Realignment in 5-3-1

Who doesn’t love a good framework?  Organizations lean on frameworks for lots of things and the right framework can help clarify what work is required, how to define success, or what to emphasize.

The truth is that I’ve actually never been a big fan of frameworks.  I’ve found too often that they force my brain to think inside a specific box and that’s not how I work best.  Doesn’t mean they are wrong or bad, it just means they often don’t work so well for me – as a result, I’ve generally tended to steer clear of frameworks.

So, as you would expect, this post is about using a specific framework. 

I’m sharing in the hopes that others in similar positions can work through their challenges to get the growth they are after.

Need a realignment?

As a CEO running a growth company there is one big goal – grow!  But growth is never linear and there are always challenges along the way.  Something is holding you back and, in many cases, the issue is actually a strategic one.  When I mention strategy, most think about an extensive planning process and don’t want to invest the time, instead opting to push harder on execution. 

Nobody wants to spend endless cycles planning strategy and most want to set their strategy and go but things change around you (often totally out of your control) that can force a “strategy realignment”.  The same way a car needs to be realigned from time to time, a company needs its strategy realigned.  Not rebuilt, just realigned.  It makes for an instantly smoother ride.

The trick is how to very quickly assess where you’re at and do the realignment fast without slowing down.  A simple solution, with easy inputs and clear guidance with respect to the approach without limiting thinking. It’s the 5-3-1 Strategic Framework.  

The 5-3-1 Framework

Initially, I created the 5-3-1 framework to solve a specific problem at work.  What’s been surprising (in a good way) is that I’ve continuously gone back to it for my own uses as well as applying it to other companies and challenges and it keeps delivering every time.  So, I now use it all the time.

The 5-3-1 Strategic Framework isn’t for all things, but it is especially good at delivering the steps needed to create and align a strategy.  It helps deliver enough structure without limiting flexibility and it keeps all participants on track (even me) to get to superior outcomes.  So after spending the majority of my career steering clear of most frameworks I’ve now focused everything I do around a specific framework – how’s that for irony.  Now, let’s talk through how you can use it too.

The 5-3-1 works just the way it sounds. 

5 critical questions answered,

in 3 days,

to get 1 aligned strategic formula for growth. 

Working participants through 5 critical questions from the beginning where they must first clearly define the problem they are solving, to who they are solving it for, how they are solving it, how they will competitively position themselves around those elements and finally, the corresponding plans they should leverage that best delivers the outcomes they are seeking.

What’s nice about the framework is that it also factors in time. The entirety of the framework can be worked through in 3 days. 

So, now you have 5 sessions to answer 5 interconnected questions.  Each of the 5 steps needs to be worked through properly.  The main reason that companies skip steps is because they are in a hurry.  Time is ticking.  Unfortunately, skip a step and you’ll inevitably feel the friction of a misaligned plan at some point.  By working through them quickly with a clear plan they can all be done in days. 

And finally, by coordinating and aligning the response you create the right strategic formula.  So, 5 sessions, 3 days and 1 strategic formula for growth, 5-3-1.  Do it right and do it fast.

So now that you know there’s a framework for quickly creating the right strategy for growth, let’s go through each of the steps so you can start using it.

Step 1: What Problem Are You Solving?

Seems like an obvious question.  Too often, companies can’t answer this right off the bat.  They begin describing their product or service and what it can do.  They often list a series of things they are working on or want to help with.

A problem is something big and meaty.  Think about it in the context of the type of change or disruption you want to create.

Always start by clearly defining what problem you’ve set out to solve.  What’s the problem?  How big is it?  How long has it been a problem and why hasn’t anyone solved it so far?

Don’t get into the fine points or details here.  Don’t focus on a solution, or what you’re currently able to do or not.  Focus on the problem you’re TRYING to solve.  That problem becomes the guiding light for you.  Your North Star when things get messy, and stressful, when there are debates about your product or pressure from investors.  It keeps you centered at all times.

You’ll find that this is an absolutely pivotal first step in your journey and the conversation to get there usually only takes about 30-45 minutes max.

Step 2: Who Are You Solving The Problem For?

In other words, who is your customer? 

Again, this sounds obvious, but it amazes me how frequently this hasn’t been fully defined.  You need to know your customer.  You need to understand all the critical things that make them the right target for you.

Who are they?  First, think about them as a person and imagine what they want, what they’re dealing with and what is stressing them out.  

• What size?  What industry? (Now and future)

• How do they work today?

• What pain points do they have?

• What tools are they already using?

• Are they buying your product today and, if so, why?

• Where can you find them/reach them?

• How do they buy?  How often?

• Is the buyer the same as the user?

Once you really know your customer then you can start to figure out how you will solve the problem for them.

Step 3: What Do You Do?

In other words, what product or solution do you offer?

Most companies I work with try starting the conversation here.  I understand that.  You’ve built something you’re proud of.  It’s a great product or service that has all sorts of amazing capabilities and you want to discuss it.

I don’t care.  

It doesn’t matter how awesome your product or service is if you don’t know what problem it’s solving, and you don’t know who you’re solving it for.  But once you can answer those things then it’s time to dig in and check out your capabilities.  You probably also have a roadmap but is it the right one? 

• What does your product do?

• What does it do that other products don’t?

• What is it exceptionally good at?

• What is it not good at?

• Are there areas that customers comment on in a positive way? Negative way?

• How much of the product is self-serve vs high touch?

• Who are key competitors and how does the product compare?

• What else do you envision for your product’s future state?

Step 4: How Will You Position It?

In other words, what is your strategic positioning relative to competition?

In the past, I’ve made the mistake of assuming that if I had a great product that solved a problem that it would be easy to sell.  The problem with that assumption is that your target customer doesn’t know your product like you do and they may not even realize that they have the problem you know they have.  It’s also worth noting that this can change and may need to.  The dynamics of the market change with new technology, new competitors or a fundamental shift like work from home caused by COVID-19.  So, no matter the stage you’re at, it’s always worth resetting here. 

How you talk about what you do and how it helps them and how it is different than competition is so critical that it can’t be understated.  I view this step as the key to the entire thing.  You have your building blocks and now you need to assemble them in the right manner to position your business. 

• How will you frame the product?

• Are we focused on benefits or pain removal?

• How will it resonate with customers?

• How is it different than competitors?

• Is it simple and easy for anyone to understand or uniquely targeting a specific niche?

• How to price it – not the actual price but is it a high-end offering, a low-cost offering?  Something bought once or ongoing?  Pricing tells a story.

Step 5: What’s The Plan?

A lot of companies want to jump here.  They think they are ready to go and don’t have time to waste on strategy.  

I get it.  Strategy discussions can be interesting and motivating but you can’t spend all your time having them.  The issue is that if you are misaligned on any aspect of your strategy, you will create friction for the business that will catch up with you.  It can limit your growth or, worse, cause a business to fail.  The trick here is to find the right balance between getting it right and doing it fast.

• Sales?

• Marketing?

• Both Sales & Marketing?

• Online or offline or both?

• Inbound or Outbound or both?

• Product roadmap

• Are there specific events or places (online or offline) where the target customer can be reached efficiently?

• Pricing

• What resources are required?

• How to measure success (fail fast and adjust)

• Financial planning

• Partnerships or channels

5-3-1 gives you everything you need to get to the right strategic formula to grow – so use it!

If you need help, let’s talk.

P.S. I will be doing additional posts over the next month going into more details for each question.