Developing a clear business strategy is a must for success, and much easier said than done. Check your current organizational strategy against these insights provided by a former Netflix employee. See the full article at “How to Copy Netflix”.
- Strategy is, by definition, “a careful plan or method for achieving a particular goal usually over a long period of time.” Always make sure you know where you’re going.
- Being clear guides tactical execution and informs what you should and should not do.
- The Netflix brand position was, “The best way to rent DVDs.” This provided no real foundation to generate future messaging and not a clear understanding of what we needed to be for the consumer in order for them to consider our offer.
- The brand position became, “Movie enjoyment made easy.” From that point on, everything had to play off that position.
- A well-researched brand position provides strategic guidance for everything the company does.
- It is always a good idea to gut-check decisions along the way. Even if it comes at a short term-pain, reversing a decision to align to the long-term strategy for the bigger payoff is the right thing to do.
- Strategic thinking as applied to company culture provides clarity for everything from hiring to policy development and can lead to amazing gains.
- A clear strategy for your offering allows for clear consumer understanding and adoption. It can also help guide pricing structure, product/feature development, and more.