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Why the road to bad strategy is often paved by storytelling ▪ Daniel Kahneman on the psychology of stories ▪ 20% discount on my Strategy Audit
We hear a lot about the importance of communicating through stories. Unfortunately, the road to bad strategy is often paved by storytelling.
It’s true that in general we respond more powerfully to stories than to bare facts or abstract concepts, and because of this the right stories can be very helpful.
But not necessarily – and certainly not always.
Years ago, I consulted with an organization that had developed a genuinely outstanding digital product.
But the organization had spent all its money and more in less than a year with very little to show for it.
When I read the business plan, it was clear why this had happened: The rhetoric was inspiring, but I was amazed at how utterly unrealistic it was – and I’ve read my share of unrealistic plans over the last 25 years.
The story of what they would accomplish sounded so good that they didn’t ask how – or how likely – they were to acquire the resources and build the capabilities necessary to succeed.
In these 5-minute episodes of The Successful Strategist, I discuss the hidden but deadly danger of mistaking plausibility for probability. Follow the links below to the individual episodes, and subscribe to the podcast on any major app.
The Threat of Storytelling (S3:E4)
Miracles and Bullseyes (S2:E5)
Fit, the Fourth Element of Strategy (S1:E14)
Daniel Kahneman on storytelling
If people can construct a simple and coherent story, they will feel confident regardless of how well grounded it is in reality.
Strategy Audit – 20% off if you’re one of the first FIVE
Don’t sell yourself on a story. Across industries and sectors, fewer than 15 percent of organizations achieve what they hoped their strategic plans would allow them to do. Half of organziations actually damage themselves trying to implement their plans.
My Strategy Audit provides a prompt, independent, practical, and affordable evaluation of your strategic plan.
The first five organizations that sign up for a Strategy Audit before August 31 will receive a 20% discount.
Email me at email@example.com for more information.
Those who are invested in a strategic plan are not in a good position to evaluate it. Confirmation bias and a reluctance to question sunk costs leave a large majority of executives unaware of flaws or unwilling to express doubts.
A Strategy Audit will allow your organization – for-profit or non-profit – to candidly discuss and rapidly improve your strategic plan, vastly reducing your risk of wasted resources, internal conflict, damage to relationships with investors or donors, and unsustainable service to customers or beneficiaries.