Hey product folks!
We're back on the case of the second of the Five Deadly Sins of Strategy: Ambiguity.
Recap: What is Ambiguity in Strategy?
Quick recap: Ambiguity in strategy is when your grand plans lack clear objectives, target audiences, or measurable outcomes. It's like trying to play darts blindfolded - you might hit something, but it probably won't be the bullseye.
In our previous newsletters, we unmasked this sin, poked holes in some well-meaning but misguided solutions, and armed ourselves with the mighty 5W approach (Who, What, When, Where, Why).
But theory's one thing - what happens when the rubber meets the road?
It's time to see the 5W approach in a real-world success story showcasing this framework in action.
The Tale of Larry at BobCo
Remember Larry from BobCo, our fintech friend? He fell into the ambiguity trap despite kicking off the year with a grand strategy presentation for his team. A few months in, he realized their shiny new features were about as connected to the company vision as a square peg in a round hole. Oops!
The 5W Rescue Mission
The culprit? Ambiguity in strategy communication. But fear not! Larry decided to tackle this head-on with the 5W approach. Here's how he turned things around:
1. Larry clearly articulated each W (Who, What, When, Where, Why) for every strategy and project:
Who: He focused on a customer, and got the team to understand their wants and needs.
What: Larry nailed down BobCo's unique value proposition, making their product stand out when it came to dealing with that customer’s particular issue.
When: He recognized the time in the customer’s day when this was a problem, and the stakes involved.
Where: He and his team talked about where in the customer’s life the problem was heaviest.
Why: He made the stakes clear.
2. Larry made the 5 Ws omnipresent, plastering them everywhere from meeting rooms to digital tools.
3. The 5 Ws became the team's strategic mantra. Larry used them in every meeting, not just during kickoffs, ensuring they were as ingrained in the team's mind as their coffee orders.
4. For each new initiative, Larry connected the dots back to previous work and the overall strategy using the 5 Ws. This created a cohesive story that even the most distracted team members could follow.
Banished Ambiguity
Larry has overcome the ambiguity by making each step explicitly connected to the bigger picture.
By framing each step in the context of BobCo's overarching strategy, Larry transformed mundane project updates into exciting chapters of a larger story. This approach not only kept the team aligned but also ignited their enthusiasm, as they could now see how their day-to-day work was shaping the company's future.
The 5W Strategy Storytelling Challenge
Next time you're presenting a project update or launching a new initiative, try this:
- Start with a blank slide or document.
- Write down your project or initiative at the top.
- For each of the 5 Ws (Who, What, When, Where, Why), craft a brief, compelling statement.
- Now, the tricky part: Weave these 5 Ws into a short, engaging story that connects your current work to past projects and the overall company vision.
- Present this story to your team or stakeholders in under 2 minutes.
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Ready to unwrap a strategy that doesn't gather dust faster than your holiday decorations?
I offer a free workshop as a Holiday special to help product leaders craft their strategy for the next year.
Here is the link for the workshop description
Don't let another year go by with a strategy that's as stale as last year's gingerbread house. Join me for a session that's more fun than untangling holiday lights.
