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How To Craft A Killer Business Strategy | The Melting Pot Newsletter | #73

HOW TO CRAFT A KILLER BUSINESS STRATEGY FOR THE FIRST TIME

Made any plans for 2020? Feeling confident about the future? Is there a clear road-map in your business, leading to a new and thrilling destination?  If you’ve answered no, you’re not alone. Businesses often come to me with vague ideas about their strategy at best, let alone a killer business strategy.  They’re bogged down in meaningless jargon and much of it is guesswork. There’s little research to back up their tactical plans and little understanding of their true competitive position. 

Then they tell me they want to grow their business! Impossible! Scaling-up a business without a clear strategy is like captaining a ship without a rudder. There’s no control. You’re constantly buffeted off course by the winds and currents of life.

Maybe you’re worried that strategic planning is too overwhelming and time-consuming?  It really isn’t. In my experience, it takes just two days to work it out. Two days to kick-off an entirely new way of thinking and interacting with the world.  That’s got to be worth it!

So what’s the process I use?  How do you create a killer business strategy for the first time?

The Melting Pot With Dominic Monkhouse - Featured Image

Leveraging LinkedIn: The Riches Are In The Niches

Do you know how to use LinkedIn? As in really know how to use LinkedIn? As in to generate leads, make sales, connect with meaningful prospects and make decent money from the platform? 

Because if LinkedIn is a platform you’re trying to leverage, then listen to this week’s episode of The Melting Pot with John Nemo, author and marketing coach, for some amazing advice and top tips. 

John helps business coaches, business owners and consultants use platforms like LinkedIn to find, engage and win new business online. He’ll show you how to find and engage your ideal prospects, along with how to use content as currency to “purchase” the time, attention and interest of your target audience. 

In fact, John was an inspiration behind Dom’s transition from the corporate world to becoming a solopreneur, so it’s quite poetic to have him on the podcast, sharing his secret sauce. 


Recommended Podcasts

BUILDING A STORY BRAND

If you’re frustrated because you struggle to get the word out about your product or service, the Building a StoryBrand podcast will help. Fans of the podcast are ecstatic about the fun and entertaining way Donald Miller brings you practical advice about clarifying your message so customers will listen. Don and the StoryBrand team are the world’s leading experts in harnessing the 2,000 year-old proven power of story formulas to get people talking about your brand. Get your message out, grow your company, stand out in the marketplace, and have a blast doing it!


Recommended Articles

HALF OF LEGAL PROFESSIONALS SUFFER FROM SUNDAY NIGHT FEAR

 The latest survey from the UK’s leading independent job board, CV-Library, reveals that half (50%) of legal professionals suffer from Sunday night fear; with 61.5% admitting that they’ve called in sick because they were too worried to go to work.  

THE DIFFERENCE BETWEEN AVERAGE AND ACHIEVING

Do you know people that are just a little bit better than everyone around them? Have you ever wondered what their secret is? It reminds me of a scene in the movie Space Jam, starring Michael Jordan, where the Tune Squad is losing by a large margin at halftime and go into the locker room with very little hope of winning. In the scene, Michael Jordan is doing everything he can to encourage the team, but it’s not working. So Bugs Bunny takes matters into his own hands by secretly writing three game-changing words on Michael’s water bottle: “Michael’s Secret Stuff.”

THINKING BY SPRINTING: WHAT COGNITIVE SCIENCE TELLS US ABOUT WHY SCRUM WORKS

A while ago, I received an interesting scientific article from Gunther Verheyen titled “Getting Things Done: The Science Behind Stress-Free Productivity” (Heylighen & Vidal, 2007). The article discusses possible scientific explanations for the success of a personal productivity approach called “Getting Things Done” (GTD; Allen, 2001). The authors apply insights from cognitive psychology and cybernetics to better understand why this approach is so effective. Although GTD is focussed on individual time management, the authors mention the potential for collaborative work. Their paper provides useful insights into why the Scrum Framework might be so effective when it comes to managing complex work. Their article inspired me to apply the same insights to Scrum and to extend it with my own.

Recommended Reads

REBEL IDEAS BY MATTHEW SYED

Success is no longer just about talent, or knowledge or skill. Today, it is also about freeing ourselves from the blinkers and blind spots that beset us all, and harnessing a critical new ingredient: cognitive diversity. In this bold and inspiring new book, Matthew Syed – the bestselling author of Bounce and Black Box Thinking – offers a radical new approach to success and a route map to how we can tackle our most complex challenges, such as obesity, terrorism and climate change. It is a book that will strengthen any institution or team, but also offers dozens of individual applications too: the art of personal reinvention, the extraordinary benefits of personalised nutrition and how to break free of the echo chambers that surround us all. 


RANGE BY DAVID EPSTEIN

A powerful argument for how to succeed in any field: develop broad interests and skills while everyone around you is rushing to specialize. From the ‘10,000 hours rule’ to the power of Tiger parenting, we have been taught that success in any field requires early specialization and many hours of deliberate practice. And, worse, that if you dabble or delay, you’ll never catch up with those who got a head start. This is completely wrong. In this landmark book, David Epstein shows you that the way to succeed is by sampling widely, gaining a breadth of experiences, taking detours, experimenting relentlessly, juggling many interests – in other words, by developing range.

MEANINGFUL ACTION FOR MONDAY

Do this now for April/June.  Identify your #1 thing for the next quarter to serve as your Theme Topic. Decide how you’re going to measure success on this #1 thing. Turn it into a fun and engaging theme (get creative!) Create a reward for accomplishing your goal (doesn’t have to be monetary!) Communicate and roll out the theme to your whole company. 

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