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Defining your strategy = making choices. You will choose some option, and not choose others. This is not the same as “forgetting to account for some choices.” While the text book will imply this is a methodical and thoughtful approach (or should be), in reality, it is organic and messy. Because of time pressure and lack of information, you will not have the complete set of choices in front of you when you pick. You’ll have to do the best you can and hope you will get a chance to refine your choices.

If the stakes are high, you will have to fund/find time and effort to list and review your choices. Thus, the larger the company, the more convoluted and arduous the annual strategy planning process. The smaller the company, the more nimble, but also the more “shoot first, ask questions later” the approach.

The second point about strategy (the first being “choice”) is that it must be game changing. You must strive to make a choice that is different, is remarkable, and gives you a competitive advantage. If your choice is not game changing, then your strategy has limited business value. “Coping” and “hoping” is not a strategy.

The third point about strategy is that it can be at various levels. At the highest level, there are strategic choices to make about the company identity, its customers, and business practices. At a more “mundane” level, strategic choices have to be made about operations, but these must align to higher level strategic choices.

Some choices are easy to change, but other choices may confuse your customer. So choose wisely. The books make it sound easy, and it should be, if you truly understand your customers. If you are struggling, you need to get out there and talk to your customers. It is rare if you are able to say, “I know what the customer wants” and succeed without checking with them.

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Read the intro and #1 to prepare for this step.

You are now ready to visualize the future that will be created when you keep your promise. Since this is about the future and not about the present, your visualization will, by definition, not be true today. In fact your listener may even be skeptical, they may not be able to see how you can achieve your vision with your current capabilities. Your vision has to be worded to draw in the naysayers and convert them from skeptics to sponsors.

No one likes post-dated checks, therefore your visualization has to be compelling enough for the listener to wait for it to become a reality. The listener has to say, “Yes, I want that!” The vision has to inspire people to aspire for the vision. Ideally, the listener will want to participate in achieving the vision.

It is likely you will start with a vision, not a promise. There is nothing wrong with that, make sure you clarify your promise after you have drafted your vision statement. If you have a vision, your promise exists, you just need to tease it out and find the right words to express it.

(Thanks again to Kate for the insight)