Sun Tzu: Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.
This quote is from the book “The Art of War.” This book is a book about strategy. Strategy is equally applicable to any arena where strategy is required, especially business.
How do you apply a strategy for business outcomes?
Strategy is, simply, the art and science of options. It is a matter of understanding current options, creating new options, and choosing among them.
- Quite simply – what do you want to achieve?
- What are the options you have to achieve your objective?
- What are the options you have but don’t know you have?
- Build your strategy.
- Engage all stakeholders in your strategy.
- Undertake the strategy.
- Measure the results.
- Celebrate your and your team’s success.
I worked with a business owner who wanted to sell his company and move onto the next phase of his life.
How did this option stack up at first glance?
- He knew what he wanted to achieve. ✓
- What options did he have to achieve the objective? x
- What were the options he had but did not know he had? ⁈
What options did he have?
This business owner was like many business owners who have been operating for a number of years. His contribution to the success of the business was vital and his unique blend of capabilities could not be replaced by a single person known to him.
He did not believe he had an option to sell.
He was thinking that he would be selling to an acquirer who would want to continue operating the business as is.
He believed his only option was to continue to trade.
What were the options he had but did not know he had?
There were a number and an attractive previously unknown option was:
- Merge
- Buy out
Other companies have the blend of capabilities that the current owner believed were unique. They had the capabilities in people, systems and processes. So he could become redundant.
When we discovered there was a different way to exit his business his eyes were opened to the possibilities.
His company was a successful company with consistent profits and good contracts in place. His company was a very attractive merger option.
Companies that wanted to expand into the market that his company was successful in would actively consider a merge/buy out.
With his eyes opened to the possibilities the outcome was achieved.
He was now in the looking zone.
A number of merger options were tabled and the ownership of his company changed hands under very favourable terms.
A great outcome was achieved for the merging company, a great outcome for the company’s existing clients and a great outcome for the previous owner and his family.
The business owner and his family are enjoying the fruits of their labour in the next phase of their life.
Strategy & Leadership
Strategy and Leadership discovered an option where no option had been previously evident.
Work with people who can help you to explore the possibilities and then you will realise more than you imagine possible.