Strategic frameworks can 10x your business.
It’s almost like thinking on steroids!
Top 6 strategic frameworks every entrepreneur needs to know to be successful: 🧵
1. SWOT Analysis
SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis is a framework used to evaluate a company’s competitive position.
That’s an essential tool for thinking about the business.
Learn in 6:27:
2. PESTEL Analysis
PESTEL analysis is commonly used to evaluate the business environment in which a company operates.
The acronym stands for Political, Economic, Social, Technological, Environmental, and Legal factors.
Learn in 9:49:
3. Porter’s Five Forces
Porter’s Five Forces is a model that identifies and analyzes five competitive forces:
– Rivalry among existing competitors
– Threat of new entrants
– Threat of substitutes
– Power of buyers
– Power of suppliers
Learn in 8:13:
4. Value Chain Analysis
An analytical framework that assists in identifying business activities that can create value and competitive advantage.
A unique Value Chain is one of the 5 elements of strategy, as defined by Porter.
Learn in 13:15:
5. Ansoff Matrix
The Ansoff Matrix often called the Product/Market Expansion Grid, is a 2×2 framework used to help plan and evaluate growth initiatives.
Learn in 13:50:
6. McKinsey 7S Framework
It illustrates how seven elements of businesses can be aligned to increase effectiveness.
It works well with Porter’s Fit test.
Learn in 10:41:
You can watch those videos in one hour (1:02:15).
Each framework will help you ask better questions and look at problems from different perspectives.