The First Question To Ask Of Any Strategy

Strategy is about making choices. This much is already known.

But, what really qualifies as a valid strategic choice?

A strategic choice is a valid one if its opposite does not look stupid!

Example: Consider a global wealth management business “Where to Play” choice below:

To target wealthy individuals who wanted and were willing to pay for comprehensive wealth management services.

Is the above a valid strategic choice?

No! But, why?

Because the opposite of the above choice would be:

To target poor individuals who don’t want and aren’t willing to pay for comprehensive wealth management services.

No competitor would make such a stupid choice! Hence, each competitor would make the same non-stupid choice as this company. So, there will be no differentiation at all!

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