A plan may let us sleep well, but it's not a strategy. A strategy is a framework of measures - not the measures.
The trap of time- and cost-based thinking
To build a strategy is a wicked problem. It is about taking risks and facing an unknown future. There are groups to consider you don't know who they are but will be affected by the decisions you make now ….. it is uncomfortable, consequently many turn into a more comfortable activity: strategic planning - visions and missions, initiatives and a map into the financials. Planning is usually based on time- and cost-baesd thinking - it rarely contributes to company performances.
The trap of self-reference
If you have avoided the planning and cost trap don't forget to focus on the revenue decision makers that influence your business most: clients. Don't overestimate your capabilities and resources.
This thinking often let see you great opportunities and encourage a bad strategy.
Get out of your comfort zone
It is comfortable to think everybody is your customer, so you just need a sales plan. But you better focus, make your strategy simple, without searching for perfection and explain the rationale and logic explicit. This usually makes you uncomfortable?
At UnRisk we decided to Arm David applying a kind of Reverse Innovation approach (make big systems for the small first and sell to larger market participants later) and provide Know-How Packages. We stretch and expand from core markets segments, where we became market leaders. We remove every barrier from usage, cost and operation. Our information policy is characterized by openness and transparency (there is enough risk in financial markets - operational risk of black boxes and hidden information must be removed).
This leads to the UnRisk Brand Promise: with our offerings, small market participants can conserve capital, set the stage for successful investment and risk management, leverage technology and build quant finance skills.