Where and How to Use Strategy
So let's get started here and let's talk about strategy. Strategy is everything. Everything. Strategy means that you have a plan to get to a particular outcome. So if we look at a mission and a vision and a strategy, right. So the vision really is your why. Like, why do you do it. Your mission is what you do. Right, I'm gonna become such-and-such, such-and-such. I'm gonna have a career, I'm gonna become a CEO of a company, I am, you know, running my business. But the strategy, the strategy tells you what the exact steps are, how you are gonna to be doing it. So. If you think about these other parts, and that's what we always talk about when we talk about business, what's the vision and the mission. But then, what's the strategy to actually implement all of this stuff? So that's what the strategy is in an essence. Strategic thinking. Do you think it's learnable? What about somebody who's not good at strategy naturally? Do you think they could learn then? Yes.
Exactly, because ...
within the word strategy, it's an action, right. And so if you have an action plan that teaches you, first, you do this then you do this then you do this, then that should be possible for everybody to do, correct? That's exactly right, it is a learnable skill. And what exactly is it? Well, as I just said, it is the idea. Strategy is the idea of how am I gonna get from here to there. It is not enough just to say, I'm going to run a million-dollar business, I'm going to be the CEO of a hundred million-dollar business, I'm gonna be the CEO of a publicly traded company. The question is. Well, that's great. But how exactly are you going to get there? So you're going to discover that there's certain skills you need. There are certain requirements that you have to have. And so that's all part of the strategy, to figure out what are all these things that go that go into it. And then, the question is, why do I need even strategy? Why can't I not, what's wrong with just, what's wrong with just letting life happen and making the best out of it? Well, if that's you, this is just the wrong class. Because that's not what we talking about. I actually can't stand that. I don't think that, you know, people have this victim mentality and say, oh, life is so difficult, I can't believe all of this is happening to me. You just heard in my story, a lot happened to me. Did I give up? Hell no. I will not go down by a tiny little match. If I go down, it will be a flaming inferno. And I will not drown in the bucket. If I drown, I will drown in an ocean, at least it's worth it. So this is the idea of, you know, the person who says, I am going to take this and I'm gonna turn this around. And I am no longer permitting myself to make any excuses to just say, okay, well, life is tough for everybody, okay. You show me one person that doesn't have a problem, right. Everybody's, you know, friends, family have tragedies to overcome, people have health issues. You know, there's lots of single parents out there. So there's so much we have to overcome. So you're not alone in that. But now what? So this is what strategy will help you to do, is to get really to that sort of next, that next level of strategy. So strategy is used, for example, to build a network. So you can have a very strategic approach on how to expand your network. You can influence any situation. Any meeting, any outcome, any situation, when you have a strategy, can be influenced by the way you approach it. You can plan your career advancement by using strategy, because it's not enough to say, you know, it happens to me in my mentoring with business owners all the time that they say, well, I wanna have positive cashflow. Well, what does it exactly mean? Shouldn't the positive cashflow be a requirement of your job? Of your business? And if that is the case, well, what are you willing to do for that? Because it's not enough to say, that's what I want. But how many risks are you willing to take? How much money are you willing to put into it? How much time are you willing to invest into that? And what is a positive cashflow? Is it a little bit or is it like a really super positive cashflow? So this is the part about the strategies that you just have this moment of clarity where you say, well, what can I reasonably do without in my circumstances? So if you're a single mother, there are limitations, because you're gonna be, you're gonna have to go home and pick up your kid. If you're in a relationship, there are probably limitations unless, you know, if you take your relationship seriously. So this is all part of the strategy. It's not about achieving what anybody else wants. It's about you. So we are gonna go now in our workbook on page number three. And I will be showing this in just a second, because I sort of filled some of these out here. Let's talk about what is your understanding of strategic thinking. And I wrote some of these things down. So number one. The pattern of decision making can be predictable through strategy. Imagine, if you could, if strategy would mean that you have a predictable pattern you can use to arrive at a decision, would that be helpful? Hugely helpful. It would give you a roadmap on how to achieve some of those key objectives. Is that helpful? Why, yeah, because, you know, how are you gonna get there? What if, instead of hoping hoping for somebody to see your brilliance, to actually create the roadmap that gets you to that goal that you wanna get to? What about if it, a strategy will help you to establish these guiding rules and principles. Your own rules and principles. Not mine. Yours. Because yours might be completely different than mine. Some people are very you know, people-oriented and they must make sure that people are taken care of. Some people are more into processes. So what are these rules and principles that we're implementing? And then, finally, and sort of, you know, strategy in one word. The strategy is the path. And I'm just gonna show this to you really quickly, so you can all see this, because I filled this out myself. I'm very proud of myself that I did that, because I think it's easy for you to, you know, just see some of these example. But you know, again, this isn't necessarily about mine. I'm just gonna give you the parameters. This is the box and we are playing in the box. And sometimes, and I heard this by a wonderful speaker a while ago and she said, sometimes it's not always about playing outside the box, sometimes it's about looking what's in the box and reassembling it. And I really like that. So what if we don't go outside the box this time? What if we look inside the box and we just take everything that we have in the box and we are reassembling this?