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In today’s competitive landscape, businesses constantly seek sustainable growth. Traditional growth models often fall short in the face of market unpredictability and empowered consumers.
This blog post explores a highly effective alternative, focusing on a “just about right” strategy and flawless execution, as demonstrated by our internet businesses’s journey to $1 billion in annual sales.
My BE DiFFERENT or be Dead model eschews the pursuit of a perfect, all-encompassing plan.
Instead, it prioritizes a strategic approach that’s “just about right”—sufficiently robust to guide the business while adaptable enough to navigate unforeseen challenges.
This represents approximately 20% of the overall effort. The remaining 80% is dedicated to flawless execution.
My model hinges on two core tenets: creating a unique value proposition and flawlessly delivering on that promise.
Crafting the “Just About Right” Strategy
The initial phase focuses on defining a clear and concise strategy.
Key aspects include:
The Strategic Game Plan — This phase is about developing a Game Plan with the critical imperatives that must be achieved.
The key elements of The Strategic Game Plan are…
- A 24-month Revenue Growth Goal - Define a clear and ambitious, yet achievable, top-line revenue goal within a 24-month timeframe.
- Target Customer Segments - Identify a small number of key customer segments whose needs and desires your business can effectively address. Deep understanding of what they DESIRE and CRAVE is crucial.
- Competitive Strategy: Develop a unique competitive approach that leverages your focus on delivering unique value that your target customers CARE to win in the Customer Segments you have chosen to serve.
Differentiation — The cornerstone is a unique “ONLY” Value Proposition that sets your business apart from the competition.
This isn’t merely about features; it’s about understanding and addressing customer cravings and desires.
Prioritization — Identify the critical few actions that will yield the maximum impact. Avoid spreading resources thinly across numerous initiatives.
Strategic Oversight — Assign a “Strategy Hawk”—an individual responsible for maintaining strategic focus, adapting the plan as needed and most importantly, ensuring that strategy execution is flawless.
This not only ensures the strategy remains relevant and effective in a dynamic environment, but also the strategy has “single finger accountability” for achieving its intended results.
Integrated Marketing and Service — Customer retention is paramount. This requires a robust marketing strategy complemented by exceptional service.
This requires a three-tiered service approach: solid core service, “rave-worthy” memorable experiences, and mind-blowing service recovery for any missteps.
Flawless Execution: Delivering on the Promise
The majority of effort is dedicated to flawless execution. This necessitates…
Line of Sight - Ensure every team member understands the overall strategy and their role in achieving it. Clear communication and transparency are vital.
Servant Leadership - Adopt a “How can I help?” leadership style, identifying and remediating the barriers to strategy execution fostering collaboration and empowerment throughout the organization.
Empowering Leadership - Develop a “fingerprint” leadership approach where each leader imprints how strategic imperatives and customer moments in the organization are to be treated.
This is a fundamental role of the leader to ensure strategy execution goes as intended and organizational dysfunction is avoided.
Internal Alignment - Prioritize internal efficiency—Cleanse The Inside—and eliminate any internal friction, barriers, “grunge”, bureaucracy and irrelevant rules and policies that could hinder flawless execution.
Talent Acquisition - Recruit individuals who genuinely care about people and deliver exceptional customer experiences.
Passion and empathy are essential.
Key Takeaways for Business Growth
The growth model we used to grow our internet business offers practical insights for businesses seeking substantial growth:
Differentiation: Stand out from the competition by offering a unique and compelling value proposition.
Emotional Selling: Focus on building relationships based on understanding and addressing customer desires.
While everyone else is competing in the price sensitive, commodity-like NEEDS space, make the move to deliver what people CRAVE. THIS space has few competitors in any industry and is relatively price insensitive. Cool ‘eh?
Short-Term Focus: Managing short-term results is crucial for long-term success. Consistent, incremental progress builds momentum and confidence.
By adopting this approach—focusing on a “just about right” strategy and unwavering commitment to flawless execution—businesses can navigate the complexities and uncertainties of today’s markets and achieve remarkable , sustainable growth.
Related: Can Technology Really Guarantee Success? Here’s the Truth