Strategy could be seen as one of the most over utilized and under delivered terms in business today. Every business journal, online blog, and marketing company boasts articles on their point of view towards business strategy which makes sense but the overuse of the word isn’t just tied to online articles. Strategy now applies to planning meetings, business plans, and brainstorming meetings and thinking. It would seem one can’t be ahead or credible in the business world until you have a strategy or strategic approach but does everything REALLY need strategy?


There are many reasons why most people may struggle with strategy but it all comes down to a simple idea, clarity. There is no one real understanding of what strategy is.


Let’s look at a “strategic plan,” for instance. Most of the time this phrase gets used its unclear whether this includes an actual strategy, which includes where we want to play, target markets, approach, resources, and other factors or a plan with tactics and outcomes. For this reason alone the term can get a bit cloudy.

Consider the waste of time and effort, leading to organizations full of misguided but nodding heads. the only result is flurry of busy action – in different directions and with no progress.

We’re all too busy to be creating confusion for each other. We should stop this by starting to do these three things to create a stronger, more unique strategy in our business:

  1. Have a shared definition of “strategy.” Be specific.  Only use “strategy” and “strategic” deliberately. Make sure to know the difference between asking for a plan versus asking for a strategy. Don’t dress something up to make it more appealing. Call it what it is.
  1. Call a “plan” a “plan.”  W Intricately diversify a strategy from a plan. Make each of the directions extremely clear including execution. People can get behind a plan because they understand actions and outcomes. Strategy however is a goal, such as being the fastest at X or best known for Y. Clarity brings results.
  2. Red flag: Is it really strategic?Once again clarity is key. The minute the word strategic is put in front of you, you should empower yourself to ask how this is strategic. Know the expectations, how the said item will be different because it is strategic, and what your role is now that strategy is involved. Do your homework.
  1. Simplicity as a strategy. If something is simple, don’t muddle it and make it more intricate just for the sake of doing so. Know what sets you apart but also know that innovation can be extremely basic and still stand out.
  1. Niche marketing is your friend.If you’re able to identify a segment of your market that is under-served and go after them aggressively than do it. Don’t wait for them to come to you, be proactive and let them know they need you before they identify the need. Adding this to your strategy can set you ahead of the competition by putting you in front of a market that may not yet completely exist.
  1. Create a detailed customer/consumer experience.Today’s customer/consumer is all about experience. The more immersed in your brand they are able to be the more they will relate. Create an app, add more detail to your website, host an event, whatever you are able to do within your means do it.
  1. Let The M David Katz Company help you build your strategy. We are committed to strategic growth that clearly identifies ideal markets, that has an aggressive plan to capitalize on those markets, and utilizes sustainable systems to achieve long-term, scalable, unparalleled growth.