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RR

Richard Rumelt

01/21/24

@ Lenny's Podcast

Don't call it a strategy; call it an action agenda. You're not creating a strategy, you're creating a plan to address a specific problem.

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Good Strategy, Bad Strategy | Richard Rumelt

@ Lenny's Podcast

Good Strategy, Bad Strategy | Richard Rumelt

01/21/24

Related Takeaways

RR

Richard Rumelt

01/21/24

@ Lenny's Podcast

Don't call it a strategy; call it an action agenda. We need to identify the one or two key challenges we can address and outline coherent actions to tackle them.

RR

Richard Rumelt

01/21/24

@ Lenny's Podcast

Strategy is about solving the most important problem you're facing and taking action to address it.

RR

Richard Rumelt

01/21/24

@ Lenny's Podcast

It's important to recognize that strategy is not mysterious; it's about practical problem-solving and taking actionable steps.

RR

Richard Rumelt

01/21/24

@ Lenny's Podcast

When creating a strategy, focus on the most significant challenges and how to address them effectively, rather than trying to do everything.

RR

Richard Rumelt

01/21/24

@ Lenny's Podcast

A strategy should be a living document that evolves as new insights and challenges arise, rather than a static plan.

RR

Richard Rumelt

01/21/24

@ Lenny's Podcast

Mistaking goals for strategy is a common pitfall; goals alone do not constitute a strategy without a clear diagnosis and actionable steps.

RR

Richard Rumelt

01/21/24

@ Lenny's Podcast

A good strategy starts with a clear diagnosis of the biggest challenge you face, followed by a guiding policy and coherent actions to address it.

RR

Richard Rumelt

01/21/24

@ Lenny's Podcast

A bad strategy often consists of a list of abstract goals or ambitions without a clear diagnosis or coherent actions to achieve them.

RR

Richard Rumelt

01/21/24

@ Lenny's Podcast

The best strategies are not about picking from a list of common strategies but about understanding the unique challenges you face.