JUST Branding S05.EP11 - The No BS Guide to Strategy with Alex Smith
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Jul 16, 2024 In this engaging discussion, Alex M.H. Smith, founder of Basic Arts and author of "No BS Strategy," dives into the essentials of crafting effective strategies. He challenges the notion of mediocrity in businesses and emphasizes the importance of bold, strategic moves for long-term success. Alex also highlights the common pitfalls to avoid, such as over-relying on customer-centric approaches. With compelling insights, he argues that understanding competitors often holds more value than pure customer research. Tune in for practical advice on maximizing business potential!
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Strategy Equals Value Creation
- A business exists to generate value and exchange it for money.
- Strategy is the answer to how you maximise the value you generate.
Two Core Strategic Failures
- Most businesses fail on one of two problems: undifferentiated offering or insufficient demand.
- Great strategy solves both by offering something many people want that others cannot provide.
The Strategy → Delivery → Communication Trinity
- Strategy has three linked parts: the company-level choice, practical delivery, and communication.
- Branding is primarily the communication of your strategic offer to the market.
