What Strategy Really Is (And Why Most Companies Get It Wrong)

Published On - January 21, 2021

Ted Bonel 2. STRATEGY

Every business says it has a “strategy.” Yet most confuse it with goals, plans, or visions.
True strategy isn’t a slogan or a spreadsheet — it’s the set of clear, disciplined choices that define where you will compete, how you’ll win, and how you’ll create value for customers and investors.

The Essence of Strategy

In its simplest form, strategy is the sum of an organisation’s choices:

  • Where it will play.
  • How it will win.
  • Which capabilities and systems it will build to make those choices real.

A company that tries to be all things to all people will spread its resources too thin and fade into mediocrity. In business, focus is oxygen.

“If you chase two rabbits, both will escape.” — Chinese Proverb

  1. Choosing Where to Compete

Great strategy starts by answering five powerful questions adapted from Roger Martin’s Play to Win framework:

  1. What is your winning aspiration? (Your purpose or BHAG — Big Hairy Audacious Goal.)
  2. Where will you play? (Which customers, markets, or geographies matter most?)
  3. How will you win? (What makes your offer compelling on that playing field?)
  4. What capabilities must you have to win? (People, processes, technology, partnerships.)
  5. What management systems will enable and reinforce these choices?

It’s as important to decide what not to do as it is to decide what to pursue. Strategy is choice — and choosing requires courage.

  1. Creating Superior Value for Your Customers

To win, your product or service must deliver more value than anyone else.
That means understanding your customers deeply — what drives their decisions, what frustrates them, and what they truly care about.

Ask yourself:

  • What problems do we solve that truly matter to our customers?
  • Why would they choose us, and stay with us, over anyone else?

A compelling value proposition should make this crystal clear. It’s the story of why your business deserves to exist — and why your customers are better off because it does.

  1. Generating Superior Returns for Investors

Superior strategy leads to superior performance.

By making the right strategic choices — and executing them with discipline — you create a business that grows profitably, attracts loyal customers, and rewards its investors.

Let’s explore how I can help your team scale with clarity and confidence. Contact me at tedb@strategyandexecution.com.au to schedule a free 30-minute discovery meeting.
It’s not luck. It’s not hustle. It’s clarity.

To Scale Up your business! Take our Scaling Up/Four Decisions Needs Assessment to discover how your business measures against other Scaled Up companies. We’ll contact you.

TED BONEL, SCALING UP PRACTITIONER – STRATEGY & EXECUTION BUSINESS ADVISORS

Are you looking to scale your business and execute strategy with clarity and impact? I help CEOs and founders turn big ideas into real-world results, guiding small to mid-market companies through tailored strategic insights that drive growth.

My expertise lies in simplifying complexity – bridging high-level strategic frameworks with the practical realities of running a business. Unlike many consultants who focus solely on theory or execution, I specialise in both—translating strategy into actionable, transformative steps that deliver lasting results.

Let’s explore how I can help your team scale with clarity and confidence. Contact me at tedb@strategyandexecution.com.au to schedule a free 30-minute discovery meeting.

 

ABOUT STRATEGY & EXECUTION

For over 20 years, Strategy & Execution has supported leaders and organisations in developing and executing winning strategies. We provide expert facilitation, executive education, and hands-on consulting to help businesses refine their strategic direction and implement it effectively.

Using proven methodologies like Scaling Up, E-Myth Mastery, Outthinker, and more, we challenge conventional thinking and equip organisations with the tools to accelerate growth. Our approach is dynamic—combining deep business experience with practical execution. We don’t just advise; we roll up our sleeves and work alongside you to make strategy happen.

If you’re preparing for a strategy development or execution challenge and are committed to creating real value, we’d love to hear from you. Learn more about our work or upcoming workshops.

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