Lafley-Martin’s Five-Step Strategy Model to help you succeed in your business.
What makes you succeed in business? It’s obviously the strategy! To develop a winning strategy, you can use the renowned and proven Lafley-Martin’s Five-Step Strategy Model.
The better the strategy, the greater is the success. Your product, your service, its quality and features takes a lower priority in front of the strategy you design. Of course, it helps to have a great product, but you need an excellent strategy to match.
Note: It is easy to just read the article to gain knowledge… We recommend you rather work it out using the following questions:
1} What is winning to you and what is your winning aspiration?
There is no point in fighting a losing battle! If you are just participating and not trying to win, it is just waste of time and money. In this step, picturize what success would look like and depict the victories that would lead to the future:
2} Where are you playing to play to win?
Specific is terrific! Having a clear picture about the game is like having covered atleast fifty percent of the task. Identify the markets and the customers. Strategically define the geographies, demographics and channels and mediums to make a winning move.
3} How are you going to win wherever you are playing?
What strategy will you draw? What will be the USP’s? How will the product or service be positioned? What unique value are you adding to the customer? What are you doing in addition to your competitor that can create an edge?
4} What capabilities or competencies should you possess to win?
We need a set of capabilities to enter and win in any market. Identifying them and developing on them will smoothen your ride and increase the speed to attain your goal. Describe them here and NOW:
5} What management systems are required for your win?
Decide what tools you require:
- how are you going to measure?
- who you need?
- what you need?
- how you will deliver?
- how will you determine whether the strategy is succeeding or not?
Detailed explaination of this methodology can be found in this book. The difference between the ones who succeed and the one who don’t is that they take ACTION! And you have to take it NOW… We highly recommend you finish this exercise before moving to the next tool.