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: 00:20:50

Introduction

This video provides a template for creating effective business strategies. The speaker, Alex M H Smith, outlines a five-section structure designed to produce a clear, focused, and actionable plan for business growth, emphasizing the importance of a unique value proposition and a compelling narrative.

Key Takeaways

1. Purpose of a Strategy Document: A strategy document clarifies unique value, provides focus, and sets an exciting challenge for the business.
2. Five-Section Structure: The ideal strategy document includes sections on Context, Strategy Argument, How We Must Change, Strategy Statement, and Execution.
3. Strategy Argument: This core section details the status quo, identifies flaws, presents a unique belief, outlines actions to address the flaws, and highlights the resulting customer value. The speaker uses Tesla's strategy as a prime example.
4. Strategy Statement: This concise summary follows the format: "We are the only X (category) that do Y (action), which gives customers Z (value)."
5. Execution: This crucial section details the delivery (operational changes) and communication (marketing, branding, etc.) required to implement the strategy. A strategy is only valid when its effects are visible externally.