John D. Rockefeller
John D. Rockefeller
(1839-1937), founder
of the Standard Oil
Company, became
one of the world's
wealthiest men and a
major philanthropist.
Rockefeller’s 3 Core Habits
● Priorities
Rockefeller’s 3 Core Habits
● Data
Rockefeller’s 3 Core Habits
● Rhythm
Priorities
Does the organization have...
● Objective Top 5 priorities
● For the year?
● For the Quarter?
● For the Month (if high growth)
● Have Top 1 priority along with a theme?
● Does everyone have their own handful of priorities
that align with the company’s priorities?
Data
● Does the organization have sufficient data on a
daily and weekly basis to provide insight into
● How the organization is running?
● What the market is demanding?
● Does everyone have at least one daily or weekly
metric driving his performance?
Rhythm
● Does the organization have an effective rhythm of
meetings:
●
●
●
●
●
Daily
Weekly
Monthly
Quarterly
Annual
● These meetings maintain alignment and drive
accountability
● Are they well run and useful?
“x” factor
The one underlying strategy which must be
discovered, defined, and acted upon to create
significant value and significant business valuations.
“x” factor key
Identify the chokepoint in your business
model and industry and then gain control of
that chokepoint
Rockefeller’s “x” factor
● Gaining advantage in transportation costs.
● Even minor decisions aligned with his focus.
● Example: Oak Barrels
The 2 Most Important Decisions
a Business Leader Makes
● Defining a simple long-term vision 10-25 years out;
The 2 Most Important Decisions
a Business Leader Makes
● Deciding on a handful of priorities for the next
quarter;
Strategy MUST pass 2
Tests
● Does what we are planning to do really matter to
our existing and potential customers?
Strategy MUST pass 2
Tests
● Does it differentiate us from our competition?
Strategy Also Asks:
● Do we have the ability to become the best at
implementing this strategy (core competencies)?
Strategy Also Asks:
● Do we have a clear idea whether we really have a strategy
that will work or not?
The 3 Barriers to Growth
● ONE: The need for the executive team to grow as
leaders in their abilities to
●
Delegate
&
Predict
The 3 Barriers to Growth
● TWO: The need for systems and structures to
handle the complexity that comes with growth.
SYSTEMS
STRUCTURES
Note: As Business Expands Complexity
Grows Almost Exponentially
The 3 Barriers to Growth
● THREE: The need to navigate the increasingly
tricky market dynamics that mark arrival in a larger
marketplace.
Mastering the Right People Doing the Right Things - Right
Three Basic Decisions an
Executive Team Must Make
● Do we have the Right People?
Three Basic Decisions an
Executive Team Must Make
● Are we doing the Right Things?
Three Basic Decisions an
Executive Team Must Make
● Are we doing those Things Right?
The Right People
● One GREAT person can replace three good people
The Right People
Philosophy
● Fewer people, paid more and given lots of training
The Right People
● Do I have the right people?
● G2G: Get the wrong people off the bus, the right
people on the bus and the right people in the right
positions.
The Right People Questions
● Do I have the right people?
● “Would I enthusiastically rehire each person on my
team?”
The Right People Questions
● Do they have the potential to be the best in their
position three to five years from now?
The Right People Questions
● Note: Sometimes we have the right person in the
wrong position.
The Right People - Hiring
● Hiring is a numbers game…so interview lots of
people
● Start with a pool of 50 high-quality people.
● Remember that “A” people surround themselves
with “A” people.
● Only go to “A” network of friends for referrals.
● Make sure you are truly selling the company AND
its vision.
The Right People - Hiring
● Interviewing
● Use a behavior-based, structured interview.
● Bradford Smart is the expert here. (Topgrading)
● Testing is more accurate and objective than
interviewing.
● Always use this to supplement interview process.
● Managers & Executives: Bartell & Bartell are the best.
● 814-8610-6606
● Costs $600
● All others: Bigby Havis & Assoc.
● 9720-233-6055
The Right People - Hiring
● Most Important:
● You are trying to discern in the selection process is the
candidates’ fit with our culture.
