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Have you ever wondered why some businesses thrive while others with similar products merely survive? The secret often lies not in what they do, but how they think about what they do.
Dom Bish joins me for a fascinating deep dive into the critical difference between strategy and planning—a distinction that could transform your business approach. With five years at the helm of Bolster Risk Management and over a decade in financial services, Dom brings practical wisdom about creating genuine business value.
We unpack the concept of finding your unique "business sandpit" where you can outperform competitors. As Dom explains, "The blue ocean is where you want to be. Where's that sweet spot?" With approximately 590,000 small businesses in New Zealand competing across limited industries, carving out your distinctive space is more crucial than ever.
The conversation takes surprising turns, revealing how businesses often misunderstand what industry they're actually in. McDonald's isn't just in fast food—at the corporate level, they're fundamentally in real estate. This kind of strategic clarity changes everything about how you position and grow your business.
Perhaps most valuable is Dom's framework for thinking about your business as an investment asset. Just as property investors buy, add value, protect their asset, extract income, and eventually exit—business owners should apply this same strategic thinking to their most valuable asset. Yet many fail to plan their exit strategy until it's too late to maximize value.
Whether you're a solopreneur or leading a growing company, this episode will challenge you to elevate your thinking from day-to-day planning to genuine strategic analysis. As Dom powerfully states, "Strategy is not a plan. A plan is not a strategy." Understanding this difference could be your competitive edge.
Ready to transform how you think about your business? Listen now, and discover why the best time to start thinking strategically is today.
