Do you have an over-arching strategy for your business? Today, Roland helps us to think along these lines as we get to hear him talking to his exclusive mastermind at WarRoom. Listen in for the questions you need to be asking and for the filter you need to run new ideas through.
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“Once you have an overarching strategy, you need to run it through a filter to see if it will best serve you.” Roland Frasier
Questions To Ask About Your Strategy
- Will it help you beat your competitors?
- Will it address the threats of potential substitutes and new entrants?
- Does your strategy leverage your competitive advantages?
- Does it get granular enough with your competitive segment?
- Is my strategy trend informed?
- In regards to consumer behavior?
- In regards to resource allocation?
- In regards to your product lines?
“The list is long of really smart people with really successful businesses that didn’t think about whether their strategy addressed new entrants and potential substitutes.” Roland Frasier
References Mentioned in this episode:
McKinsey Quarterly
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