Every company formulates strategies to operate the business. These strategies help run their product, marketing, sales and delivery activities. In order to build functional strategies, an all-encompassing Core Strategy is needed that provides direction and aligns efforts across the organisation.
The lack of a Core Story can show up in different ways across the business.
- Marketing – efforts in marketing do not deliver results due to campaigns that are misaligned (an easy indicator is the company social feed)
- Sales – struggling to get customers to understand the value of your product; spending effort in trying to convert people who are not ideal prospects
- Product – Investing effort in customising the product, fulfilling orders that fall outside the scope of the core product, and an overall lack of a clear product roadmap
- Delivery – gaps in what’s promised versus what is delivered, leading to rework, complaints, and customer churn
Many businesses continue to live with these gaps and problems and come to believe this is the norm. They end up fighting the symptoms rather than addressing the root cause.
Also, as businesses navigate through various opportunities and challenges in their growth journey, the quality of their decisions either puts the business on the path to growth or spreads them thin. The company Core Story provides invaluable guidance in decision-making – be it about products, projects or partnerships.
About The Author
Vinod Krishna is a brand storytelling trainer and consultant at DustyPaths.
He brings 3 decades of experience in leading people, projects, and businesses
to forge new paths in brand storytelling and leadership development.
He is an avid barefoot runner, trekker, theater artist, and photographer.
Connect with him on LinkedIn