The 8 Building Blocks to your Strategy

A lot of startups are questioning how to build a compelling strategy. The board of directors (BoD) is responsible for the strategy of the company by law. Normally the BoD gives the instruction to the management, to work out a draft of the strategy. The draft will be discussed, shaped and approved by the BoD afterwards. In most of the startups I met, the BoD and management is identically. For those founders who have no experience in working out a compelling strategy, here is a short guideline: The 8 building blocks to your strategy

1.) Mission: Why does our startup exists?

2.) Vision: What does our startup want to become if it grows up?

3.) Scope: Where do we play, where do we spend the money effectively?

4.) How to win: How do we create a unique competitive advantage?

5.) Value Pathways: How do we monetize our competitive advantage?

6.) Core Process: What capabilities and processes must we put in place?

7.) Financial Forecasting: How much capital do we need to have enough liquidity?

8.) Must win Priorities: Which are our most important goals within the next 12 - 36 month?