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Friday, June 20, 2008

The Power of The Two Word Strategy

When it comes to strategy formulation, it's important to be as clear and concise as possible. Brevity is key.

With that in mind, try boiling your strategic position down to two words (or at least two key concepts.)

The two words you choose need to answer the following two questions:

  1. What business are you in?
  2. What makes you different?
For example: Dell (computers direct); Southwest Airlines (short flights); FedEx (overnight delivery); JiffyLube (quick oilchanges) and so on.


Long-term business success is rooted in your ability to build and sustain a product or service that is different than your competition - different in ways that are important to customers.

BOTTOMLINE: Getting to this level of clarity is not easy. But, simplifying your strategic position to two words:

  • Forces you to make tough choices (you can be all things to all markets)
  • Strengthens your focus and direction (use the strength of competitors against them)
  • Ensures clarity (so everyone in the organization understands it and aligns activities to it)

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