In business, we define profit as a financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses. Do you live a profitable life? Or, are you putting in much more than you’re gaining? Too often, we spend countless hours in work or other activities and feel frustrated because we’re not getting much out of it. Take the quiz below to find out if you live strategically. 1.  Do you have a… READ MORE

Strategy for You… READ MORE

The beginning of the year is an opportune time to create a strategic plan for yourself. Yes, you. Will you spend the year bouncing around from one thing to the next like a bumper car at the carnival? Or, will you live this year with purpose, focus and clear intent on getting the most out of your work and your life. My research with more than 2,000 adults showed that less than 2 out of every 10 people have a plan for their life. I had the… READ MORE

New Year’s resolutions are set with good intent, but rarely achieved. Here are three things to avoid when working to accomplish your resolutions or goals for the new… READ MORE

Bad strategy beware: there’s a new superhero in town. Read the first three pages of the first ever business strategy comic book, “The Secret Powers of Strategyman.” To read the entire comic book and take the “Are You Strategic?” quiz, go to “Rich Horwath’s Files” and download “Strategyman Comic Book” at… READ MORE

In an attempt to piece together a fuller picture of strategic thinking, I’ve created the following infographic. It’s designed to highlight key research findings and examples related to strategic thinking, or in some cases, a lack thereof. The data sources outside of my research have been listed after the graphic for those interested in greater detail. (Click to enlarge) Embed this image on your site: <a… READ MORE

1. Does everyone in your company have the same definition of strategy? Yes | No 2. Do people understand the difference between goals, objectives, strategies and tactics? Yes | No 3. Have the different groups in the organization clearly defined their goals and shared them with others? Yes | No 4. Do you clearly communicate your product/service points of differentiation that customer’s value? Yes | No 5. Is your group performing… READ MORE

The term “best practice” is a misleading one. “Best” is too often perceived as a universal. The reality is that an organization’s success and/or failure is determined by a number of factors, including the current context, competitive landscape, customer value drivers, internal culture and so on. So when we use the concept of best practice to develop our strategy, we’re assuming all of the aforementioned factors will be the same as the… READ MORE

Good people of the business world, take cover! No, it’s not a tsunami, or hurricane or even a tropical storm. It’s the new scapegoat: headwinds. In a Wall Street Journal article entitled, “Sprint Loses More Customers,” Sprint Nextel CFO Joseph Euteneuer said, “We faced a number of competitive headwinds that became more pronounced in the second quarter.” Earlier in the week, Border’s began shuttering their roughly 400 remaining… READ MORE

As Borders began shuttering their roughly 400 remaining stores, company president Mike Edwards said, “We are saddened by this development. We were all working hard towards a different outcome, but the headwinds we have been facing for quite some time…have brought us to where we are now.” A heartfelt statement that craftily shifts the blame for their demise to external factors known as “headwinds”. Let’s call the downfall what it really… READ MORE