STRENGTH IN STRATEGY
Objective self-assessment is further complicated by our own assumptions and bias. We often over or underestimate our capabilities and our influence on external factors. This can cause overconfidence that can lead to stagnation or decline, rather than growth.
Finding a way to have a long hard look in the mirror will go a long way to understanding where you stand and your available options. This applies not only to those who are unsure where they stand, but I implore those on the acquisition trail to undertake a similar exercise.
80-car fleets purchase 25-car fleets, 150-car fleets purchase 80-car fleets, super fleets purchase large fleets. This is the industry we are living in.
WHAT DOES THIS MEAN FOR ME?
How you react to the “new normal” (covid flashbacks aside), is entirely up to you. Sun Tzu is quoted as saying “In the midst of chaos, there is also opportunity.” I’m inclined to agree, for those who understand their place in their market and how to capitalise on the chaos.
Who will you be in this market? The hunter? The prey? Or the person who sees clear ground to grow away from the hunters and their prey?
This is largely up to you and how you face the reality that you’re in. I will never forget being told by a relatively small operator that they would take down Uber - a noble cause, but utterly unrealistic.
There are many out there that advocate for businesses and entrepreneurs alike to shoot for the stars so you can still land on the moon if you fall short. That may work for a select few, but that will not help if you are not in the business of space exploration.
Your time and effort are better spent on the factors that you can influence, that can make a difference and can provide you with a competitive advantage. Admittedly, this is not an easy task. It is often very difficult for us to objectively assess our situations when we are living them day to day. Imagine trying to understand the layout of a battlefield when you are stuck in the trenches, you probably can’t with any degree of accuracy.
PHTM APRIL 2022
Strategy can be the difference between success and failure. When I say strategy, I don’t refer to goals or values; I refer to actionable challenges we face that we can address to change our reality.
BENEFITS OF STRATEGY
There are a number of benefits that a clear well- defined strategy can provide:
• Clarity of purpose: When everyone in your business knows what the business is trying to accomplish, the business as a whole is likely to reap the rewards of coherent actions.
• Discipline: Your business will not only know what to do, but what not to do. Doing nothing is a decision.
• Focus: By combining the above points, your business can benefit from increased focus. Leveraging its resources where it matters rather than throwing mud at a wall in a feeble attempt to see what sticks.
If good strategy was easy, everyone would be succeeding. It takes time and effort to devise a good strategy and discipline to see it through. I have only touched the tip of the iceberg here, but wanted to focus the mind of the reader, strategy is how you react to chaos.
Strategy can seem like a buzzword; I know it did to me for a long time. But it can be your greatest weapon.
What you do next is up to you. If you have any questions about stratgey
formulation or workshops, reach out to us at
conor@boira-consulting.co.uk
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