Job one when approaching strategy planning is to understand the different possible strategic options available to you. Before you make any decisions or begin to plan out one particular approach to your growth you need to integrate a range of different directions to be confident you're making an informed decision.
There is arguably no better tool for succinctly and clearly explaining the core strategic options than the Ansoff Matrix. Ansoff is a tool used to understand these different strategic options, and develop specific ideas and possible directions for your business. The options mapped out in this framework range from doing 'more of the same' to higher risk diversiifcation approaches.
This quick video guide will tell you everything you need to know to about the Ansoff Matrix - what it is, why it's so useful, how to use it and what to do with the ideas and insights it will give you.
So, grab your popcorn, sit back and enter the Matrix...
For more information check out our Ultimate Guide to the Ansoff Matrix.