(Pictured: Sierra Nevada Mountain Range, near Lake Tahoe)

The future is filled with so many options.

From each mountain peak, you have the ability to scan to see your next objectives. However, in between, is a journey filled with unchartered valleys, glaciers, false summits, and freezing temperatures. Knowing how to get to your next destination, can be the difference between success and failure. This is why it is important to master the art of strategy.

If you haven’t read it already, I highly recommend, Your Next Five Moves: Master the Art of Business Strategy, by Patrick Bet-David.

Every employee within a company should know where you are heading next. And they should know how they are going to get there. Simply put, this is strategy. Everyone should not only know what we are working on now, but we also should know what are the next big milestones that need to be completed to reach your destination.

1. Master Knowing Yourself – Looking in the future; where you want to be
2. Master the Ability to Reason – Use Data; not just emotion
3. Master building the right team. We use Gallup Clifton Strengths to identity what talents that we need in our future to succeed
4. Master strategy to scale – Can you run your biz without you there? The great CEOs learn to fill-in the missing pieces and this adds value to your biz if you want to sell it in the future.
5. Master power plays – Take calculated risks using the Pareto Principle or the 80/20 rule. We have a tool to identify which value drivers will create the most value BEFORE you start working on it.

(Picture: The 80/20 Rule)

Use these 5 key strategies to help grow the value of yourself and your business.

Patrick highlights 5-key principles to scale your business and this is how we apply them at 40 Strategy with our clients:

• Master Knowing Yourself: It’s crucial to understand what you want and to start acting like the person you aim to be from the beginning. Whether you’re aspiring to be a great programmer or lead a successful company, adopting the mindset and behaviors of your desired role early on is fundamental.

We believe in finding your vision of who you want to be in the future and what it will look like as a result of your contributions. We believe in looking further than your strategic plan, 5 to 10 years in the future. Think Big!

• Master the Ability to Reason: Effective problem-solving and decision-making are central to this move. It involves developing the skill to process issues, make decisions based on available information, and take responsibility for outcomes. Embracing challenges, asking questions, and focusing on permanent solutions are part of becoming a great processor.

When possible, use data to support your decision-making. Continue to ask yourself what could we be doing better. Strive to be curious. Earlier in my career, I was just focused on solving the problem. Today, I ask more questions to provide clarity as to why and is there a better way to solve the problem – not just your first instinct.

• Master Building the Right Team: Success often hinges on working effectively with others. Building a team requires a focus on giving rather than taking, defining the benefits you offer, and understanding what motivates each team member, including recognizing their preferred “love languages” and creating a replacement game plan for key positions.

Regardless of your company size, whether you are a solopreneur, or running a $100 million dollar business, you have to find the right players on your team to maximize your effectiveness. We regularly use Gallup CliftonStrengths to analyze our current team’s natural capabilities and understand our weaknesses. A team strengths matrix can help everyone communicate more effectively with each other.

• Master Strategy to Scale: This involves making your business independent, reducing reliance on any single individual, and developing formal agreements and business systems that ensure the organization can grow and adapt over time.

One of the biggest challenges of entrepreneurs is letting go. It is a key value driver if you are considering selling your business, or actually take a vacation. An acquiring company sees greater value when the company can still run when the CEO is not around.

• Master Power Plays: This encompasses a range of strategies from anticipation, playing offense with preemptive strikes, taking calculated risks, strategically positioning in the market, building a strategic network, making timely decisions, utilizing emotional intelligence, innovating and adapting to change, effective communication, and executing strategies with precision.

We are big believers in taking calculated risks. As we develop a strategic plan, we use the Pareto Principle, aka, the 80/20 rule to focus on the most key opportunities that will have the greatest potential impact combined with the greatest chance of success. According to SixSigma.com, the Pareto principle helps organizations make more informed decisions. However, we do recommend focusing on fewer strategies and getting them done well; rather than having too many and getting overwhelmed.

Measure Success Podcast

Laura Casselman | Unlocking the Secrets to Strategic Growth

This past week, we dropped the episode with Laura Casselman, CEO of JVZoo.com. She shared her extraordinary journey from performing as a Radio City Rockette to leading a tech giant. This episode is a deep dive into the world of strategic business growth, affiliate marketing excellence, and the balance of personal and professional life. It offers invaluable insights for entrepreneurs and business leaders alike.

Vladimer Botsvadze | Happiness & Success: Vladimer Botsvadze’s Winning Formula

Next, we release our episode with Vladimer Botsvadze, a visionary leader and globally recognized digital transformation strategist. Vladimer shares his profound insights on social media and personal brand. He shares how happiness is the cornerstone of success, both personally and professionally.

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