To fail to prepare is to prepare to fail.
But having a strategy is no guarantee of success. External factors are always changing and new information becomes available and the environment changes.
So what makes a successful strategy? Below are three principles that underlie a good strategy.
A good strategy will have a very simple objective at its core, that can be described in a single sentence and instantly understood, such as Steve Jobs’s ‘1000 songs in your pocket’ for the iPad. By having a clear centre, the strategy will be solidly grounded and anchored to this concept.
The biggest pitfall of strategies is making incorrect assumptions. When developing a strategy, you should question everything you think you know and make sure you get solid facts. Even better, make sure your strategy relies on as few assumptions as possible – that way it will be…
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