Bootstrapping as a business strategy

Bootstrapping as a business strategy

Bootstrapping is a technique used by individuals in business to overcome obstacles, achieve goals and make improvements through organic, self-sustainable means with no assistance from outside. It basically means to found or start a business using personal assets (such as savings, sweat equity, low operating costs, and fast cash sales turnaround) in the absence of […]

How to Compete with The Big Guys as a Small Business

Taking on a large corporation in an industry can seem like an insurmountable task for a small business. The fact is that many small companies cannot compete because they cannot lower prices enough to beat the large competitor. While some of these companies cannot compete with corporations, there are plenty that are able to take […]

Should you rely on internal or external strategy experts? Part 3: How to combine them for best results

How to work with internal and external strategy consultants

Strategic planning and the related tasks can be challenging activities for any organization – small or large. Some are large enough to have a team of internal strategy experts. Others rely on external consultants. This part of my article series discusses how to make the best choice between internal and external strategy experts and how […]

Should you rely on internal or external strategy experts? Part 2: The pros and cons of external strategy consultants

Pros and cons of external strategy consultants

Strategic planning and the related tasks can be challenging activities for any organization – small or large. Some are large enough to have a team of internal strategy experts. Others rely on external consultants. This part of my article series discusses the advantages and downsides of external strategy consultants.

Should you rely on internal or external strategy experts? Part 1: The important role of in-house strategy experts

Pros and cons of internal and external strategy experts

Strategic planning and the related tasks can be challenging activities for any organization – small or large. Some are large enough to have a team of internal strategy experts. Others rely on external consultants. Other options are to delegate strategy-related tasks to a member of the management team or to skip it at all (which […]

The many faces of the strategist

A strategist has many roles and many faces

The job description of a professional strategic planning manager or a strategist is manifold. Similarly, expectations on the strategist are diverse. It seems as if almost anybody has his own unique idea of the traits, tasks, and responsibilities of a strategist. Not surprisingly, these many facets are fairly contradictory. Hence, a strategist is torn between […]

Measurements and indicators – You will only get what you ask for!

Sample image for an early indicators dashboard

Measures and indicators are important tools for every manager. They tell us how we have performed in the past (lagging indicators) or what to expect in future (leading indicators). It is common sense that business-related measures and indicators help managers to make better decision. However, the value of these measures largely depends on a wise […]

Strategy making in the past and today – Part 2: Problems with the traditional strategy process

This part two of our article series about traditional and new approaches to strategy development looks at the problems related to the traditional strategy process. They mainly arise from today’s dynamic and unpredictable business environment – a condition that the original process was not designed for.