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Founder's Journal

What Is Strategy?

Founder's Journal

Morning Brew

Entrepreneurship, Careers, Business

4.81.1K Ratings

🗓️ 22 March 2021

⏱️ 11 minutes

🧾️ Download transcript

Summary

Today I define business strategy and unpack why we as builders want so badly to be considered strategic. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

What is up everyone? This is Alex Lieberman, co-founder and CEO of Morning Brew.

0:06.0

Welcome back to Founders Journal, my personal audio diary, where I give you the business builder,

0:12.5

the tools you need to think better in order to build better, whether that's building a business,

0:18.0

a team, or a new product. Have a question for you. When I say the word strategy, what do you think of?

0:27.0

Seriously, take a second to think about it. Because there isn't one right answer. And if my listeners

0:34.8

are anything like the founders and investors that I've spoken to about this, I am bound to get

0:40.2

dozens of different answers when you email me. And I find that fascinating. Think about it. It is a

0:46.0

word in business that has so much pride and ego associated with it. Everyone wants to say they're

0:53.1

involved in strategy or their strategic. Yet we don't have one unified way of defining this word.

1:00.4

So my goal for this episode is to unpack why we as builders want to be considered strategic so badly.

1:08.4

And also what I believe to be a really strong attempt at defining this word. Let's hop into it.

1:15.6

The word strategy truly has taken a life of its own. I feel like it's become business jargon,

1:20.5

like synergy and cooperative and EBITDA. It's become a prerequisite in business for every person

1:28.9

that reaches a senior enough level to say that they are strategic. And the word strategy has become

1:34.8

appended to every other buzzword in business. You don't just have business strategy anymore.

1:40.6

You have product strategy, brand strategy, people strategy. You have strategic planning. And why is it

1:47.9

that we feel the need to call everything strategy and to identify ourselves as strategic.

1:54.0

I think the biggest reason is because we live in the knowledge economy where thought and decisions

2:01.0

reign supreme to effort and brute force. Right. So we went from an agricultural economy to an

2:07.2

industrial economy. And now we're in the internet economy. And in the world of the internet economy,

2:12.2

some of the most quote-unquote prestigious jobs and so much of where talent is going is in knowledge

2:19.7

worker positions where being analytical, making decisions, being thoughtful is considered a super

...

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