Credited with the marketing success that rocketed Microsoft to the top of the business world, Brad Chase has built a successful career working with some of the biggest brands in the market. Through his years of experience Chase has developed his own strategy for a company's sustainable growth and development.
Chase has cleverly based his strategy on Einstein's infamous equation, and tweaked it to create the Strategy First Model: E x MC2
In Chase's live stream he likened a business venture to gambling. When creating a business, you are hedging your bets on the next successful thing. Unlike gambling, your bets should be strategic and based on a formulaic calculated risk and market assessment before you take the big risk. In his E x MC2 model Chase broke down the meaning of each symbol:
- E = Execution
- M = Marketing Potential
- C = Customer Value (It is squared because it is the most important element of a successful strategy.)
The next logical question is, “How do I find a winning strategy?” Chase emphasized multiple tactics to assess the market, to situate your business or pivot your business to market trends. Chase also coined the expression “adapt to the TIDES.”
- Economic and Environmental
Using the TIDES, businesses can hedge their bets to maximize strategy relative to the competition. Part of building strategy involves finding existing gaps in the market and filling those gaps. Look to expand the universe and go beyond your original product or service. Develop additional products or services that compliment your original business model. When you have a product that is on top, continue to make your product great and expand your product line to supplement your success.
Subscribe to CEOtoCEO's Premium membership to view Brad Chase's entire talk as he goes further into the details of building a winning strategy and gambling with a better hand. For even more information, you can buy Chase's book Strategy First: How Businesses Win Big.
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