Mutually Exclusive Strategies
VBO strategies are built to mutually exclude opportunities by focusing on core business. Sounds counterintuitive, right? I learned this through some hard earned lessons. My personal example includes eliminating the distraction of selling commodity product to big box retailers and mass market in order to focus on premium products through online end users and a dealer network.
The VBO Pyramid makes it easy to visualize the VBO process. It’s based on the core tenets of Outcomes, Strategic and Tactical Planning and Implementation. By identifying the goals, key assumptions and deliverables within each level, we can develop a straight line process that leads each entrepreneur to successfully achieved outcomes.
DVAA is a cornerstone concept that stands for Define, Validate and Align Assumptions. DVAA will open your eyes to hidden possibilities as you evaluate opportunity costs and create the clarity that drive your business. You’ll learn to be more direct and focus on synergy to optimize limited resources. Most important is that you’ll learn the discipline of substantiation.
Value Based Outcomes
We define VBO (Value Based Outcomes) as “significant achievements which create meaningful strategic value at personal, company and customer levels. VBOs develop clarity of purpose while defining your company culture and your brand for teammates, market and customer.
The result is precision and focus. Outcomes, when created properly, become the guiding force of your business. By understanding the ‘long game’ you will always drive win/win strategic and tactical programs that enhance brand and put you in control of your customers and the consumer. You will build a viable, long term enterprise based on a strong brand and a value added product (service) mix v. one off sales with short term benefits that actually become net negatives when your review your business down the line.
Embrace the fact that we always have to Be More by being better. Think about Lego – are they just toys? There’s LEGOLAND, and studio quality movies. Another example is Virgin Airlines. Their preflight announcements are far from mundane, they are an experience.
The point is that Be More is about creating differentiating value for your brand and your customer. No product or service should be ‘black and white’ – they should all be in 3D! Ask yourself, if you can’t BE MORE, why are you in business?
Build The Airplane In Midflight
When you’re developing your VBOs you will also develop your strategy and then spend your time validating and aligning your assumptions. This is the equivalent of building the airplane in midflight. VBO strategies are incrementally addressed, you don’t ever need to go off for a weekend retreat to work on strategic issues. Become disciplined in applying the process and you will find that Strategy, Tactics and Implementation become second nature and linked to complementary value. The process takes care of ‘it’s own’.