Practice Makes Profit: value chain tool

Strategy: The Art of Shaping the Future

In this episode, Rich sits down with renowned strategist, psychologist, and innovation expert Dr. Max McKeown. As the author of The Strategy Book, SuperAdaptability, and several other bestsellers, Max brings a uniquely creative lens to the world of strategic thinking — blending research, live visual art, and a deep appreciation for paradox.

Together, Rich and Max explore what strategy really is, how imagination fuels innovation, and why developing a rhythm to your strategic work is essential in today’s ever-changing world. With insight, humor, and sharp metaphors, this episode offers a powerful reframing of how leaders can shape the future.

If you're looking to reconnect with the why behind your strategy — and equip yourself with creative tools to thrive — this episode is for you.

🔑 Key Quotes:

“Strategy is about shaping the future.”
“Strategy is everything you need to get to where you want to go. Strategy is everything — but everything is not strategy.”
“One organization I'm thinking about has a strategic rhythm to their work… slow, slow, quick, quick, slow.”
“I define innovation as being practical creativity — making new ideas useful.”

⏱️ Timestamps:

(00:00) Deep Dive Interview with Dr. Max McKeown
(1:00:45) Practice Makes Profit
(1:04:24) League of Strategic Minds
(1:06:10) Winsights: Ideas for Advantage

💰 Practice Makes Profit:

In this segment, Rich highlights the value chain as a powerful tool for sharpening strategic thinking. Originally developed by Michael Porter, the value chain breaks a business into primary activities (like production, operations, marketing, or sales) and the supporting secondary activities that enable them. By mapping these activities—whether at the industry level, such as bean production through roasting in the coffee industry, or at the company level, like Uber’s operations spanning rides, delivery, and freight—leaders can see where differentiation and costs shape customer value. Comparing your value chain against competitors’ makes it easier to identify areas of competitive advantage and disadvantage, offering a practical way to practice strategic thinking.

🧠 League of Strategic Minds:

This listener Q&A tackled the question, “How can I tell if my strategy is working?” Rich explained that one common pitfall is changing strategies too quickly without truly testing them. The key lies in setting measurable objectives with clear timeframes, then building in milestones to track progress along the way. For example, instead of aiming vaguely to increase sales by 15% over the year, a leader might target 3% growth in Q1, 6% by Q2, and 10% by Q3. These checkpoints create a clear rhythm for evaluation, allowing leaders to adjust thoughtfully rather than guessing whether their strategy is paying off.

🏆 Winsights: 

To close the episode, Rich shared a quote from Olympic gold medal gymnast Shannon Miller, who observed that at the highest levels of competition, everyone is talented and works hard, but what separates the gold medalists from the silver medalists is the mental game. The insight applies equally to business: mental fitness is a strategic advantage. Rich encouraged listeners to build their own mental game by starting the day with short “mental workouts” to increase focus and resilience, positioning themselves to perform at their best when it matters most.

🔗 Links:

📘 SuperAdaptability
📘 The Strategy Book
📘 The Innovation Book
📘 The Innovator’s Book
🌐 TheSpeedStrategy.com
🎥 Max McKeown Live Drawings 

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