Focus Your Strategy
Harvard Business School Professor and leading expert on strategy Michael Porter said, “the essence of strategy is choosing what not to do.”
With a well-defined core, knowledge of your playing field and a prioritized list of Growth Opportunities the last thing left to do, the thing that truly makes this an Effective Growth Strategy™ is to Focus your Strategy.
For any business unit or product line, you should have at least two (2), but no more than three (3) options to focus on in your growth strategy. Having only one (1) means there is no next while having more than three (3) means you are spreading yourself too thin.
Once you have your focus defined, identify what is the next thing you need to do with regards to the opportunity, who owns it and when is that due. This puts the beginning of an action plan in place.
Building a full 90-day Action Plan for each initiative that you can track is even better.
Want to learn more ways to help focus your strategy and determine with Growth Opportunities you should focus on? Schedule a call.