A26: You may create and implement your own ‘DIY’ strategy, just as you may build your own house, maintain your car or grow your own food. The concept is certainly not impossible, yet certainly not advisable without some professional input. There are books to help you do almost anything these days. CAUTION: Advice for those in areas of high risk should get a professional to do most of the analytical work.
Strategy needs revisiting regularly and this can prove expensive if you have to hire help each time. Strategy isn’t complicated or difficult to do if your guidance, information and controls are professionally compiled. The value of ld strategy lies in the professional sounding board provided. Twenty years of consulting face-to-face with individuals and companies is shared with clients. This is a valuable resource. A strategy handbook doesn’t provide customised solutions to unique problems.
A team working through a handbook while markets, goalposts and resources are changing - creates a complex situation. The greatest risk is the cost of restarting a strategy appropriately. Compare it with having to restart the building of a house after first removing an incomplete house and its foundations. Strategy requires good architecture, strong foundations, appropriate walls and roof.
Using incorrect data or assumptions, could result in getting errors in results. It is likely that ld strategy will assist in detecting errors and omissions. This is not a warranty and highlights the need for those responsible for primary data to be responsible for its accuracy. Where possible, ld strategy is vigilant to assist managers with their requirement to verify data to avoid decisions being made on erroneous data.