Where to Play, How to Win
Make Clear WTP/HTW Choices
In essence, strategy creation is simple.
After having defined your vision and set clear goals and objectives, building a strategy comes down to making choices: where to play, and how to win where you choose to play.
Choices about your markets, customer target groups, product or service categories and distribution channels. And then of course, defining what it will take to be successful in each of those areas.
Or, in short, WTP/HTW.
“The essence of strategy is choosing what not to do.
Strategy is about making choices.”
Michael Porter
American Academic
Design Your Strategy: Playing to Win
Working with Nextrday means designing your strategy in steps. We will use all the great work you have done so far and leverage the expertise, knowledge and skills in your organization. And then, it is about making choices.
One of the fundamental strategy frameworks we really like is Where To Play & How To Win. Or WTP/HTW.
Key Insight
What opportunity do you see in the market and/or which is the main customer need that you will address?
Where To Play
Where will your organization compete? Here, it is about clearly choosing the market segments, customer target groups, regions, cities, channels, products and services, even industries to focus on…. Where do you want to play?
How To Win
And of course, you are playing to win. So once you have decided where you want to play, it is time to outline how you will win there. What are the value propositions you will offer in your chosen markets? How will you outcompete your competitors? What will your brand position be and how will you reach your target customers? Will you focus on innovation and premium offers or go for value and low cost? And what does your go to market model look like?
Food For Thought
“Strategy without tactics is the slowest route to victory.
Tactics without strategy is the noise before defeat.”
Sun Tsu
Ancient Chinese Military strategist
Build Your Strategy with Your Teams.
Team up with your coworkers and create your strategy with your team. You will not only end up with a better strategic plan, but it will help with the adoption and execution of your strategy as well.
And you might have more fun along the way!
