Archives for category: Strategy

It’s easy to get hung up on a go to market plan. Sometimes it can feel a bit daunting: all that research, data analysis and projections to do. Yes, a full go-to-market plan can be a big undertaking depending on the stakes, but the essence of a solid go-to-market plan is being able to answer 6 questions.

Who? Who are you selling to? Which customer segment? Which individual buyer types are you appealing to within your target customer?

Why? Why should they care? What can you do for them and why should they come to you rather than elsewhere?

What? What’s your offering? What’s the make-up of your product, service and accompanying services?

Where? Where will you reach them? Where do they go for their information? The web, via partners, consultants?

How? How will you reach them? Email, advertising, promotion, PR, events, calls, meetings?

When? What’s the timeframe for preparation, execution, review, adjustment?

You can probably see that this kind of 6-question framework doesn’t simply work for go-to-market projects. You can apply it to almost anything you need to do, in order to cover the key bases and get a quick-fire direction that you can build on.

 

When I look back on individual short-term events in my life, or over long-term things like career, health and so on, I find that I have allowed external factors to shape and evolve me. I have on occasion rolled with the punches, got caught up in the forward momentum and gone with the flow.

I’ve not been in control. I have allowed the focus of control to be external of me, rather than internal to me.

I think it’s important to level-set every so often and endeavour to take back control. Take back control in everything from individual decisions to relationships with other people or entities and to strategy for companies and organisations. Not at the expense of others, that’s not what I mean here. I mean to be active, positive, current, engaged and decisive.

Yes, an important part of assessing our strengths and weaknesses is also assessing the opportunities and threats that are outside our control. Yes, sometimes we have to play the hand we are dealt.

But, if that hand is not what we like, or has developing into something that we don’t like, do we have the option to walk away, and play another game? A game that gives us back control?

It’s about options, isn’t it? If it is, then it’s about taking back control, because without it our options are poorer and more limited.

Most people are either short on time and long on money, or they’re short on money and long on time.

If you’re the former, it’s because you’re busy and / or important, and while you have plenty of disposable income you don’t have much time to dispose of it.

If you’re the latter, you’ve bags of time on your hands but your lack of money limits what you can do with that time. Both scenarios seem to me to be deeply ironic yet are classic examples of what life is like in the real world of limited resources.

The holy grail is of course to be long on time and long on money. I’m reliably informed that this is known as a financially comfortable and healthy retirement, a concept that feels very distant and remote to me. Then there’s winning the lottery or a similar kind of windfall, which is the short cut, at a distance and remoteness that tends to zero probability. And yet we play it, eh!

Unfortunately, I seem to be spending a good bit of my time in the lower quartile, the bottom left box of your management consultant’s two-by-two matrix. Yes, that’s the short on time, short on money variety. Dashing around the place developing business, creating projects, getting things off the ground, doing good things, for no money.

Yes, I’m happy, and lucky, I know. But a bit more of both wouldn’t go amiss, I promise.

As I write this, daily and even hourly developments in the UK get filed under the ‘you couldn’t make it up’ column. As you read it, I expect the same situation is currently prevailing.

I heard an interesting story the other day, another symptom of the ‘every man for himself’ panic that sets in during similar times, affecting everyone from your neighbour up to national governments, causing us all to pull decisions, funding and the plug left, right and centre. If only we could be so decisive in our positive actions.

Anyway, this training company was offering programs on business growth. All very worthy in any environment, never mind today’s. Front and centre in the program was Brexit planning and mitigation.

Attendees were signed up, trainers were assigned, everything was ready to go. At the last minute, three companies pulled out, causing the program to be re-organised and two trainers to be let go. The reason they pulled out? Brexit! The irony that you’re pulling out because of concerns around the area that the program is focused on helping…

Remember recently when I mentioned organisations pulling marketing at the first cost-cutting sign of hard times ahead, when the one thing that can differentiate them in a challenging economy, and even grow at their competitors’ expense, is marketing? More of the same :-).

One of the fascinating characteristics of the universe is entropy, the notion that eventually everything gets messed up. Or, as the Americans might say, it all goes to sh*t.

This has never been truer when it comes to large political, financial and economic systems. They’re pretty easy to get into it, but after while you’re well and truly tangled up and they’re really hard to extricate yourself from. Perhaps that’s why there was no real plan for how a country comes out of the euro, or why the UK is finding it so hard to come out of Europe – whatever that means. Maybe the sages knew this all along and kept quiet.

Someone told me the other day that if there was another referendum on Brexit, ‘remain’ would win comfortably. Not because of the recent experiences, though. More because in the last 3 years many of the elderly who voted to leave have shuffled off their mortal coil. For them Brexit turned out to be a final parting gesture like when the Terminator disappears below the surface and gives us the thumbs up, except this time it’s the middle finger.

That is the true Brexit irony. We’re over 3 years further on, and how far have we got? Governments are composed of people, and as people we have a tendency to leave that washing up, that job, that year-defining dissertation til much later. Let’s take a break first, rather than immediately planning for the finishing tape and getting a sense of what we need to do right now to hit the deadline.

Now, with the deadline looming ever closer, and almost no progress made, we’ll be hoping for another instance where productivity accelerates hugely before the due time and we get it out the door, something, anything, just get it out.

Or maybe we’ll ask for more time, again. And if we don’t get it, and the deadline passes, will it be like Y2K, or WW2?

In the preceding post I wrote about the bites Brexit is already taking out of our daily lives at work and play. It’s really hard to fathom what the economics of it are going to be. Bad is the universal opinion, but how bad and in what areas?

