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TSS 2011 David Maher Roberts Responsive Strategy Bath 1 Dec 2011
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TSS 2011 David Maher Roberts Responsive Strategy Bath 1 Dec 2011 Presentation Transcript

  • 1. Responsive Strategy Tech Start-up School 2011 David Maher Roberts, CEO, The Filter @davidpmr / dmr@thefilter.com
  • 2. HEALTH WARNING The content of this presentation does not constitute a definitive guide to business strategy and strategic planning. I am not an expert in strategy orstrategic planning. I am not an academic.You have been warned. :)
  • 3. The aim tonight‣ Purpose of business strategy‣ Ideas on how to develop one‣ When to change / stick
  • 4. What is business strategy ?
  • 5. “What’s the use of running if you are not on the right road.” German proverb
  • 6. Answers key questions ‣ What do we do? ‣ For whom do we do it? ‣ How do we excel?
  • 7. A strategic planCombines end goals, roadmap & what you need to deliver
  • 8. Planning methods‣ See - what is todays situation?‣ Think - define goals/objectives‣ Draw - map a route to achieving the goals/objectives
  • 9. Defining & Communicating1. Name & tagline 6. Competition2. Vision & Mission 7. SWOT Analysis3. Market & Problem 8. Business objectives4. Product / Solution 9. Marketing Strategy5. Value proposition 10. Review milestones
  • 10. “In strategy it is important to seedistant things as if they were close and to take a distanced view of close things” Miyamoto Musashi
  • 11. A strategy must be...• Sharply defined and built around a clear value proposition• Clearly communicated• Well understood by all: Customers, Employees, Partners, Investors• Frequently reviewed• Easy to fine tune based on external factors e.g. new technology, social trend, regulation, competition, etc...
  • 12. So, once that’s done,everything is great, right?
  • 13. Hidden flaws to watch out for• Over confidence• Mental accounting• Status quo bias• Anchoring• The sunk cost effect• Herding instinct• Incorrect estimate of future hedonic states• False consensus
  • 14. Reviewing your strategy
  • 15. “However beautiful the strategy,you should occasionally look at the results.” Sir Winston Churchill
  • 16. Strategy mistakes areharder to admit than execution mistakes
  • 17. The average of twostrategies is usually not a strategy
  • 18. Reviewing strategy• Deep knowledge of market and trends• Review results & external factors• Question and test your strategy• Seek regular advice (Advisory Board / Non Execs / Experts)• Develop plays to further test strategy• Be prepared to change strategy fast
  • 19. Reasons to change Does your product/service better suit an adjacent industry/sector?1. Is your product more of a feature?2. The market opportunity is not that big3. Competition has matched your product/service and got better traction4. A killer new trend that propels your product/service5. Core mission can be same, but go to market may need to be changed
  • 20. Example 1: Canals
  • 21. Example 2: Future
  • 22. Example 3: Major Labels
  • 23. Example 4: Nokia
  • 24. Example 5: The Filter “ The Filter is a life jockey, offering people freedom from thetyranny of choice. It is a smart online companion that transforms the user experience because it understands and caters to the user’s tastes and moods” Peter Gabriel
  • 25. Thank you for listeningAny questions or comments?