Fish with bait, not the whole fish

I know it seems intuitive for companies to take things in small steps  and plan ahead a bit. I liken this to fishing with bait, measured and controlled. Under such circumstances, there is frequently a bit of data that can be collected telling us if we are fishing at the correct depth using the right bait, and more importantly if we are getting the fish we are looking for,

Once we determine a successful approach has been achieved, we tend to lose our objectivity and decide to throw caution to the wind. The net result of this lack of prior data analysis makes for a costly fishing expedition.

Moral of the story is as follows: Have a plan of action and follow it.constantly reassess the data being gathered in order to stay with the plan. Integrate data feedback loops into the process so that your data is constantly updated based on newly collected data..In your excitement, don't through  the whole fish overboard as bait or your little data gathering trip will come to an abrupt stop.

Why "Why" is Important

The other day, I was sitting in a coffee shop reading my newspaper when I happened to overhear a conversation at the next table.


One gentleman was telling another about a marketing position he was trying to fill in his company and he was highlighting the job's duties. Central to his outline was how critical it was to design the appropriate marketing collateral and get in front of the customer. In his words, this was the crux of strategic marketing.


Having thought for a while about what I had just overheard, I realized that the questions pertaining to strategy often disappear from rational thought when we discuss business issues. We are often so enamored with the sexiness of execution we fail to ask the most fundamental question of all, 'Why?".


In it's most fundamental form, strategy revolves around "Why?". In business, this should be our reason for being, followed closely by "How?". I have sometimes been known to utter: "Let those that do, do", but perhaps a better opening gambit is to say "Think first, think why, then do".


Although the process of asking "why" might seem like it would take more time on the front end, I am convinced that once the reason for action is clearly defined, the action itself becomes more easy to implement.