Copyright forbes
By Lisa Bodell Traditional strategic planning is often more of a ritual than a breakthrough moment. Teams gather, review last year’s metrics, and churn out a cookie-cutter annual plan that feels stale before it’s even implemented. The spark of creativity we hope for usually feels more like a flicker. But what if I told you that the key to future-proofing your business lies not in the typical annual review, but in a radical approach called “Killing Your Company”? Yes, you read that right. "Killing the company" sounds drastic, even counterintuitive, but it’s a strategic planning exercise that has been proven to generate powerful insights. Captured in my book Kill The Company, this bold approach challenges teams to step outside their comfort zone and look at the business from the perspective of a competitor with unlimited resources. It forces you to consider not only how to improve but how to avoid becoming a target for disruption—by imagining the worst-case scenario and confronting it head-on. Start with your Weakness: How Killing Your Company Makes You Stronger iStock Bulat Silvia Why "Killing Your Company" Works At first glance, the idea of "killing" your business seems like a death wish. But it’s precisely this shock value that gets your team thinking honestly about its weaknesses and vulnerabilities. When you ask the tough question, “If you were our main competitor, what would you do to put us out of business?” you’re forcing your team to break free from conventional thinking and consider threats they might otherwise overlook. This method draws on the idea of anticipatory innovation, a concept explored in numerous business studies and exemplified by companies like Apple and Netflix. These companies have thrived not just by improving their products, but by actively preparing for their own obsolescence—restructuring and evolving before they became irrelevant. In essence, proactive strategic planning means confronting your company’s vulnerabilities before external forces do it for you. Companies must continuously reevaluate their business models and be willing to disrupt themselves in order to stay competitive. Rita McGrath, a Columbia University Business School professor and best-selling author of Seeing Around Corners points out, “by forcing the uncomfortable conversations to take place before there is a real crisis, leaders can confront their own emotions and discomfort in relative safety. I’ve found that preparing for multiple uncertain futures is also vital as these scenarios tell our brains what weak signals to look out for, even if subconsciously. That in turn positions us to take action in the period of optimal warning.” MORE FOR YOU In a world where industries are rapidly evolving, businesses that fail to acknowledge their own potential obsolescence are at serious risk. This is where "killing the company" becomes a game-changer—by forcing organizations to see themselves through a critical lens, they can innovate more effectively and eliminate the risks of stagnation. Steps to "Kill the Company" and Future-Proof Your Business Gather a Diverse Team A successful “kill the company” exercise requires input from individuals across various departments—sales, operations, marketing, finance, product development, and tech. Diverse perspectives will generate more creative, out-of-the-box ideas and ensure no stone is left unturned. Each department will see different vulnerabilities and strengths within the company, enriching the exercise with multifaceted insights. Pose the Provocative Question Ask your team: “If you were our competitor with unlimited resources, what would you do right now to put us out of business?” This is the critical question that will push people to think aggressively about potential threats. It encourages them to put themselves in the shoes of those who might disrupt your market, from pricing wars and new technologies to customer service innovations and acquisition strategies. Brainstorm and Document Give your team the freedom to brainstorm without limits. Whether you use sticky notes, a whiteboard, or digital tools, capture every idea, no matter how extreme it may seem. This phase is all about exploring possibilities—no idea is too big or too small. The goal is to map out all the ways your company could be outpaced, whether through changes in customer behavior, technological disruptions, or more agile competitors. Organize and Prioritize the Ideas Once the ideas are on the table, start categorizing them. What threats are immediate and severe? Which are more hypothetical but still worth considering? By grouping ideas according to impact and ease of implementation, you’ll create a clear roadmap for where to focus your efforts. Identify Top Threats As a group, choose the top three threats that could pose the greatest risk to your business. These might be based on emerging trends, technological advances, or shifts in the competitive landscape. By identifying and ranking these threats, you can prioritize where to direct your resources and innovation efforts. Generate Preventative Solutions For each identified threat, brainstorm preventative measures. What can your company do today to counteract these vulnerabilities? For example, if a threat involves new technology, is there a way your team can adopt that technology earlier? If the threat is a competitor’s pricing strategy, how can you create more value or differentiate your offering? This phase turns anxiety into action, allowing you to proactively build strategies that ensure your business is not caught off guard. Leverage Strengths Finally, make sure to assess your company’s unique strengths. What do you do better than anyone else? How can these strengths be used to safeguard your business from the threats you’ve identified? This part of the exercise balances the doom-and-gloom brainstorming with a forward-thinking approach that ensures you also build upon what’s working in your favor. The Result: A Strategic Plan that Works At the end of this exercise, you’ll have a strategic plan that’s not only practical but based on real-world risks and opportunities. You’ll have a much clearer idea of where your business stands in the face of disruption, and more importantly, how to avoid becoming irrelevant. More than just a way to address immediate concerns, the “kill the company” exercise creates a mindset of continuous innovation—a mindset that embraces change rather than fearing it. By practicing "killing your company," you empower your team to think boldly, act decisively, and always be one step ahead of potential threats. This shift in strategic planning doesn’t just prevent complacency; it cultivates a culture of agility and resilience, enabling your company to thrive in the face of uncertainty. The Takeaway In an era of constant change, future-proofing your business requires more than just the usual planning. It demands a willingness to confront uncomfortable truths, challenge the status quo, and proactively design a future where your company remains relevant. By "killing your company" and embracing the insights this exercise provides, you can build a strategy that isn’t just about surviving—it’s about thriving. So, ask yourself: What would it take to put your company out of business? And how can you use that insight to make your business stronger, more innovative, and future-ready? Editorial StandardsReprints & Permissions
