A year ago, my friend Peter decided to position his agency to focus on CPG companies. While he and his team weren’t sure if the strategy would work, they stuck with it through trying times. Their effort and commitment amidst uncertainty paid off, and they’re seeing more CPG opportunities and clients, and building a reputation in the industry.
“Changing strategy frequently is akin to planting a seedling and pulling it out of the ground every day to see if it is growing yet—you need to give a strategy time and nurturing before deciding that it is in need of revision,” Frank Slootman writes in Tape Sucks. “In the startup combat zone, we felt that instead of revisiting our strategy at the first sign of trouble, we would instead double down on our strategy commitment. The watchword was heads down execution, one foot in front of the other, addressing the details of the business as best we knew how.”
Knowing when to double down, and when to stick with it, is the key. And for Peter, it’s about thinking clearly, making sure activities take the business in the right direction, and sticking with the plan. “There are constant temptations to expand our services offering, to venture into new tech stacks, or to target different types of clients,” Peter writes. “While we’ll explore new opportunities where it makes sense and run contained experiments, we’ve tried to remain steadfast with our core strategic decisions, letting them play out across multiple years.”
Peter’s currently sticking with the same approach for one of his other agencies. He writes, “It’s too early to tell if the positioning will be successful, but we’re going to give it our best shot in terms of going all in and engaging in the activities that, 3-9 months from now, may pay off in the form of opportunities, partnerships, and referrals.”
Give your strategy more time to see how it turns out, especially when there’s uncertainty.