● Think Core Values
● Test for emotional maturity
● Use a variation:
● Outline on a piece of paper three or four business
challenges we are expecting the candidate to face.
● They have 30 minutes to an hour to work through how
they would handle each.
● Spend 30 minutes working through their solutions.
Right Things Right Model
Illustrates fundamental Decisions, Relationships and Functions of a business
Right Things
● Key Question:
● Do we have a viable
economic model?
● Do we have a product or
service that enough
customers value to make a
viable business?
● Have we determined the X
factor that we can control
that
● Differentiates us from the
competition?
● Matters to customers?
● Provides us an advantage
in the marketplace?
Right Things
● You lead people and manage their activities—you
don't manage people.
● A leader’s success is defined as having satisfied all
three stakeholders.
● Customers (including suppliers)
● Employees (including sub-contractors)
● Shareholders
Things Right
● Key Question:
● Do we have
the
management
practices and
processes to
take advantage
of the market
opportunities
we’re
pursuing?
Things Right
● Do you have the
habits and
disciplines in
place to
maintain your
competitive
advantage?
Things Right
● Is your
organization
structured
properly to
maximize the
productivity of
the employees?
Things Right
● Can you deliver
a consistent
service or
product
offering?
Things Right
● Three fundamental
activities at the heart of all
businesses
● Making or Buying
something
●
Managed by COO
● Selling something
●
Managed by VP Sales &
Marketing
● Keeping Good Records
●
Managed by CFO
● These three leaders serve
under the CEO as their
leader
Note Balance between left
and right…
● Driving revenue VS making sure business profitable
● Having enough people VS enough activities for them
● Protecting firm’s reputation VS Increasing productivity
Using Model with
Habit #1 - Priorities
● Use six circles as potential priorities – choose one on
each side that needs MOST attention
● Remember on Left to specify “get, keep, or grow”
● Remember on Right to specify, “better, faster,
cheaper”
Accountability Key
● Be VERY clear about who is accountable for each
circle in the model
● Who is accountable for customers?
● Who is accountable for making sure the sales engine is
functioning properly?
● Go through each of the six circles and their drivers
(get, keep, grow and better, faster, cheaper)
● Make sure the accountabilities are clear for each.
Using Model with
Habit #2 - Data
● You need metrics about all six areas of business
● Left Weakness: Having same kind of accurate and
timely feedback from customers
● Right Weakness: Having accurate sales funnel data,
sales side tends to resist measurement
Using Model with
Habit #3 - Rhythm
● Use six circles to figure out whom you need to have various
weekly meetings.
● Left: Executive team must have rhythm in terms of meeting
with customers & employees.
● Right: Crucial for operations, sales & accounting each has its
own daily & weekly rhythms.
Using Model with
Organizational Structure
● Six circles provide guidance for the changing
organizational structure necessary to handle growth
Summary: Right People Doing
the Right Things Model
● Encompasses the fundamental decisions leaders
must make to successfully drive any business.
One Page Strategic Plan
● To become and remain competitive, we need three
things:
● A framework that identifies and supports our
corporate strategy
● A common language in which to express that strategy
● A well-developed habit of using this framework and
language to continually evaluate our strategic
progress
Planning Pyramid
"I keep six honest serving men, they taught me all I
knew:
their names are What and Why and When and How
and Where and Who.”
- Rudyard Kipling
Planning Pyramid
● Graphically
depicts how
the various
vision pieces
align,
establishing a
common
strategic
language that
is easy to use
and eliminates
confusion.
Core Values
Like the US Constitution or ten commandments, core
values are 5 or 6 statements which answer the question
"SHOULD we or SHOULDN'T we." They are
discovered over time and last And they tend to be
different for each business, defining what is often
called the corporate culture. At 3M, one of their core
values is innovation. If they can't be innovative in a
business area, they'll not do it or get rid of it. Jim
Collins' "Mars" exercise helps discover core values.
Core Purpose
This is a philosophical statement about WHY you're in
business and is determined by your leader's particular
reason for having passion for the business. Patagonia's
(outdoor clothing) founder once exclaimed "Let my
people surf" and that became their purpose statement.
It says a lot about the founder's philosophy and style.
