How to create your strategic business overview in 6 steps

Building a clear strategy is hard. Maybe, just maybe–it doesn’t need to be.

I've always found conversations around strategy hard. Endless board meetings. Strategy sessions. Strategic budgeting.

And ideation marathons–don't ask!!

Surely, there's another way? 

Synthesizing traditional and modern strategy thinking provides a framework that simplifies the ask.

Our M√6 approach splits the strategy into:

1. Mine

2. Market

3. Model

4. Monetization

5. Marketing

6. Moat

A business must first decide which mineral it will mine.

Which well it will draw from, so to speak—the core capital of the business.

Financial, relational, intellectual, physical, and human capital form the critical inputs into the mine section.

The market defines your vector of attack. Ideally, in the early stages, this will be a specific vertical target rather than a broad horizontal.

Rather than an email service provider–how about–the email service provider for creators (thanks Convertkit!) 

The business model comes next.

Many a good product or company has gone to the wall in search of a viable business model.

The ability to consistently deliver a value proposition to customers is an excellent foundation and now represents tables stakes for success.

Monetization is where the action's at.

Naturally–I would say that as I'm all about ‘monetization’.

There is no right or wrong answer–just value capture options.

The example of file storage indicates different monetization–value capture models on what is ostensibly the same product. 

WeTransfer, Box, and Dropbox all deliver file storage and file transfer as a product.

WeTransfer principally monetizes through advertising, whereas Dropbox and Box value capture through consumer and business enterprise subscriptions, respectively. 

≤≤Same product. Different value capture models≥≥

Marketing is perhaps the most confusing of all the success disciplines. And yet, borrowing from the wise words of Seth Godin–marketing is simply the communication of value.

No hard sell. No trying to hoodwink the buyer. Just simple communication. 

–"If you're trying to achieve X or avoid Y–then we have something that we think will help you."

Warren Buffett loves a good moat. And so you should too! In days gone by–this deep, broad ditch–acted as a decent defence against a surprise attack. In business, the same holds. 

From the super successful Peter Thiel to the avant-garde Ideapreneurs such as Jack Butcher and David Perell leading the niche thyself charge, the monopoly is back in vogue, baby!

–Get yourself one today, before they run out!! 

So there you have it. An overview of the six key strategy steps you’ll need for success.