What is the purpose of the Strategy?

• Often referred to as the Mission Statement, it focuses on HOW do you aim to achieve your goals and make the vision come true in the future
• The idea is to focus on the principles and not on specific actions or tactics
• These principles, if applied successfully, will make the target audience want to use and buy the product, which will lead to success
• This aligns with the interim circle titled "How" in Simon Sinek’s framework, The Golden Circle

How to craft the Strategy?

• I recommend using the Differentiation Canvas method
• The main concept of this method is to understand the high priority needs of your target audience and how you can answer those needs in a way that will be unique in the market in order to crystalize a differentiated strategy
• It is highly recommended that the strategy will be formalized together with Sales
• Ultimately, according to Gibson Biddle’s “DHM” model, the strategy should be one that Delights customers, in a Hard to copy (sustainably differentiated), Margin enhancing way
• The strategy is the product’s “secret sauce” and therefore should not be made public or shared with competitors
• It is possible to pivot the strategy in case it does not result in meeting the defined Metrics