James Saretta. MBA alumni and Group Strategy Director at JB Hi-Fi and The Good Guys, identifies the key skills that lead to good business strategy.
Strategy is often seen as the domain of one of the most senior people in an organisation and is frequently talked about as a bit of a black art—especially by those who aren’t involved.
Anyone can write a strategy. You can gather research, draw concise conclusions about where and how to play, identify the necessary capabilities, and sketch a roadmap on how to get there. Many can follow this formula and create something that looks like a strategy.
Many of the great consulting houses will tell you that good strategy needs to balance rigour and relevance.
Rigour asks: Is the thinking right? Is the research sound? Are the numbers correct? Have you sized the market accurately?
Relevance asks: Do you understand the nuances of the industry? Do you have good insight into the business and how it thinks? Have you considered your insights well enough to present a set of recommendations that just make sense?
All of this is absolutely necessary, but different organisations often value one over the other. The choice is largely cultural and often reflects the executive team’s confidence in their own abilities. Rigour is often a fallback to ensure everyone covers their proverbial bases. Relevance is experience and art.
There are some critical skills that separate good strategists from ordinary ones.
Appreciate and challenge the culture
Every organisation has a unique culture—a set of beliefs, values, and norms that shape how people think and behave. You need to appreciate the culture—understand the language people use, the mental models they follow, and the dynamics that drive decision-making. At the same time, you have to know how to challenge the culture in ways that provoke growth, discomfort, and innovation. The ability to simultaneously respect and challenge is key to unlocking progress. Language matters. If you can’t communicate in a way that aligns with the organisation’s cultural language, your strategy may never see the light of day.
Think about thinking
Sometimes you need to pause and think about how to think. What frameworks or mental models might help tackle the issue? What assumptions need to be questioned? Strategy often begins by determining how to approach a challenge, not just solving it. This is metacognition—thinking about thinking. It’s the ability to step back and evaluate whether the problem is even framed correctly before diving into solutions. Sometimes, you have to go slow to go fast.
Be curious and open
Learn. Learn. Learn. Learning happens when you read widely, explore different fields, and consult people from all walks of life. Curiosity is what keeps you and your thinking fresh and relevant. Without openness to learning from unexpected places, you risk being trapped in your own echo chamber, blind to the best ideas.
Be okay with being wrong and know how to deal with it
The complexity of today’s world means that you’re going to be wrong. Nobody gets it right every time. Being wrong is part of the job, but how you handle it sets you apart. Adaptability is critical. In fact, being wrong can sometimes open the door to greater insights. You need to shift your thinking when necessary and keep the organisation moving forward, even through uncertainty. The job is to help navigate that uncertainty.
Fiercely question your own worldview
A key aspect of strategic thinking is constantly interrogating your own assumptions and biases. Your worldview isn’t right—it’s just your worldview. Surround yourself with people and content that challenge your ideas, perspectives, and beliefs. Engage with viewpoints outside of your industry, culture, and comfort zone. Staying inside your safe space just limits your thinking and creativity. Seek out discomfort in your thinking.
Be a great storyteller
Storytelling is a crucial capability for any strategist. The data, the slides, the presentations are all important and play a role. A great storyteller paints a vision of the future that is not only logical but also emotionally compelling. Emotion converts more people than logic. Stories are a deeply human way to communicate and are always more powerful than statistics.
Being a strategist is about far more than writing down a plan. It’s about thinking deeply, questioning fiercely, learning continuously, understanding people, and communicating compellingly. All of these skills will set you up for a rewarding career, whether you’re a strategist or not.
James Saretta
James joined JB Hi-Fi in 2016 after working as a management consultant for over 20 years. With the acquisition of The Good Guys, James took on the role of Group Strategy Director working with both JB Hi-Fi and The Good Guys. James’s work as a management consultant focused on strategy development and facilitation across a number of industries including retail, telco, high tech, and government.