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There are always too many options, too many ideas, too many unknown even too many answers.

Do you have any methodology?
What tool do you use?
How do you define or evaluate your strategy?

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2 Answers

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The methodology that works best for me is as follows:

  1. Define Your Desired Future State: This is what you want to shoot for in maybe 2-3 years. This sets your target. Be as specific as possible. Give your future state concrete numbers and specific products.
  2. Define Your Present State: This is where you are today. Again, specifics are important since you really want to understand where you are at.
  3. Choose Metrics: Determine the metrics you want to track to evaluate your progress from the present state to the future state.
  4. Analyze the Gap: Figure out the gaps in where you are and where you want to be. This gap analysis should be as specific as possible because you want to make concrete progress that is measurable.
  5. Select Strategies that Close the Gap: Brainstorm about what you need to do in order to close the gap between now and the future.
  6. Pick a Mantra: This sounds kind of strange but it's good to choose a simple word or phrase that defines your future state. This is your mantra or strategic vision. When you stray, this puts you back on track.
  7. Monitor Your Progress: Strategy takes time to implement so it's important to monitor it at regular intervals to keep yourself on track.

In terms of picking from the many options, ideas and dealing with all those unknowns and many answers, it's best to focus on a single market, idea or product. Doing too much will just bog you down.

Strategy is all about the path you choose not the zigs and zags in the path (tactics deal with those). There will be many setbacks, false starts and opportunities to get distracted along your chosen path. Resist the urge to change your strategy at every misstep -- that will just frustrate and set you back.

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+1 for mantra (G.K.). – JeffO Jan 19 '10 at 18:00
Yup. Guy got it so right. That was the one thing that stuck with me from Art of the Start. – Jarie Bolander Jan 20 '10 at 2:26
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This is a very interesting question, that begs for a general strategy system.

As a starting point, before you begin developing marketing strategy and tactics, there are three general elements I believe are crucial to your success. Together I refer to them at the E3 Social Media Strategy, but they would apply to any startup, whether you are devoted to Social Media or not.

Here they are:

The 3 “E’s” are Effectiveness, Efficiency and Efficacy:

  1. Effectiveness means “getting the RIGHT job DONE.”

If you’re doing the wrong job, it doesn’t matter how well you do it. If you’re heading in the wrong direction, it doesn’t matter how fast you run. If you don’t know where you’re going, it doesn’t matter which course you follow. The E3 strategy enables you to plan your work, and then to work your plan. Effectiveness is not the same for every company, so there are no cookie-cutter solutions. Be sure to clarify your vision, solidify your mission, chart your direction, and ensure your satisfaction.

  1. Efficiency means “getting the JOB done RIGHT.”

If you have the right vision, mission and direction, but you are performing inefficiently, you will not achieve the satisfaction you merit. If you achieve your objectives, but do so at too great an expense, in time or resources, you will have accomplished less than you deserve. If you are spinning your wheels more than is absolutely necessary, you are wasting your energy, time and momentum.

  1. Efficacy means the “CAPACITY or POWER to PRODUCE the DESIRED RESULT.”

You have identified your vision, mission and direction; but now you need the horsepower to get there. Furthermore, to justify the cost, to chart your progress and to recognize your destination when you arrive, you must have solid analytical benchmarks along the way — we call them “metrics.” Up until recently, Social Media Metrics have been the most elusive component of strategy execution. The E3 strategy incorporates, relies and depends upon, the best analytical theory and practice, from the best thinkers and thought leaders, that is currently available. Without a tool for testing results, you can never know where you are.

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