The core purpose puts "heart" into the business.
BHAG
In addition, the business should be pursuing a Big
Hairy Audacious Goal (BHAG). It should be a
quantifiable pursuit with a 10 to 25 year horizon that is
audacious but not braggadocios and reinforces
fundamentals. Microsoft's pursuit of being on every
desktop is an example.
Targets
The target level answers the question "WHERE you
want the firm to be in 3 to 5 years." Besides deciding
certain quantifiable targets, a firm should define the
Sandbox in which the company chooses to play, so
that it can be #1 or #2. The Sandbox definition
includes the firm's expected geographical reach,
product/service offering, and expected market share.
Xerox changed their tag-line to "The Document
Company" to signify a change in Sandbox focus from
being a copier equipment seller to document
management.
Brand Promise
A clearly articulated key need you're going to satisfy
for your customers.
Alternatively called a value-added proposition or
differentiator.
Finally, define five or six Key Thrusts/Capabilities
necessary for you to dominate your defined Sandbox,
fulfill your Brand Promise, and meet your quantifiable
Targets.
Goals
These say WHAT the firm has to do this year in order
to be what was defined on the Target level. Like New
Year's resolutions, they are defined annually. The key
is defining five or six key initiatives for the year.
Answer the question "If we get these five or six things
accomplished, we'll meet our annual goals." In
addition, choose one or two critical numbers - ideally
one off the income statement and one off the balance
sheet - on which the firm will focus. These critical
numbers define the biggest opportunity for providing
positive impact on the firm.
Action Plans
These describe HOW, on a quarterly basis, you're
going to accomplish your annual Goals. Think of these
as 13 week MISSIONS (this is how we define mission).
Besides setting specific quantifiables for the quarter
and one or two critical numbers, you need to define
five or six key "rocks" that have to be completed in
order to accomplish the goals. In addition, a quarterly
or annual theme should be established, complete with
a key measurable goal, theme title, company-wide
scoreboard, and defined celebration/reward.
Schedule
This sets deadlines WHEN we're going to complete
certain actions . Nothing will ever get accomplished
until it makes someone's weekly to do list. The idea is
to take the 13 week actions and put together a weekto-week plan on how they'll get accomplished, so that
everyone knows what they need to do. We encourage
firms to move their thinking from a monthly rhythm
(A/R deadlines, billing cycles, sales targets) to a
weekly or daily rhythm.
Accountability
This names WHO is going to be sure a particular
activity is going to be accomplished. These last four
levels essentially define WHO has to do WHAT
WHEN and HOW in order to get things accomplished
in the organization. And it's important to understand
the difference between accountability and
responsibility. Many might be responsible for getting
something done (creating a new product), but only
one person can have accountability. If the buck doesn't
stop somewhere with a single person for every
activity, then it's likely not to be completed or
completed well. "Who owns the outcome?"
Right People Right Things
Right Framework
By: W. Chan Kim & Renee Mauborgne
Summary by: Jesse Starmer
COM 459
Value Innovation
Value innovation is
created in the region
where a company’s
actions favorably affect
both its cost structure and
its value proposition to
buyers. Cost savings are
made by eliminating and
reducing the factors an
industry competes on.
Buyer value is lifted by
raising and creating
elements the industry has
never offered. Over time,
costs are reduced further
as scale economies kick in
due to the high sales
volumes that superior
value generates.
Costs
Value
Innovation
Buyer Value
Red Ocean Versus Blue Ocean Startegy
In the red ocean, differentiation costs because firms compete with the same best-practice principle.
Here, the strategic choices for firms are to pursue either differentiation or low cost. In the
reconstructionist world, however, the strategic aim is to create new best-practice rules by breaking
the existing value-cost trade-off and thereby creating blue ocean.
Red Ocean Strategy
Blue Ocean Strategy
Compete in existing market space.
Create uncontested market space.
Beat the competition.
Make the competition irrelevant.
Exploit existing demand.
Create and capture new demand.
Make the value-cost trade-off.
Break the value-cost trade-off.
Align the whole system of a firm’s
activities with its strategic choice of
differentiation or low cost.
