Strategy Diamond Template
Consider all the elements you need to create an integrated and powerful business strategy.
About the Strategy Diamond template
What is a strategy diamond?
To achieve key objectives, every business assembles a series of strategies. But what elements should you consider when building a strategy? How can you stay ahead of your competitors while also building your brand and bottom line?
A strategy diamond is a collection of elements forming a coherent business strategy. These elements include: Arenas, Differentiators, Vehicles, Staging, and Economic Logic.
What are the advantages of using a strategy diamond? Most strategic plans focus on just one or two of these elements, creating gaps that might cause problems for your business later on. A strategy diamond can help you stay focused and ensure you’re fulfilling all of your business’s needs rather than one or two.
When to use a strategy diamond
The strategy diamond is designed to help you consider the most important questions you’ll need to answer when your team defines your business strategy. Organizing the strategy as a whole, so each part integrates with the others, helps you figure out your business’s goals and the best way to achieve them.
Create your own strategy diamond
Making your own strategy diamond is easy. Miro’s simple whiteboard tool is the perfect canvas to create and share this integrated strategy model. Get started by selecting this Strategy Diamond template.
An effective strategy contains five key elements: Arenas, Differentiators, Vehicles, Staging, and Economic Logic. Remember that it’s important to consider each element in the diamond because they are all interrelated and mutually reinforcing. To ensure you’re meeting your goals, make sure you can answer the following five questions.
Step 1: Arenas - What do we plan to achieve? What is the nature of our products, services, distribution channels, and market segments? What geographic areas do we plan to expand into? What technologies will we use?
Step 2: Differentiators - What sets us apart from our competition? Image, price, product dependability, how quickly we get our product to the marketplace? How will we win the marketplace?
Step 3: Vehicles - How will we get there? Strategic alliances? Development? Licensing
Step 4: Staging - How will we advance our product or positioning? How quickly will we move? In what order we will move forward?
Step 5: Economic logic - How will we obtain our returns? By lowering costs to give value for the price? Providing premium services for premium pricing?
For better or for worse, your company’s chances for success hinge partially on your market. As such, before you start building products and planning strategies, it’s a good idea to conduct a product positioning exercise. A product positioning exercise is designed to situate your company and your offering within a market. The product positioning template guides you to consider key topics such as defining your product and market category, identifying your target segment and competitors, and understanding your key benefits and differentiation.
Features are what make a product or service fun, but adding new ones is no walk in the park. It takes many steps—ideating, designing, refining, building, testing, launching, and promoting—and just as many stakeholders. Feature Planning lets you put a smooth, sturdy process in place, so you can add a feature successfully, and spend less time and resources doing it. That makes our Feature Planning Template a smart starting point for anyone looking to add new product features, especially members of product, engineering, marketing, and sales teams.
What's on Your Radar
Do you or your team feel overburdened by tasks? Having trouble focusing on particular problems? What’s on Your Radar is a thought exercise in which you plot ideas according to their importance or relevance. Designers and teams use what’s on your radar to ensure that their ideas are within the scope of a given project. They also rely on the method to assess whether a given solution is likely to solve the problem at hand. But even if you’re not a designer, the method can help assign priorities and ground your ideas in reality.
Social Media Calendar
Most businesses have a social media presence, but many of them aren’t using social media as a competitive differentiator. The Social Media Calendar template allows you to plan, schedule, and craft posts for LinkedIn, Twitter, Facebook, Instagram, and Pinterest, so you can leverage social media as a strategic tool to promote your brand. Use the Social Media Calendar template to plan out your social content a week, month, or quarter in advance. Collaborate with the marketing team, prepare for product launches and major initiatives, and share draft social posts.
To update your product in valuable ways—to recognize problem areas, add features, and make needed improvements—you have to walk in your users’ shoes. Example mapping (or user story mapping) can give you that perspective by helping cross-functional teams identify how users behave in different situations. These user stories are ideal for helping organizations form a development plan for Sprint planning or define the minimum amount of features needed to be valuable to customers.
To-do lists are simple, yet effective tools that can break down large tasks into smaller, concrete steps. They can range from individual daily tasks to broader group goals. You can make a to-do list for any project or deliverable that your team is responsible for. Breaking down tasks into concrete steps helps your team reach your goals with ease. With the To-Do List template, you can customize your to-do list to include photos, images, videos, color-coding, and documents.