How to Write a Business Strategy (that isn't BS)

About this Video

• Video Title: How to Write a Business Strategy (that isn't BS)
• Channel: Alex M H Smith
• Speakers: Alex M H Smith
• Duration: 20:50

Introduction

This video provides a step-by-step guide on creating a practical business strategy. The speaker, drawing from experience writing strategies for various businesses, outlines a five-section template designed to produce a clear, focused, and effective blueprint for business growth. The emphasis is on creating a narrative-based strategy, rather than a technical document.

Key Takeaways

1. Purpose of a Strategy Document: A strategy document clarifies unique value proposition, provides organizational focus, and establishes a challenging, aspirational goal.
2. Five-Section Template: The recommended template includes: Context (setting the scene), Strategy Argument (the core narrative), How We Must Change (adapting the business), Strategy Statement (concise summary), and Execution (action plan).
3. Strategy as Storytelling: The video emphasizes framing the strategy as a compelling narrative, making it more accessible and memorable for the entire team and external stakeholders.
4. Identifying Category and Unique Belief: Defining the business's category (from the customer's perspective) is crucial for identifying weaknesses and formulating a unique value proposition that differentiates the business.
5. Execution is Key: A strategy only truly exists when its actions are visible and implemented, leading to tangible results observable by external parties.