Every company, no matter how successful, has a strategy gap. No organization gets everything 100% correct, all the time. And even if it did, competitors and consumers would react, and the focus would shift to the best guess for what to do next.
The most elementary gap occurs in the exchange of value between your business and your target market. Due to a number of imperfections in operations, communications, and numerous other factors, this exchange is leaky. And these leaks and imperfections represent potential for growth and improvement—as long as you condition your eyes to seeing them.
Because companies, competition and consumers are ever-changing, these gaps are ever-changing too. This is one reason why growth opportunities are so plentiful in these gaps—as old needs are filled, new needs emerge. This is a good thing, for those that take advantage. These gaps can be viewed as shortcomings, but it’s far more productive to view them as opportunities.
The implication of this logic is simple: Since the gaps are dynamic, your business must be dynamic too. That doesn’t mean you should dramatically change at every signal—because sometimes some signals are just noise—but rather that you should become more attuned to how your environment is subtly changing and adapting.
The Strategy Gap helps to guide strategy by giving you specific areas in which to focus your search. It helps you define your biggest challenge, and thus to narrow the number of viable options available to you. And, perhaps most importantly, it serves as a constant reminder that there are growth opportunities scattered all across your businesses...
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