Align the whole system of a firm’s
activities in pursuit of differentiation
and low cost.
The Six Principles of Blue Ocean Strategy
This figure highlights the six principles driving the successful formulation and execution of blue ocean
strategy and the risks that these principles attenuate.
Formulation Principles
Risk factor each principle attenuates
Reconstruct market boundaries
Focus on the big picture, not the numbers
Reach beyond existing demand
Get the strategic sequence right
•Search risk
•Planning risk
•Scale risk
•Business model risk
Evaluation principles
Risk factor each principle attenuates
Overcome key organizational hurdles
Build execution into strategy
•Organizational risk
•Management risk
Strategy Canvas
The strategy canvas is both a diagnostic and an action framework for building a compelling blue ocean
strategy. It captures the current state of play in the known market space. This allows you to understand where
the competition is currently investing, the factors the industry currently competes on in products, service, and
delivery, and what customers receive from the existing competitive offerings on the market. The horizontal
axis captures the range of factors the industry competes on an invests in. The vertical axis captures the offering
level that buyers receive across all these key competing factors. The value curve then provides a graphic
depiction of a company’s relative performance across its industry’s factors of competition.
High
Lo
w
Price
Wine range
Vineyard prestige
Use of Above-the-line
enological marketing Aging and legacy Wine
quality
complexity
terminology
Four Actions Framework +
Eliminate/Reduce/Raise/Create Grid
Reduce
The four actions framework offers an
technique that breaks the trade-off between
differentiation and low cost and to create a
new value curve. It answers the four key
questions of what industry takes for granted
and needs to be eliminated; what factors need
to be reduced below industry standards; what
factors need to be raised above industry
standards; and what should be created that the
industry has never offered.
Eliminate
Enological terminology and
distinctions
Raise
Price versus budget wines
Retail Store involvement
Aging qualities
Above-the-line marketing
Reduce
Wine complexity
Create
Easy drinking
Wine range
Ease of selection
Vineyard prestige
Fun and adventure
Which factors should be
reduced well below industry
standards?
Eliminate
Which of the factors
that the industry takes
for granted should be
eliminated?
A
New
Value
Curve
Create
Which factors should be
created that the industry
has never offered?
Raise
Which factors should
be raised well above the
industry’s standard?
The eliminate-reduce-raise-create grid pushes
companies not only to ask all four questions in
the four actions framework but also to act on all
four to create a new value curve. By driving
companies to fill in the grid with the actions of
eliminating, reducing, raising, and creating, the
grid provides four immediate benefits: it pushes
them to simultaneously pursue differentiation
and low costs; identifies companies who are only
raising and creating thereby raising costs; makes
it easier for managers to understand and comply;
and it drives companies to scrutinize every factor
the industry competes on.
Four Steps of Visualizing Strategy
The four steps of visualizing strategy builds on the six paths of creating blue
oceans and involves a lot of visual stimulation in order to unlock people’s
creativity. The four steps include visual awakening, visual exploration,
visual strategy fair, and visual communication.
1.
Visual
Awakening
•Compare your
business with your
competitors’ by
drawing your “as is”
strategy canvas.
•See where your
strategy needs to
change
2.
Visual
Exploration
3.
Visual Strategy
Fair
•Go into the field to
explore the six paths to
creating blue oceans.
•Draw your “to be” strategy
canvas based on insights
from field observations.
•Observe the distinctive
advantages of
alternative products and
services.
•Get feedback on
alternative strategy
canvases from customers,
competitors’ customers,
and noncustomers.
•See which factors you
should eliminate,
create, or change.
•Use feedback to build the
best “to be” future strategy.
4.
Visual
Communicatio
n
•Distribute your beforeand-after strategic profiles
on one page for easy
comparison.
•Support only those
projects and operational
moves that allow your
company to close the
gaps to actualize the new
strategy.
Pioneer, Settler, Migrator Map
Pioneers
Migrators
Settlers
Today
Tomorro
w
A corporate management
team pursuing profitable
growth can plot the
company’s current and
planned portfolios on a
pioneer-migrator-settler
(PMS) map. This strategy
can help a company
determine which
businesses experience the
highest and lowest
growth and cash flow.
