Why you need a "Big S" strategy

Key Concepts:

• Big Strategy: A strategic approach that incorporates an aspirational and "cool" component alongside problem-solving.
• Mission and Vision: The fundamental purpose and desired future state of a company.
• Long-Term Cultural, Social, Competitive, and Technological Trends: Macro-level factors that shape the future landscape.
• Leadership Interviews (Future-Oriented): Interviews with leaders focused on generating long-term visions and possibilities.
• Future User Day-in-the-Life: Envisioning the daily experiences of users in the future (5+ years).
• Product Vision (5-10 Years): Defining the desired state of the product in the medium to long term.
• World Improvement (10 Years): Articulating how the world will be better as a result of the company's efforts.
• Most Exciting Version of the Future: Identifying the most compelling and inspiring vision of the future.

The Importance of Aspirational Strategy

The core idea is that companies, regardless of size, need more than just problem-solving in their strategy. Elon Musk's quote, "life has to be about more than just solving problems," is used to illustrate this point. A "cool" and aspirational component is essential for a compelling strategy. This is referred to as "big strategy."

Building a Big Strategy Framework

1. Foundation: The process begins with the company's mission and vision. This provides the fundamental direction.
2. Environmental Scan: Groundwork is laid by analyzing long-term cultural trends, social trends, competitive trends, and technological trends. These trends serve as the backdrop for generating ideas.
3. Future-Oriented Leadership Interviews: Leadership interviews are conducted, but with a specific focus on generating long-term futures. The goal is to envision possibilities rather than solve immediate problems.
4. Envisioning the Future: The interviews aim to answer key questions:
   • What does a day in the life of a user look like in 5 years?
   • What does the product look like in 5 to 10 years?
   • Why is the world better in 10 years?
   • What is the most exciting version of that future?

Synthesis/Conclusion:

The key takeaway is that effective strategy requires a balance between addressing current problems and envisioning a compelling future. By incorporating an aspirational element and considering long-term trends, companies can create a "big strategy" that inspires both internal teams and external stakeholders. The process involves understanding the company's core purpose, analyzing the external environment, and engaging leadership in envisioning a desirable and exciting future.