Too often we are stuck trying to evaluate a multitude of ‘what if’ options when it comes to strategic planning; trying to tabulate a massive matrix of all the variables.
A tool we use at Business Dominoes is to map out the different scenarios on a simple cost vs benefit matrix (click image below). Simply referencing the centre point being business as usual (BAU) i.e what we are doing now. Then referencing the alternatives based on the relative cost and benefit.
Our brain has an amazing “gut calculator” that enables it to subjectively accumulate of all of the data to evaluate what does total cost and benefit accumulating a multitude of variables.
This analysis will quickly highlight both quick wins and potential long term strategies, bearing in mind often you will need to adopt a couple of interim strategies to achieve your end goal.
You can also use the same tool to compare your competitors. Remember it’s from your customers perception, not yours. The diagram below is an easy way to illustrate your market positioning.
Business Dominoes – Strategic Development Programme
If you are after some fresh thinking around how to handle some major strategic decisions for your business and avoid being blind-sided by some giant guerrillas in the market I would suggest attending the Business Dominoes Programme. It’s a 4 day intensive boot camp, where you will be armed with and use a variety of tools to aid you strategic thought processes, make decisions and chart a lower risk path to success.
Free Entry to MyBizExpo:
Free 1 hr Seminars at Biz Expo –
Monday 15th Oct 2pm
Creating Powerful Elevator Pitches
Tuesday 16th Oct – 1pm
Funding Business Growth - Tools and strategies to build a scalable business
Presenter Mark Robotham