These are classified
accordingly with the
highest growth potential
being pioneers, then to
migrators, then to the
lowest rung, settlers.
Three Tiers of
Noncustomers
There are three tiers of
noncustomers that can
be transformed into
customers. They differ
in their relative
distance from your
market. The first tier of
customers minimally
buy an industry’s
offering out of
necessity. The second
tier of noncustomers
refuse to use your
industries offerings.
The third tier are
noncustomers who
have never thought of
your market’s offerings
as an option.
First
Tier
Your
Market
Second
Tier
Third
Tier
Sequence of Blue Ocean Strategy
Buyer utility
An important part of blue ocean
strategy is to “get the strategic
sequence right.” This sequence
fleshes out and validates blue
ocean ideas to ensure their
commercial viability. This can then
reduce business model risk. In this
model, potential blue ocean ideas
must pass through a sequence of
buyer utility, price, cost, and
adoption. At each step there are
only two options: a “yes” answer, in
which case the idea may pass to the
next step, or “no”. If an idea
receives a no at any point, the
company can either park the idea
or rethink it until you get a yes.
Is there exceptional buyer utility in your
business idea?
No-- Rethink
Yes
Price
Is your price easily accessible to the
mass of buyers?
No-- Rethink
Yes
Cost
Can you attain your cost target to profit
at your strategic price?
No-- Rethink
Yes
Adoption
What are the adoption hurdles in
actualizing your business idea? Are
you addressing them up front?
Yes
A Commercially
Viable Blue Ocean
Idea
No-- Rethink
Buyer Utility Map
The buyer utility map helps managers look at this issue from the right perspective. It outlines all the levers
companies can pull to deliver exceptional utility to buyers as well as the various experiences buyers can have
with a product or service.
The Six Stages of the Buyer Experience Cycle
The Six Utility Levers
Customer
Productivity
Simplicity
Convenience
Risk
Fun and
Image
Environmental
friendliness
1.
2.
3.
4.
5.
6.
Purchase
Delivery
Use
Supplements
Maintenance
Disposal
Buyer Experience Cycle
A buyer’s experience can usually be broken into a cycle of six stages, running more or less sequentially from
purchase to disposal. Each stage encompasses a wide variety of specific experiences. At each stage, managers
can ask a set of questions to gauge the quality of buyer’s experience.
Purchase
Delivery
How long does it
take to find the
product you
need?
How long does
it take to get
the product
delivered?
Is the place of
purchase
attractive and
accessible?
How difficult
is it to unpack
and install the
new product?
How secure is
the transaction
environment?
Do buyers
have to
arrange
delivery
themselves? If
yes, how costly
and difficult is
this?
How rapidly can
you make a
purchase?
Use
Does the product
require training or
expert assistance?
Is the product easy to
store when not in
use?
How effective are the
product’s features
and functions?
Does the product or
service deliver far
more power or
options than required
by the average user?
Is in overcharged
with bells and
whistles?
Supplements
Do you need other
products and
services to make this
product work?
If so, how costly are
they?
How much time do
they take?
How easy are they
to obtain?
Maintenance
Disposal
Does the product
require external
maintenance?
Does use of the
product create
waste items?
How easy is it to
maintain and
upgrade the
product?
How easy is it
to dispose of the
product?
How costly is
maintenance?
Are there legal
or
environmental
issues in
disposing of the
product safely?
How costly is
disposal?
Uncovering Blocks to Buyer
Utility
Uncovering blocks to buyer utility can identify the most compelling hot spots to unlock exceptional utility. By
locating your proposed offering on the thirty-six space of the buyer utility map, you can clearly see how, and
whether the new idea not only creates a different utility proposition from existing offerings but also removes the
biggest blocks to utility that stand in the way of converting noncustomers into customers.
Purchase
Delivery
Use
Supplements
Maintenance
Disposal
Customer Productivity:
In which stage are the biggest blocks to customer productivity?
Simplicity:
In which stages are the biggest blocks to simplicity?
Convenience:
In which stage are the biggest blocks to convenience?
Risk:
In which stage are the biggest blocks to reducing risks?
