Fail to plan - plan to fail! exactly how true is this? In this episode Hugh Page from IVConsulting talks about why both strategic planning and execution are key to business success and sustainability. Hugh talks about the 5 components of the IVC strategy blueprint. Firstly deciding on a mission or the why of your business. Then identifying what your customers' problems are and how you might go about solving them. The next step is developing the activities that will solve those problems. Finally it's about measurement to make sure that what you are doing is actually solving your customers problems. Using the example of IKEA, Hugh explains how creating a unique value proposition to meet customer’s needs can also make a business model hard to replicate. He also discusses why strategy is a key in moving from Working In to Working On a business.
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