{"id":5573,"date":"2022-05-30T00:58:30","date_gmt":"2022-05-30T05:58:30","guid":{"rendered":"http:\/\/mariusbill.com\/?p=5573"},"modified":"2022-12-29T05:11:09","modified_gmt":"2022-12-29T05:11:09","slug":"business-mastery-for-entrepreneurs-part-27-what-is-the-best-strategy-for-your-business-tool-xx-visionary-business-strategy","status":"publish","type":"post","link":"https:\/\/mariusbill.com\/de\/business-mastery-for-entrepreneurs-part-27-what-is-the-best-strategy-for-your-business-tool-xx-visionary-business-strategy\/","title":{"rendered":"Business Mastery for Entrepreneurs \u2013 Part 27: What is the Best Strategy for Your Business? \u2013 Tool XX \u2013 Visionary Business Strategy"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-5574 alignleft\" src=\"http:\/\/mariusbill.com\/wp-content\/uploads\/2022\/05\/Blog-Post-34-Tool-XX-final-scaled-1-300x170.jpeg\" alt=\"\" width=\"489\" height=\"277\" srcset=\"https:\/\/mariusbill.com\/wp-content\/uploads\/2022\/05\/Blog-Post-34-Tool-XX-final-scaled-1-300x170.jpeg 300w, https:\/\/mariusbill.com\/wp-content\/uploads\/2022\/05\/Blog-Post-34-Tool-XX-final-scaled-1-1024x580.jpeg 1024w, https:\/\/mariusbill.com\/wp-content\/uploads\/2022\/05\/Blog-Post-34-Tool-XX-final-scaled-1-768x435.jpeg 768w, https:\/\/mariusbill.com\/wp-content\/uploads\/2022\/05\/Blog-Post-34-Tool-XX-final-scaled-1-1536x869.jpeg 1536w, https:\/\/mariusbill.com\/wp-content\/uploads\/2022\/05\/Blog-Post-34-Tool-XX-final-scaled-1-2048x1159.jpeg 2048w\" sizes=\"auto, (max-width: 489px) 100vw, 489px\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">In today\u2019s article I will share a brief introduction to the visionary approach to strategy and show when you could use this strategy.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>When is the visionary approach to strategy the right choice? <\/b><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Your company should consider taking a visionary approach when your company can reliably create or re-create an environment largely by themselves.<\/span><\/p>\n<p><span style=\"color: #00ccff;\"><strong><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif;\">For example, it could be the right choice&#8230;<\/span><\/strong><\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">When you see a clear opportunity for the creation of a new market segment or<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">When you can disrupt an existing market segment.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">In their book, Your Strategy Needs a Strategy, Martin Reeves and his co-authors,<sup>1<\/sup> emphasized the importance of the visionary approach to strategy for business environments that can create a new market.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">A great summary of their work can be found in the Harvard Business Review <sup>2<\/sup>\u00a0or in the Boston Consulting Group publications.<sup>3<\/sup><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Overview<\/b><\/strong><\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b><\/b><strong><b>\u21d2 <\/b><\/strong><strong><b>What is the visionary approach to business strategy?<\/b><\/strong><\/span><\/li>\n<li><span style=\"color: #00ccff;\"><strong><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b>\u21d2 <\/b><\/span><span style=\"color: #000000;\">When does this strategy work well?<\/span><\/span><\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><strong><b>\u21d2 <span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif;\">What are the steps to deploy the visionary approach to strategy?<\/span><\/b><\/strong><b><\/b><\/span><\/li>\n<li><span style=\"color: #00ccff;\"><strong><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b>\u21d2 <\/b><\/span><span style=\"color: #000000;\">What is the difference to other strategies?<\/span><\/span><\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><strong><b>\u21d2 Summary<\/b><\/strong><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>What is <\/b><\/strong><strong><b>the visionary approach to<\/b><\/strong><strong><b> business strategy?<\/b><\/strong><strong><b>\u00a0<\/b><\/strong><\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b><\/b>The\u00a0company wins by being the first to create a new market or to disrupt an existing one.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><strong>In short:<\/strong> Be first to revolutionize the industry with a new product or business model!<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">What opportunities do you see to create a new market?<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #00ccff;\"><strong><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif;\">When does this strategy work well?<\/span><\/strong><\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">This approach works well when the visionary company can build a new, attractive market reality.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><strong>For example,<\/strong> your company is the first to apply a new technology or to identify and address a major source of customer dissatisfaction or a latent need.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong>What are the steps to deploy the visionary approach to strategy?