Have you ever tried to compete on the “other guy’s field?” So many businesses and people try to copy other company’s strategies because the other guy is successful. Why not strategize using your own skills and resources?
Take Andrew Huang for example. Instead of covering the “Breaking Bad” Theme like so many have done before, he used a different approach. Watch him cover the theme using items commonly found in a meth lab.
Andrew broke the bad habit of many artists. Basically these artists film sessions covering a hit song with the intent to sound exactly like the original version using the same instruments. Their goal was to pick up an audience and a following. Yet, Andrew accomplished this by combining the music with the dynamics of the program. He was able to stand apart from the millions that ache for a “following.”
This thinking not only applies to artists, but to businesses. When your competitor launches a new idea, don’t try to replicate it. Instead, try to leapfrog it using other strengths that are inherent to you and your company. The typical “SWOT Analysis” is used in strategic planning, though as only a small part of it. The SWOT analysis is measuring the internal aspects of your business (strengths and weaknesses) against the external aspects of your business (opportunities and threats).
Setting a strategic plan means taking a novel approach to your business using all available information from your internal accounting to external market conditions. This entails being brutally honest. For example, if there are products, or personnel that do not align with your strategy, you must eliminate them. The concept that Jim Collins in states in his book, Built to Last is the get the right people on the bus before it leaves. Don’t drag people along that you hope will change. If they don’t mix with the new direction, then you are better off letting them find a job that they can agree with.
Try “Breaking Bad” habits and push your company to a horizon that offers more than immediate gratification. (BTW, I don’t recall a guitar being and essential tool in a meth lab.)
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