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Business strategy is as difficult as chess
1. Chess, a game of strategy, just like business by Epsilica Consulting “Follow the tactics of chess and reap the rewards”
2. The first mover gains immediate advantage Chess: White always moves first Business: First to market gainsmomentum through market share
3. The weakest are destroyed first Chess: Pawns are small, move slowly and easier to remove Business: Small companies with no protection fall quickly
4. Higher prominence gives more power Chess: Control of the centre of the board gives tactical advantage Business: Control of a market makes it difficult for opponents to penetrate
5. The best players think ahead Chess: Experience allows you work out your opponents moves and your counter moves Business: Strategic planning is all about what if’s, good ones plan for all eventualities
6. Opponents who have more experience tend to win Chess: Chess is not about luck, novices make more mistakes Business: It is harder for small businesses to compete
7. Experience is powerful Chess: Experienced players learn how to avoid common mistakes (checkmate in 4 moves is a lesson never forgot) Business: Learning from experience makes the company stronger
8. Gaining ground is followed by consolidation Chess: Players who gain an advantage normally win if the advantage is protected Business: Retaining competitor advantage makes the opposition more vulnerable
9. Some moves are just not logical (or are they) ? Chess: Players sometimes sacrifice high value pieces for added advantage later Business: The competition occasionally does something outlandish
10. Mistakes can cost you the game Chess: A misjudged move can lead to checkmate Business: An ill-judged decision can kill your business
11. Never play for a 50% share Chess: Playing for a draw is a fallback position Business: It’s a ruthless world there are always winners
12. The small ones occasionally win through Chess: Pawns, the least powerful pieces on the board can become the most powerful with persistence Business: Small companies occasionally gain the upper hand with perseverance (or luck)
14. This presentation was brought to you by Epsilica Consulting Ltd. Epsilica provides specialist consulting services to startups, SMEs and multi-national companies across industry sectors. For further information visit http://www.epsilica.com