Strategy First

About the Author

Brad Chase is a seasoned strategy, leadership, and marketing consultant who has dedicated his career to helping CEOs and senior executives achieve their business goals. With a notable 14-year tenure at Microsoft, Chase led significant initiatives, including the management of MSN and Windows marketing. He concluded his time at Microsoft as a Senior Vice President and Executive Officer. Beyond his corporate achievements, Chase has contributed to numerous for-profit and nonprofit boards, demonstrating his commitment to leadership and community service. His insights on strategy are compiled in his book, Strategy First: How Businesses Win Big, published in 2020 by Greenleaf Publishing Group.

Main Idea

The central thesis of Strategy First: How Businesses Win Big revolves around the paramount importance of strategy in achieving business success. According to Chase, a robust strategy is not merely an academic exercise but a practical, actionable framework that drives real, sustainable success. He introduces the formula Strategy = E x mc² to emphasize the need for a clear strategy that aligns with customer value, market potential, and execution capabilities. By focusing on these elements, businesses can navigate challenges, seize opportunities, and achieve lasting success.

Table of Contents

1. Introduction
2. The Strategy Imperative
3. Scoring Your Strategy
4. Seek Change
5. Mine the Gaps
6. Adapt to the Tides
7. Expand the Universe
8. Climb Short Walls; Build Tall Walls
9. Execution
10. Conclusion

Introduction

Chase begins by emphasizing the necessity of getting strategy right. He argues that strategy should not be an afterthought but a primary focus for every leader. The book's model is designed to be memorable and practical, ensuring that it can be easily implemented across different business scenarios. This approach helps businesses meet the unmet and unarticulated needs of their customers, which is crucial for long-term success.

Chase provides a comprehensive overview of what he calls the Strategy = E x mc² formula, where 'E' stands for execution, 'm' for market potential, and 'c' for customer value. By balancing these elements, businesses can develop strategies that are both effective and adaptable. He underscores the importance of not just having a strategy but having the right strategy, one that is well-executed and aligned with the core values and goals of the organization.

The Strategy Imperative

Chase underscores the critical role of strategy in business success. He compares it to a game plan in sports, essential for guiding a team to victory. The Strategy = E x mc² formula is introduced here, where 'E' stands for execution, 'm' for market potential, and 'c' for customer value. This formula illustrates how these elements must work together to create a winning strategy.

"A successful strategy is not just a plan but a series of choices that guide where to play and how to win." - Brad Chase

He highlights the example of KonMari Media, founded by Marie Kondo, as a business that excels in all three areas. By providing unique customer value, tapping into a strong market potential, and executing flawlessly, KonMari has built a successful enterprise.

Business success requires a winning strategy; there is no successful company that doesn’t have one. Chase discusses how different strategies can be customized to fit specific business goals, whether for startups, divisional teams in large companies, or executives seeking a strategy reset. The idea is to tailor the strategic approach to the unique circumstances and objectives of the business, ensuring that the strategy is not only relevant but also achievable.

Scoring Your Strategy

Chase introduces the Strategy First Score (SFS), a tool to evaluate and compare the effectiveness of different strategies. This score helps businesses identify strengths and weaknesses in their strategies, allowing them to make informed adjustments. By understanding how their strategy measures up against competitors, companies can make strategic bets that increase their chances of success.