What are the 4 fundamentals of a strategy?

Okay, so you wanna know the four fundamental things you need for a solid strategy? Honestly, it’s not rocket science, but it’s also not as simple as it sounds. It’s like, remember that time I tried to bake a cake without measuring anything? Total disaster. Same goes for strategies.

I think the most important thing is having a clear goal – like, what are you actually trying to achieve? Long-term goals are your foundation. Think of it like the basement of your dream house – you can’t build anything without a strong base. For me, when I finally decided to start my own business, that was my goal – financial independence, doing something I love. It was a HUGE goal, but I knew exactly what I wanted to build.

Then you need to figure out the scope of your project. How big is this thing going to be? Are we talking a cozy cottage or a sprawling mansion? You need to define your boundaries, you know? Otherwise, you end up spreading yourself too thin, trying to do everything at once and failing miserably (like that time I tried to learn five new languages all at once. Yeah, not pretty).

Next up? Competitive advantage. What makes your strategy special? What’s the thing that’ll make people choose you over everyone else? This is the unique selling point. It’s like that one recipe that your grandma made, that nobody can duplicate. I’d say the thing that set my business apart initially was this super unique approach to customer service – people loved it.

And finally – and this is often overlooked, but it’s seriously crucial – the execution plan. This is the how. How are you actually going to achieve your goals? What steps are involved? A fantastic idea is useless if you don’t have a way to make it happen. It’s like having the blueprints for that dream house, but no tools or construction crew. You’re just staring at the paper. I think a lot of people get caught up in the idea and forget that the hard part is actually doing the work.

So yeah, four things: clear goals, defined scope, competitive advantage, and a rock-solid execution plan. Miss any of these and…well, you’re probably heading for trouble. Just like my disastrous cake-baking attempt. Learn from my mistakes, people!