One of my favorite books:
W. Chan Kim and Renee Maubergne provide readers with a powerful way to look at your business, your competitors, and the marketplace to identify opportunities for differentiation and innovation. Their strategy canvas is the best strategic tool of the book, in my opinion, although their 4 Actions Framework is also a useful version of a familiar innovation process.
Lots of business books spend too much time talking about theory and not enough time offering practical guidance. But Blue Ocean Strategy was very actionable. I ended up with a HUGE list of opportunities that I’m implementing.
[UPDATE FROM 37 MONTHS LATER: I can report that the actionable ideas I uncovered using Kim and Maubergne’s book played a significant role in my business’ success. In the past 3 years, I have seen a dramatic improvement in business positioning, client quality, revenue, and profit.]
The Business Diamond Framework™ is a new way of looking at a business.
There are many different kinds of businesses but all of those businesses perform the same four functions to achieve their unique ends. Those four functions can be depicted like this:
“Leadership” represents the vision-casting and management of decision-makers. “Value-Add” represents the input-side of the business’ supply chain, which might include information or raw materials. “To-Market” represents the output-side of the supply chain, which includes marketing, sales, distribution, and other steps to bring a completed product or service to market. And “Support” represents the critical but non-revenue-generating functions of the business, which usually includes payroll, reception, HR, and other departments.
Facebook ads are great examples of wasted money. This one demonstrates what happens when you hire a non-English-speaking writer to create internet marketing material.
Disclaimer: Okay, maybe not ALL Facebook ads suck, but many many many of them do.
The Business Diamond Framework&trade is a tool I’ve created in the past couple of years to help businesses achieve profitable growth. From time to time, you’ll read about the Framework and how you can apply it to your business.
The Business Diamond Framework™ started life as a way for me to quickly understand my clients’ marketplace, goals, and needs so that I could write for them more effectively. But later, it became a tool that helped businesses to learn more about themselves, to develop competitor-defying innovation, and to implement strategy effectively.
Here’s why it’s relevant: Businesses want to grow but a growth path is not clearly laid out for them. They need to create strategy but which strategy to choose? There are a multitude of strategic development tools out there, but which ones are the right ones?
That’s what the Business Diamond Framework™ solves. The Framework combines two things:
- A new way to think about a business
- A methodology