The key question for you: Can you and your team state your firm’s strategy simply – and is it driving sustainable growth in revenue and gross margins?
Last year my local rugby club held a fundraising lunch – the guest of honour was Ray Price, OAM.
For those that have never heard of Ray, he played both rugby union and rugby league for Australia. His rugby league team won four NSWRL premierships. Ray was awarded a Dally M Medal and a Rothmans Medal. He also played in State of Origin for New South Wales.
During the lunch Ray was asked who was the most influential person in his life.
He answered that his coach, Jack Gibson OAM.
One anecdote stood out to me from Ray’s comments that we can all take into our business and personal lives.
Gibson coached to kick the ball into open spaces rather than into the opposition’s hands.
Seagulls often congregate on empty spaces on sports fields!
His message was to play where your competitors are not.
Create a strategy that avoids competing with rivals on the same dimensions.
So what is strategy?
The definition that I like the best is from Michael Porter – director of Harvard Business School’s Institute for Strategy and Competitiveness.
“Strategy is the creation of a unique and valuable position, involving a different set of activities (from competitors). The essence of strategy is choosing what not to do.”
A key question for you
Can you and your team state your firm’s strategy simply – and is it driving sustainable growth in revenue and gross margins?
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Scale Up Growth Partners is an Australian Business Advisory and Coaching firm that works with mid-market growth companies with revenue between $1M and $100M. We equip growth company leaders and executive teams with the knowledge and tools they need to scale their businesses.Scale Up Growth Partners purpose is to Grow Remarkable Leaders and Companies.
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