Strategic Pillars
Not every good idea is worth pursuing.
Each business has core strategic pillars that are deeply interconnected and intertwined into the fabric of the organization. Can you imagine if Ikea started selling high-end, customized furniture?
This is why filtering your ideas through your strategic pillars is critical. When you go through this exercise, you realize that most ideas aren't a good fit for your business.
Where companies get caught is when they start with the $$$ value in certain ideas. They work backwards from there to figure out how to make it happen.
Along the way, they lose the strategy and forget what business they're in. They also jeopardize the core business with this outside-in strategy.
Instead, start with the strategic pillars and build from the inside-out.
Don't chase after every shiny revenue opportunity :)
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