This is a useful article from Eric Ries who discusses how to try to reduce unnecessary costs when starting up a business. Although some of his earlier remarks may challenge your thinking as they do mine, when you get into the detail of the article itself, he puts across some useful lessons.
His two personal examples demonstrate how easy it is to over-engineer a product or a business before one has a clear understanding of exactly what is your service, who you are selling to and what is your basis of competitive advantage. Strategy 101? Perhaps, but an awful lot of organisations (large and small) lose sight of that.
Although he calls it “lean” start-up, to me it is more of a design approach to developing new products and strategies: idea > prototype > test > refine with an iterative loop in the last 2 elements before investing too heavily in the final product. But no matter what it is called – it is good advice. Click below to read article:
The reason we have decided to promote this article is because the thinking demonstrates some of the pitfalls of not thinking strategically or not having a clear strategy based on real customer needs and market dynamics. And these are the type of things we can help you with when developing or refining your strategy.
So have a look at our latest on-line tool: The Genesis Strategy Genie (click on genie below) and see whether the genie might help you put “strategy – at your command”.