You're an executive in a startup. How do you make strategic decisions that lead to success?

As an executive in a startup, you face many challenges and opportunities that require strategic thinking and decision making. How can you ensure that your choices align with your vision, goals, and values, and that they create value for your customers, stakeholders, and team? In this article, we will explore some key principles and practices that can help you make strategic decisions that lead to success.

1 Know your why

Before you make any decision, you need to know your why. Why are you doing what you are doing? What is the purpose and mission of your startup? What problem are you solving and for whom? What is your unique value proposition and competitive advantage? Knowing your why will help you define your vision, goals, and values, and guide your decision making process. It will also help you communicate your why to your customers, stakeholders, and team, and inspire them to support your decisions.

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Eugenio Araújo

IA & LLM | Startups | Empreendedorismo | Mestrando Inovação Tecnológica UFMG | Consultor | Palestrante | Mentor
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Compreender profundamente o "porquê" das ações e decisões é fundamental em todos os níveis de uma empresa, desde o operacional até a liderança. A prática de realizar as atividades rotineiras sem questionamento pode levar à perda da noção do propósito original, desviando o foco da missão e dos objetivos estratégicos da organização. Para combater essa tendência, é essencial incentivar uma cultura de curiosidade e entendimento, onde os liderados são motivados a explorar e compreender os motivos subjacentes às suas tarefas e decisões. A técnica dos "7 porquês" é uma ferramenta valiosa nesse processo, pois ajuda a desvendar as camadas subjacentes de uma questão, garantindo que a equipe mantenha alinhamento com os valores e a visão da empresa.

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2 Use frameworks and tools

Strategic decisions often involve complex and uncertain situations, multiple factors and trade-offs, and diverse perspectives and interests. To make sense of these situations and evaluate your options, you need to use frameworks and tools that can help you structure your thinking and analysis. For example, you can use SWOT analysis to assess your strengths, weaknesses, opportunities, and threats, or OKR to set and measure your objectives and key results. You can also use tools like decision matrices, mind maps, or scenarios to compare and visualize your alternatives and outcomes.

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Eugenio Araújo

IA & LLM | Startups | Empreendedorismo | Mestrando Inovação Tecnológica UFMG | Consultor | Palestrante | Mentor
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O apoio de estruturas e ferramentas na melhoria das operações é crucial, especialmente quando se trata de tomar decisões estratégicas em meio a cenários complexos e incertos. Uma das ferramentas que valorizo significativamente é a matriz de priorização RICE, que analisa Alcance (Reach), Impacto (Impact), Confiança (Confidence) e Esforço (Effort). Esta matriz é uma aliada poderosa no planejamento, permitindo uma avaliação quantitativa e comparativa das iniciativas em diferentes horizontes temporais, como mensal, semanal ou trimestral. Utilizando a RICE, é possível priorizar projetos e tarefas com base em seu potencial de alcance, impacto esperado, nível de confiança nos resultados e esforço requerido, otimizando assim a alocação de recursos

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3 Seek feedback and input

You don't have to make strategic decisions alone. In fact, you can benefit from seeking feedback and input from your customers, stakeholders, and team. They can provide you with valuable insights, perspectives, and suggestions that can improve your decisions and increase your buy-in and commitment. You can seek feedback and input through various methods, such as surveys, interviews, focus groups, brainstorming sessions, or experiments. However, you also need to be selective and critical about the feedback and input you receive, and filter out the noise and bias that may distort your decisions.

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4 Be agile and adaptable

Strategic decisions are not set in stone. They are subject to change and revision as new information, opportunities, and challenges arise. Therefore, you need to be agile and adaptable, and willing to adjust your decisions based on the feedback and results you get. You also need to be prepared for contingencies and risks, and have backup plans and exit strategies in case your decisions fail or backfire. Being agile and adaptable will help you cope with uncertainty and volatility, and seize new opportunities and learn from your mistakes.

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5 Evaluate and reflect

After you make a strategic decision, you need to evaluate and reflect on its impact and effectiveness. You need to measure the outcomes and results of your decision against your objectives and key results, and assess whether you achieved your desired goals and value. You also need to reflect on the process and experience of making the decision, and identify what worked well and what didn't, what you learned and what you can improve. Evaluating and reflecting will help you learn from your decisions, celebrate your successes, and address your gaps and challenges.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Marta Sousa Monteiro ☁️

💼Manager, AWS Startup Programs (EMEA) 🌎Startup ecosystem and VC’s specialist 🧑🧑🧒Parenthood in the workplace advocate 📍Career Coach in the making (focused on young talent & mom’s in tech)
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To make strategic decisions in a startup: 1. Define clear goals aligned with the vision. 2. Gather data from market research and competitors. 3. Evaluate options considering risks and benefits. 4. Prioritize based on impact and feasibility. 5. Decide and execute, being agile. 6. Monitor progress and adapt as needed. 7. Learn from successes and failures. 8. Communicate decisions effectively. 9. Stay flexible in a dynamic environment. 10. Seek advice from mentors and experts for insights. This approach blends analysis, creativity, and adaptability, fostering success.

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Erasmus Mensah-Ackon

Social Entrepreneur | Startup Angel | Startup Development Specialist | Champion for Sustainable Development & Youth Empowerment
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Have an accountability partner but take responsibility for the decion outcomes. Refrain from blaming others for the negative outcomes from their advice. Acknowledge and celebrate your mentors.

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You're an executive in a startup. How do you make strategic decisions that lead to success?

1

2

3

4

5

6

1 Know your why

2 Use frameworks and tools

3 Seek feedback and input

4 Be agile and adaptable

5 Evaluate and reflect

6 Here’s what else to consider

Startup Development

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You're an executive in a startup. How do you make strategic decisions that lead to success?

1

2

3

4

5

6

1 Know your why

2 Use frameworks and tools

3 Seek feedback and input

4 Be agile and adaptable

5 Evaluate and reflect

6 Here’s what else to consider

Startup Development

Rate this article

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