Before moving forward with a strategy, you should first consider whether you can bust it before your competitor has a chance to. Use this exercise to critically examine your strategy to find possible flaws:
Divide your strategy group up into two teams: Competitor A and Competitor B. Remove the CEO/ CFO; they eavesdrop but do not participate.
Pick two of your real-life competitors, assign one to each team, and have the teams move into two separate rooms.
Considering all you know about your company and your newly developed strategy, discuss:
What should Competitor A’s (or B’s) strategy be to compete against you?
How should Competitor A (or B) position you as they talk to your common customers?
Encourage team members to immerse themselves in their roles as if they were real outsiders to your company.
They should refer to their assigned competitor company as “our company.”
They should refer to you by your company name.
Let them trash talk about you and your products/services (in privacy of the meeting room)
Have the two teams come back and report on their findings.
This exercise helps you gain a better understanding of your strategy’s possible pitfalls so you can plan accordingly.