The document provides an overview of responsive business strategy for tech startups. It discusses that the purpose of business strategy is to answer key questions about what the business does, for whom, and how it excels. An effective strategic plan combines goals, a roadmap, and what needs to be delivered. The document outlines common strategic planning methods and elements like vision, objectives, and reviews. It warns of potential flaws in strategy like overconfidence and provides examples of when strategies may need to change, such as if the market opportunity is smaller than expected or if competition gains traction. The key takeaway is that strategies need regular review and testing to ensure they remain effective in light of changing market conditions.

1. Responsive Strategy
Tech Start-up School 2011
David Maher Roberts, CEO, The Filter
@davidpmr / dmr@thefilter.com

3. 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 or
strategic planning. I am
not an academic.
You have been warned.
:)

4. The aim tonight
‣ Purpose of business strategy
‣ Ideas on how to develop one
‣ When to change / stick

5. What is business strategy ?

6. “What’s the use of running if you
are not on the right road.”
German proverb

7. Answers key questions
‣ What do we do?
‣ For whom do we do it?
‣ How do we excel?

8. A strategic plan
Combines end goals, roadmap &
what you need to deliver

9. Planning methods
‣ See - what is today's situation?
‣ Think - define goals/objectives
‣ Draw - map a route to achieving the goals/objectives

10. Defining & Communicating
1. Name & tagline 6. Competition
2. Vision & Mission 7. SWOT Analysis
3. Market & Problem 8. Business objectives
4. Product / Solution 9. Marketing Strategy
5. Value proposition 10. Review milestones

11. “In strategy it is important to see
distant things as if they were close
and to take a distanced view of
close things”
Miyamoto Musashi

12. 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...

13. So, once that’s done,
everything is great, right?

14. 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

15. Reviewing your strategy

16. “However beautiful the strategy,
you should occasionally look at
the results.”
Sir Winston Churchill

17. Strategy mistakes are
harder to admit than
execution mistakes

18. The average of two
strategies is usually not
a strategy

19. 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

20. 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 big
3. Competition has matched your product/service and
got better traction
4. A killer new trend that propels your product/service
5. Core mission can be same, but go to market may
need to be changed

21. Example 1: Canals

22. Example 2: Future

23. Example 3: Major Labels

24. Example 4: Nokia

25. Example 5: The Filter
“ The Filter is a life jockey, offering people freedom from the
tyranny 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

26. Thank you for listening
Any questions or comments?