7 Laws of strategy

1. Strategy is difference

Not by degree (we think we’re better than others at X).

But by kind (we do X / offer X / provide X in a completely different way to others).

The OG of business strategy, Michael Porter, described great strategy this way:

"Establish a difference you can preserve."

2. Strategy is doing

If we're not doing something differently we're not following a strategy.

How does the peculiar set of the things we’re doing ladder up to enable our big, strategic difference?

Back to Porter:

"Choose a different set of activities to deliver a unique mix of value."

3. Strategy is choice

We choose X not Y in order to create and deliver our distinctive offer.

So we must choose what NOT to do.

If we don’t feel like we’re making explicit, tough choices, then we’re not being rigorous with our strategy.

4. Strategy is creative first

This isn’t about gathering reams of data and spreadsheets.

It’s first and foremost about creating a picture of a possible future.

It demands imagination.

5. Strategy is a killer question

What would need to be true … for this to be the right strategic choice?

This is where data and analysis come out to play.

Once we’ve created our future, work backwards and plot the steps we would need to take to get there – and how the world would need to look for it to be possible.

6. Strategy is risky

Because there’s a big gap between today and our imagined future.

Our strategy is how we try and bridge it.

It has logic and internal coherence.

But there are zero guarantees.

7. Strategy is a single page

If we can’t fit this strategy onto a single page, communicated in a compelling way, then we’re not going to get our team or investors to buy into it.

Clarity counts.