Falcon's Invoice Discounting: Your Path to Prosperity
TSS 2011 David Maher Roberts Responsive Strategy Bath 1 Dec 2011
1. Responsive Strategy
Tech Start-up School 2011
David Maher Roberts, CEO, The Filter
@davidpmr / dmr@thefilter.com
2.
3. HEALTH WARNING
The content of this
presentation does not
constitute a definitive
guide to business
strategy and strategic
planning. I am not an
expert in strategy or
strategic planning. I am
not an academic.
You have been warned.
:)
4. The aim tonight
‣ Purpose of business strategy
‣ Ideas on how to develop one
‣ When to change / stick
9. Planning methods
‣ See - what is today's situation?
‣ Think - define goals/objectives
‣ Draw - map a route to achieving the goals/objectives
10. Defining & Communicating
1. Name & tagline 6. Competition
2. Vision & Mission 7. SWOT Analysis
3. Market & Problem 8. Business objectives
4. Product / Solution 9. Marketing Strategy
5. Value proposition 10. Review milestones
11. “In strategy it is important to see
distant things as if they were close
and to take a distanced view of
close things”
Miyamoto Musashi
12. A strategy must be...
• Sharply defined and built around a clear value
proposition
• Clearly communicated
• Well understood by all:
Customers, Employees, Partners, Investors
• Frequently reviewed
• Easy to fine tune based on external factors
e.g. new technology, social trend, regulation,
competition, etc...
14. Hidden flaws to watch out for
• Over confidence
• Mental accounting
• Status quo bias
• Anchoring
• The sunk cost effect
• Herding instinct
• Incorrect estimate of future hedonic states
• False consensus
19. Reviewing strategy
• Deep knowledge of market and trends
• Review results & external factors
• Question and test your strategy
• Seek regular advice (Advisory Board / Non Execs / Experts)
• Develop plays to further test strategy
• Be prepared to change strategy fast
20. Reasons to change
Does your product/service better suit an adjacent
industry/sector?
1. Is your product more of a feature?
2. The market opportunity is not that big
3. Competition has matched your product/service and
got better traction
4. A killer new trend that propels your product/service
5. Core mission can be same, but go to market may
need to be changed
25. Example 5: The Filter
“ The Filter is a life jockey, offering people freedom from the
tyranny of choice. It is a smart online companion that transforms
the user experience because it understands and caters to
the user’s tastes and moods”
Peter Gabriel