Fun and Image:
In which stage are the biggest blocks to fun and image?
Environmental
Friendliness:
In which stage are the biggest blocks to environmental friendliness?
Price Corridor of the Mass
This tool helps managers find the right price for an irresistible offer, which, by the way, isn’t necessarily the lower
price. The tool involves two distinct buy interrelated steps. The first step involves identifying the price corridor
of the mass which deals with customer price sensitivity and pricing strategies of products offered outside the
group of traditional competitors. The second step deals with specifying a level within the price corridor which
factors in legal protection and exclusive assets.
Step 1: Identify the price corridor
of the mass.
Step 2: Specify a price level within the
price corridor.
Three alternative product/service types:
Same
form
Different form,
same function
Different form and
function, same
objective
High degree of legal and resource
protection
Difficult to imitate
Price Corridor
of the Mass
Mid-level pricing
Some degree of legal and resource
protection
Low degree of legal and resource
protection
Easy to imitate
Profit Model of Blue Ocean Strategy
The Strategic Price
The profit model of blue
ocean strategy shows how
value innovation typically
maximizes profit by using
the three levers of strategic
price, target cost, and
pricing innovation.
The Target Profit
The Target Cost
Streamlining and Cost
Innovations
Partnering
Pricing Innovation
Blue Ocean Idea Index
The blue
ocean idea
index is a
simple but
robust test
demonstrating
how the
sequence of
utility, price,
cost, and
adoption form
an integral
whole to
ensure
commercial
success
through blue
ocean
strategy.
Philips Motorola
Iridium
CD-i
Utility
Price
Cost
Adoption
DoCoMo
I-mode
Japan
Is there exceptional utility? Are there
compelling reasons to buy your offering?
-
-
Is your price easily accessible to the
mass of buyers?
-
-
+
Does your cost structure meet the target
cost?
-
-
+
Have you addressed adoption hurdles up
front?
-
+/-
+
+
Strategy Canvas
● Provides a simple way of visualizing how your competitors
attract customers, and/or how your customers choose the
product or service they buy in your category.
● This allows you to differentiate yourself by choosing a
different combination of factors on which to compete.
● Examples
● SWA - competing with automobile, not other airlines
● Cirque de Solei – competing with restaurants & theater, not other
circuses
● Yellow Tail – competing with beer & hard liquor, not other wines
Strategy Canvas: Example
Creating a Strategy Canvas
● Identify the Competition
● Identify the factors of competition
● Evaluate the competition
● Chart your competitive differentiation
Creating a Strategy Canvas:
Identify the Competition
● Either identify them by name
● Or cluster them into semi-homogeneous groups
● Remember to look at the problem from the
customer’s perspective
● Who or what else could satisfy the customer’s needs?
● Had SWA not done this they would have just listed
other airlines and missed the fact that customers are
choosing between flying and other modes of
transportation
Creating a Strategy Canvas:
ID the Factors of Competition
● these include
● the price, meals, lounges, seating choices, etc
● Easiest way: Go out and talk to your customers
● Remember, it is important to speak to people who
● already buy your product and service,
● people who buy it but from your competitor, and
● people who don't yet buy your product and service but
might in the future (especially if your strategy is successful).
● And don't forget that people don't always know what
they want, so you may need to get a little creative in
order to find out.
Creating a Strategy Canvas:
Evaluate the Competition
● Map your new strategy onto the Canvas.
● The objective is to chart a line which is substantially
different to the lines of any of your
competitors/groups. That difference, that unique
blend of competitive factors, is your competitive
differentiation.
● Remember: You must pick a combination that a
sufficient number of your target customers will find
compelling, in order to sustain your commercial
objectives. You will undoubtedly have to dig deep
into your box of other strategy tools to do so.
Creating a Strategy Canvas:
Chart Your Competitive Advantage
● Draw the actual chart
● Consider each of team member drawing their own
canvas and then compare in terms of
● the competitors/groups they select;
● the factors they consider important, and;
● how they rate the competition
● Don’t forget: you can also ask your customers
directly, just by talking to them or using a variety of
research techniques, to get a more accurate and
objective picture.