Mark Hess shares an article from his company’s blog on the principles of strategy.
In broad strokes, strategy is decision making—but not in the way one might think. The most important part of your strategy is deciding what you’re not going to do.
What is Strategy?
Strategy, simply stated, is how you get from Point A (where you are now) to Point B (where you want to be). You want your organization to grow from $100M to $500M. That requires decisions on which customers to serve (and not serve), what products/services to sell, where to focus the company’s resources and what capabilities you need on your team. It might seem simple to read here in black and white but in practice, it’s not simple; in reality, strategy requires clear and objective data, and often, help from someone outside the business to assess the current situation. Think of it as you would self-diagnosis when you’re not feeling well: sometimes you know what to do and you heal swiftly, but sometimes, when the situation is serious, it’s best to call a doctor—an expert trained to assess, diagnose, and solve the problem.
The same reason you’d trust a doctor to diagnose an illness is the same reason you should trust a consultant to craft your strategy. Consultants make decisions based on clear vision, on sound data, and with no agenda in mind other than helping you get from Point A to Point B. Consultants know what constitutes good strategy and, maybe more importantly, we know how to implement what we know so you can reach your goals.
Key points include:
- Requirements of good strategy
- Big dreams aren’t strategy
- Growing pains
Read the full article, Principles of Strategy, on Maven-Associates.com.
Duane Capuano shares a white paper on the blocks that stop the implementation of strategies and provides a framework for moving a strategy from thought to action.
Countless association executive teams dedicate significant time and resources to strategic planning. But too often, great ideas and plans stay trapped in the notebook and are quickly moved to the backburner – reduced in priority by more pressing day-to-day management and operational demands.
The need for implementation of forward-looking strategic plans is real and more pressing than ever. Today’s association executives face frustrations of plateaued growth, shrinking revenues and inability to move new ideas into action.
Challenge: Finding New Sources of Revenue
Tightened member budgets have contributed to flat or declining membership and lower attendance at annual meetings, and thus, lower association revenue. Associations must create new products, establish new partnerships, and identify innovative opportunities for engagement to stay relevant. But how…?
Challenge: Growing and Engaging Membership
The professional networking available through social media and new priorities of the Millennial Generation demands that associations find new ways of attracting and engaging members. But how…?
Points covered in this article include:
- Building the business case
- Define priorities
- Establishing metrics
Access the full white paper, From Strategy into Action – A Roadmap to Success for Associations, from successroadsllc.com.
Umbrex is pleased to welcome Sumeet Sanghani. Sumeet Sanghani is a proven growth achieving sales and P&L leader in the outsourcing and shared services space, who is looking for a role in which he can amplify and accelerate growth for a fin tech company.
Sumeet brings the ability to advise and influence senior client executives to embrace solutions which can help them digitally transform their operating and business models for breakthrough performance. He combines advisory and consultative selling skills from his days as a top tier management consultant with McKinsey, EY and Deloitte, with deep domain knowledge in retail banking and lending, coupled with strategic, financial and operational expertise. He has a track record of closing large deals with top 25 banking clients in North America, managing high performing global sales and client management teams and has had P+L responsibility for running and growing business units with over $300M in revenues at Conduent and Cognizant.
Sumeet can help with initiatives to enhance returns from outsourcing and shared services initiatives, from strategy development and planning, to execution plan development and implementation, including assessment and selection of outsourcing partners, commercial negotiations and contracting and governance.
Umbrex is pleased to welcome Katarina Podlesnaya. Katarina spent 8+ years across management consulting at BCG, venturing and blockchain product development at ConsenSys, advising multiple start-ups, and serving as an owner of a retail business.
Katarina’s expertise focuses on growth strategy, procurement and negotiation, technology, operational improvement, and organizational design.
She currently resides in New York City and maintains a strong network and presence in San Francisco, Washington, DC, and Dubai, UAE. Katarina is happy to discuss collaboration opportunities irrespective of global location.