Is That Idea Truly Strategic?
So, you are a #CEO or #President and have an idea that might be strategic. Given your fiduciary responsibility, I think you had better do some due diligence. Here are the seven questions to ask to verify that your idea is a great one:
- Is it new to you and your competitors?
- Will it better fulfill the needs of customers?
- Will it increase revenue?
- Will it result in a material change in cash flow?
- Does the increase in cash flow produce a positive Net Present Value (NPV)?
- Is NPV positive at a 25% risk of the idea’s failure?
- Will society accept the changes in product or service as safe for people and the environment?
If you answer yes to each of the questions above, you might have a strategic opportunity. Read my book ‘Strategy Quest’ for the tactics you should use to see if you are at yes!
paul@paulprophetalucro.com
#strategy
