The Mother of All Business Strategy Questions
This week we are focusing the spotlight on a guest author, Ed Kless. Ed is the Senior Director of Partner Development and Strategy for Sage North America. He continues to be an invaluable mentor and friend.
Most business leaders are asking the wrong question when it comes to developing their business strategy. Ed points out what we should really be asking ourselves.
Although the original audience for Ed’s article is the Sage partner community, I believe that every business can benefit from his insights into business strategy.
In my last workshop that I conducted for Sage partners on developing business strategy in small- and medium-sized businesses, I believe I have stumbled across the Mother of All Business Strategy Questions – MOASBQ.
Most strategy sessions begin with the following premise: How much revenue do we need to make (in the time period for the plan) and how are we going to achieve it?
The MOASBQ shifts the question to: How much value are we going to create for our customers (in the period) and how are we going to do that?
For the past 6 months I have been delivering these workshops all across the United States. There is nothing like teaching a subject over a sustained period of time to help you clarify your thoughts.
I believe this is the case because of the number of times I have been challenged by the participants in these workshops. So, to those of you who challenged me, thank you!
To read more of Ed’s articles, please visit his blog.