I’m not sure if I’m still confused when trying to differentiate strategy and tactics. Maybe it’s because your tactics will likely be dictated in part by strategy - and that is causing the confusion.
Perhaps I define strategy as leading metrics I want to aim for - goals to work on knowing how the strategy will play out long-term (assuming enough other things maintain a positive state) - versus how to obtain those goals or get those leading metric numbers moving in the right direction - is the tactics; Tactics as action?
JLM, a regularly commenter and someone I disagree with in the political arena, made this notable comment that paints a good picture, and is very complementary to what Fred says.
Applying Fred’s post on strategy to my own plans
Differentiation - Check.
Cost - Check.
Segmentation - Check.
Strategy to include a trifecta should be a good sign eh? Guess I’ll find out soon enough. :)
Re: Throwing money at something and expecting to win
Luckily I’ve not ever had a big chunk of resources available all at once, at least so far, and that’s allowed me / forced me to focus on the absolute most important aspects.
Strategy for defensibility long-term and determining leading metrics, along with the importance of branding, are the two top things I have focused on.
I’ve only ever really had access to chunks of money, low to medium five digit amounts, and it’s amazing how fast you can burn through that with outsourced contractors (specifically developers / programmers) - who in general want to provide you with as little work done, bill you for the most hours possible - all because they don’t care or need to build a long-term relationship with you.
Anyway, I digress, these experiences have prepared me to value time and relationships, and I look forward to being able to manage larger amounts of funds so I can start building those good long-term relationships I’ve been craving. It really made me see the value and importance too, of a paycheck; I’ve not ever really felt a personal / direct attachment to money — a positive I think in allowing me to come up with ridiculously grandeur plans.
“If you can’t get product right nothing else matters [including strategy]”
… Fred says, and said also,
“I have seen brilliant strategic plans wasted with terrible product execution …
And I’ve made fortunes investing in brilliant products that had no plan.”
He also noted that he’s “lost too much money investing in brilliant plans.”
I know this will be my biggest challenge for garnering investment — very big vision / plan, though I’ve never put together or lead an in-person team before.
It’s why I am a fan of convertible notes / debt, which would allow me to prove myself in a more fair environment. I’ll get some money, give it my best shot, and the amount of initial equity returned for that initial capital will be based primarily on my performance leading. I feel if I perform extremely well, and everything’s going really well, then I should be rewarded from that (by not losing/needing to give as much equity for that round). Of course there’s still finding a fair balance as to what it’s worth to an investor if “best case scenario” is reached / performed.
Luckily I’ve been doing UI / UX since I was 11 or 12 years old, without realizing or caring that’s what was - first starting when I was developing my own MUD (online text-based game); I was turning the interface from the standard of scrolling text, into a fixed layout, where elements that made less sense scrolling, and where it made more sense for elements to be in a known-fixed location. Fun times.
So, I’m not personally worried about creating / leading towards a good product - though there are more elements to execution, other than just seeing what an end product should look like / be like. I do have proof points in this area, otherwise I think it’d be a non-starter for conversation with investors.
The next step for me really is just getting the funding to keep moving the product forward, moving more towards executing on the whole strategy.