<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif;\">Step #1: Envision<\/span><\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Visionary leaders anticipate a valuable possibility that can be realized.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif;\">Step #2: Build<\/span><\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Then they focus their resources to be the first to build it.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif;\">Step #3: Persist<\/span><\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">They persist in executing and scaling the vision until its full potential has been realized.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #00ccff;\"><strong><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif;\">What is the difference to other strategies?<\/span><\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">In contrast to the analysis and planning of classical strategy and the iterative experimentation of adaptive strategy, the visionary approach is about imagination and realization.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Summary<\/b><\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b><\/b><strong><b>Key Point #1: The\u00a0company wins by being the first to create a new market or to disrupt an existing one.<\/b><\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b><\/b><strong><b>Key Point #2:\u00a0<\/b><\/strong><\/span><strong><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">This approach works well when the visionary company can build a new, attractive market reality.<\/span><\/strong><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Supporting you<\/b><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">I\u00b4m available to support you by re-imagine your business and propel it to the next level. The<strong><b> visionary approach to strategy<\/b><\/strong> will help your company to create new products that create new uncontested markets so your long-term success is ensured.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><strong><b>Contact me for a complimentary 30-minute strategy session:<\/b><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/nextlevelcoach.as.me\/schedule.php\"><u>https:\/\/nextlevelcoach.as.me\/schedule.php<\/u><\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Coming up next month<\/b><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">In my next blog post, I\u00b4ll share how to use the Blue Ocean Strategy (Part 1).<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Stay tuned!<\/span><\/p>\n<ol style=\"text-align: justify;\">\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Martin Reeves, Knut Haanes, Janme Jaya Sinha, \u201cYour strategy needs a strategy, how to choose and execute \u00a0the right approach\u201d, Harvard Business Review, 2015.<\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">https:\/\/hbr.org\/2015\/06\/navigating-the-dozens-of-different-strategy-options<\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">https:\/\/www.bcg.com\/publications\/collections\/your-strategy-needs-strategy\/classical<\/span><\/li>\n<\/ol>\n<p style=\"text-align: justify;\"><span style=\"font-size: 12pt; font-family: arial, helvetica, sans-serif; color: #000000;\">#blog #blogpost #business #businesscoach #businesscoaching #businessowner #businesses #businessmastery #businessmodel #change #challenge #company #companies #coaching #coach #entrepreneur #entrepreneurship #empower #empowering #leadership #leadershipcoaching #leader #leading #mindset #opportunity #potential #solution #strengths #strategy #strategies #strategyforsuccess #system #success #successful #nextlevel #nextlevel-coach #nextlevelscoach #nextlevelcoaching #nextlevelcoach #marius #mariusbill #vision #visionary #visionaryapproach<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Copyright 2019-2022, Next Level Coach. All rights reserved!<\/b><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In today\u2019s article I will share a brief introduction to the visionary approach to strategy and show when you could use this strategy.\u00a0 When is the visionary approach to strategy the right choice? Your company should consider taking a visionary approach when your company can reliably create or re-create an environment largely by themselves. For [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-5573","post","type-post","status-publish","format-standard","hentry","category-business"],"translation":{"provider":"WPGlobus","version":"3.0.2","language":"de","enabled_languages":["en","de"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"de":{"title":false,"content":false,"excerpt":false}}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/posts\/5573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/comments?post=5573"}],"version-history":[{"count":2,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/posts\/5573\/revisions"}],"predecessor-version":[{"id":5862,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/posts\/5573\/revisions\/5862"}],"wp:attachment":[{"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/media?parent=5573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/categories?post=5573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/tags?post=5573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}