Break Free from the Box: 4 Strategy Shifts Every Business Owner Needs to Innovate and Grow

There is a Harvard Business Review article, All Business Strategies Fall into 4 Categories, I sometimes look back on for inspiration, not only when thinking about strategy in the strict sense, but when approaching problems or driving innovation in any space.

In case reading two brief articles is a bridge too far for you, I’ll give you a super high level recap.

The four categories that strategies fall into are the following:

1. Adaptations of successful strategies from your industry
2. Importing strategies from other industries
3. Combining strategies from multiple different industries
4. Strategies created from scratch

At first blush you might read that and think “Yep. Of course.” But I would wager that the VAST majority of companies out there are inevitably drawn into the mire of implementing the same strategy everyone else uses in their industry. At best you’re looking at the successful companies and trying to pull out what worked for them looking at their past performance. In reality you’re in a stalemate with everyone else and nobody prospers.

Ultimately that means these businesses are mashing up the worst parts of item #1 and #4.

Let’s take a step back and look at the list again. This simple list is a recipe for innovation. Innovation in strategy, innovation in product development, innovation in problem solving, and so on.

The way I see it, those four categories are more a progression of thought and innovation.

Stage 1: How can you adapt what other people are doing really well to benefit your own business?

This is inside the box thinking. What’s everybody else doing? Maybe I should do that too.

Stage 2: What are other industries doing and how can I adapt those same concepts to my own business?

Welcome to outside of the box. Now you’re getting somewhere. How many other frozen yogurt shops take inspiration from successful auto shop business processes and business strategies? Not many.

Stage 3: What if we didn’t just look at one other industry, what if we made a mashup that took the best and most applicable elements from multiple unrelated businesses?

I don’t know how to extend the metaphor beyond the box but maybe you’re juggling boxes now. However you want to think of it, this is a really expansive and broad way of thinking and tackling business problems.

Stage 4: I’m doing this MY way!

I need to find some research on this (that likely doesn’t exist), but my instincts are telling me that almost all businesses think they’re grand innovators, prancing about in the rarified air of Stage 4, but they are in fact doppelgangers of everyone else in their industry.

How can you apply these stages to your next brainstorming session? To your next question storming session? (that’s a deep cut for those you who have been around a while) How can you make your products better? How can you find new and better suited processes for yourself, or solutions for what challenges you?

Don’t just look at the woman next to you. Climb outside of the box and look around. Start juggling boxes. You might be surprised at what happens.

Every small business owner deserves to have the success, and the life, that they dreamed of when they started, including you. And yes, I really committed to that box metaphor.

PS: Got a question or a topic you’d love to see covered? Drop me a message, and I might answer it in an upcoming post!

If you’d like to explore working together, here’s how to get started:

1. Reach out on LinkedIn or via my website to schedule a call
2. We get to know each other a bit and you tell me about yourself, your business, and what your current challenges are
3. Schedule a low-risk 60-90 minute coaching session to take the first step toward a solution and experience what it’s like to work together

Additionally, I’ve created a straightforward 3 step process to help you accelerate the growth of your business. You can gain free access to it by clicking here.