How to I start strategic work when I have never followed a stringent path in terms of strategy?
- Document your portfolio as it is today.
- You can find a center of gravity in there? This is your identity. Your portfolio defines your identity. If not, give yourself an identity. How do you want to be perceived today? How do you want to be perceived in future. Two identities. Nothing pathological. One is today, the other tomorrow. Suddenly we have target and direction.
- From your future identity you can define the portfolio you want to entertain in future. Here again the portfolio defines the identity.
- Voilà! Your path from Situation to Strategy.
Don’t overdo it. An 80% solution is great. Your predictions will be wrong anyways, but not completely. Work in iterations. Remember the P-D-C-A cycle.
This was the Quick Start. Go to Portfolio Management.