Workshop 6: Strategy (How You'll Win)

Expected Duration: 1-2 hours of full uninterrupted focus

Overview

Strategy defines the approach you'll take to achieve your objectives, focusing on leveraging strengths and opportunities while mitigating weaknesses and threats. This workshop transforms your goals into actionable strategic initiatives that create competitive advantage and sustainable success.

What You'll Achieve

By the end of this workshop, you will have:

• Clear strategic initiatives aligned with your goals
• Understanding of your competitive advantages
• Action plans that leverage opportunities and address challenges

Pre-Workshop Preparation

• Review your Purpose, Mission, Vision, Values, and Goals from previous workshops
• Consider your current capabilities and market position
• Please send any feedback to etienne@familyofx.com

Workshop Structure

Step 1: SWOT Analysis

Create a Strategic Assessment

Materials Needed: Large four-quadrant chart, Post-it notes

Draw a large chart and brainstorm in each quadrant:

Strengths (Internal Advantages)

What internal advantages do we have?

• Financial expertise and resources
• Entrepreneurial spirit and innovation
• Extensive professional networks
• Long-term investment horizon
• Family unity and shared values
• Access to experienced advisors

Weaknesses (Internal Challenges)

What internal challenges do we face?

• Over-reliance on specific industries
• Generational knowledge gaps
• Limited diversification
• Governance complexity
• Communication challenges
• Resource constraints in certain areas

Opportunities (External Advantages)

What external opportunities can we leverage?

• Emerging markets and sectors
• Private equity growth opportunities
• Digital asset innovation
• ESG investing trends
• Demographic shifts
• Technological advancement
• Policy changes favouring family offices

Threats (External Risks)

What external risks must we mitigate?

• Market volatility and economic uncertainty
• Inflation and currency risks
• Geopolitical instability
• Regulatory changes
• Technology disruption
• Succession challenges in family businesses
• Climate change impacts

Step 2: Strategic Insights

Analysis and Synthesis (20 minutes)

Use your SWOT analysis to identify strategic approaches:

• Leverage Strengths + Capture Opportunities
  • How can we use our advantages to capitalize on market opportunities?
• Strengthen Weaknesses + Capture Opportunities
  • How can we address gaps to better pursue opportunities?
• Leverage Strengths + Mitigate Threats
  • How can our advantages help us navigate risks?
• Address Weaknesses + Mitigate Threats
  • How can we shore up vulnerabilities while managing threats?

Example Strategic Insight:

• Strength: "Access to experienced investment advisors"
• Opportunity: "Private equity opportunities in growth-stage companies"
• Strategy: "Increase allocation to private equity with focus on technology and healthcare sectors"

Step 3: Reverse Engineering the Vision

Vision-Back Strategy Development

1. Start with Your Vision (10 minutes)
   • Write your vision statement at the top of a board
   • Example: "To establish a legacy of wealth and financial empowerment for future generations"
2. Work Backward (20 minutes)
   • Ask: "If we've achieved this vision, what specific strategies helped us get there?"
   • Break the vision into actionable strategic steps
   • Think about the pathway from current state to future vision

Example Vision Backcasting:

• Vision: "Create a family legacy of financial excellence and innovation"
• Strategic Path: "Expand into high-growth industries → Build diversified global portfolio → Launch family-owned investment fund → Develop next-gen leaders"

Step 4: Draft Strategy Statements

Combine insights from SWOT and vision backcasting:

Example Strategic Initiatives:

Investment Strategy"Expand the portfolio into high-growth industries such as technology, healthcare, and digital assets while maintaining our core focus on sustainable, long-term value creation."

Risk Management Strategy"Implement disciplined risk management practices to balance growth with long-term stability, including geographic diversification and systematic stress testing."

Private Equity Focus"Increase exposure to private equity, targeting growth-stage companies with scalable business models and strong ESG credentials."

Philanthropic Strategy"Focus philanthropic initiatives on education and sustainability, ensuring measurable community impact that aligns with family values."

Family Development Strategy"Develop comprehensive leadership training and mentorship programmes for the next generation, preparing them for effective stewardship."

Operational Excellence"Apply the principle 'Eye of the owner makes the cattle grow fat' through hands-on oversight and active engagement in key investments."

Capital Discipline"Maintain financial discipline by never 'putting money after bad money' and implementing rigorous investment criteria and exit strategies."

Step 5: Strategy Validation

Test Your Strategies (15 minutes)

For each strategy, ask:

• Does this align with our goals and objectives from Workshop 5?
• Is this realistic given our strengths and resources?
• Does this address our key opportunities and threats?
• Will this move us closer to our vision?
• Is this consistent with our core values?

Step 6: Prioritisation and Resource Allocation

Implementation Planning (15 minutes)

• Rank strategies by potential impact and feasibility
• Consider resource requirements and dependencies
• Identify which strategies to pursue first, second, third
• Plan for pilot programs or phased implementation

Key Strategic Principles

Oversight: "Eye of the owner makes the cattle grow fat"

• Maintain active involvement in key decisions
• Regular monitoring and performance review
• Direct engagement with investment partners

Discipline: "We don't put money after bad money"

• Rigorous due diligence processes
• Clear exit criteria and stop-loss protocols
• Objective performance evaluation

Expected Outcomes

This workshop creates strategic clarity. You'll leave with:

• Clear strategic initiatives tied to your goals
• Understanding of competitive advantages
• Framework for resource allocation and prioritisation
• Action plans for implementation

Implementation Framework

Strategic Execution Best Practices:

• Assign strategy owners and teams
• Create detailed implementation plans
• Establish regular strategy review sessions
• Monitor market conditions and adjust as needed
• Communicate strategy clearly to all stakeholders

Success Factors:

• Start with pilot programs where possible
• Build in flexibility for course corrections
• Maintain focus on long-term objectives
• Ensure adequate resources for execution
• Celebrate strategic wins and learn from setbacks

Next Steps

Your strategic framework will guide Workshop 7: Operating Principles (How You Work), where you'll establish governance structures and decision-making protocols to execute your strategy effectively.

This workshop is part of the Family Office Strategic Planning Series. Each workshop builds upon the previous one to create a comprehensive framework for long-term success.