The trouble with economic models is that they are not very good at predicting the future. They’re great for explaining and rationalising the past, but that’s not much good when you’re staring down the barrel of the single most important macro event of the last half century. The last economic downturn took some of us a decade to recover from. This one looks like being at least a generation, and not just economically. For the last few years we’ve been in a period of serious isms – isolationism, protectionism, lookafterourselvesism…and this is the background against which Brexit is going to play

The central banks’ methods of, for example, keeping down interest rates to stimulate the economy while at the same time making it more difficult for us to plan for a financially secure retirement, may well not work in 2020 and beyond. They might have the opposite effect. We simply don’t know.

Business uncertainty makes businesses worry and stop spending on the only thing that’s likely to bring them growth, namely marketing. Why is it that the practice of positively influencing the exchange of outcomes between you and your customers the first thing you stop doing when the going gets tough?

Personal uncertainty makes us stop spending money and consuming as much as we were, which of course impacts businesses. It’s the downturn death spiral.

Who knows, perhaps any impending hardship will actually force us to properly embrace the environmental tenets of reduce, reuse, recycle, like our parents and grandparents had to do in wartime eras? Perhaps this kind of economic downturn and conservative/conserving/conservationist behaviour is just what the planet was hoping for. It might re-engender some genuine altruism and community spirit, and turn us from a diet of me-ism to we-ism.

Brexit is a subject that’s possibly broader than any other. It’s pretty much like saying ‘the global economy’, except that it’s broader again, with huge cultural and environmental implications. That’s the problem with a connected world: everything’s connected. Fine when everything is going well, a house of cards if it isn’t.

And, as I write this, the implications of it – uncertain but massive – are starting to bite into the apple of our daily lives. It’s true that business hates uncertainty, but the recent doom and gloom of the Irish broadsheet press is hard to ignore.  Mrs D is very scornful of my comment that I don’t think Brexit is going to affect me very much. I should have perhaps qualified that by saying I was talking about my work. For someone whose business is sales and marketing strategy, the international aspect of this should mean that I’m actually busier.

In truth, while, paradoxically, we’re pretty close to full employment in Ireland, the state bodies that part-fund a lot of business initiatives – and therefore indirectly fund some element of consultants’ income – are reviewing their programs, reducing initiatives and reducing the number of companies on them. At least to my partly-tutored eye.

At an individual and personal level, and as an Englishman working in a die-hard EU country, it’s hard not to feel insecure. Where do you go to insulate your financial future from the impending onslaught that might last long enough to prolong the entry into retirement for those who might be twenty years away from it?

Probably worth a follow-up post on this, I think.

Often it’s just a nugget of information, a flash of a thought, or a sideways comment that provides the inspiration for one of my short posts.

So what is blogworthy? What idea, opinion or story is worth a pauldilger.com blog post? Firstly, it’s got to be robust enough an observation that I can spend a minimum of four short paragraphs on it. You can cast your eye over the previous 900-plus blog posts, but I don’t think I’ve ever written one less than four paras.

Secondly, I sometimes invoke the rule that if I don’t remember it, it’s not blogworthy because it’s not memorable enough for me to retell. I don’t often invoke the rule though, because I’m middle aged and my brain can’t retain thought like it used to, especially if I’m concentrating on something else at the time.

These days I almost always write down the blog title, on my phone or a scrap of paper. Usually the title on its own, sometimes an explanatory sentence or two if the title is a little cryptic.

Thirdly, if I can’t remember the central premise of the short descriptor, I don’t write it. How could I?

I’ve lost far too many blog post ideas to try and hold them in my head. When you’re nearing the 4-figure mark for total posts you can’t keep dipping into a finite well.

I like the newish thing with Ryanair where you can add a buck to your flight price to offset your carbon footprint for the journey. It’s a token gesture I know, but it’s heading in the right direction. I wonder how Ryanair passes on the buck to the relevant authority or worthy cause?

I took a flight with Ryanair the other day, accompanying my mother to the UK. She took a can of juice and I took a can of soda. Towards the end of the flight the stewards came with the white plastic bags to take away rubbish. It looks like everything goes into the bag.

I asked the steward if they recycled, since I had two aluminium cans and two plastic cups to get rid of. No, he said, shaking his head in a rather embarrassed fashion. I said I would take them with me and recycled them at my Mum’s place.

Maybe he was wrong, but maybe not. With Ryanair it’s all about process. They’re massively process-oriented, striving for operational edge and, as I write this post, seeing their profits dwindle and talking about flight crew layoffs. I can’t imagine how they think that taking away rubbish in one bag and recyclables in another bag is a good use of their resources. To them they’d rather take the slight hit to their brand. Short term goggles to stay in the game over long term loss to the planet.

Action and reaction are equal and opposite of course, as Newton’s third law goes. Someone’s going to take the hit eventually, just not in your or my lifetime.

I feel sure, without any empirical evidence to back it up, that some of the greatest inventions, jokes, phrases and so on started their lives as a mistake. A transcribing error, a misheard comment, a miscommunication, or maybe misheard lyrics.

The title of this blog post is no typo, I meant to write it. But it did begin as a typo, when I was writing an email on strategy, and wrote startegy instead.

When you think about it, strategy is all about starting, about getting started. It can sometimes be daunting to ‘do’ strategy. There are processes to follow, people to involve, data to collect, decisions to be made. Then you have to execute on it, as strategy is nothing without execution.

If you’re stuck, start! Somewhere, anywhere, to get the process moving and make the early mistakes.

My typo reminded me that strategy is as much about doing as it is about thinking, planning and plotting. Startegy – the science of starting.