Do you have a new strategy? Or are you tweaking a current one? Oftentimes the basis for a new or existing strategy is a common self-deceptive practice of thinking that you are better than your competition on all fronts. Many of the companies I work are actually better than their competition and we still use this technique to help them further sharpen their go-to-market approach.
-Divide your management team into two groups and have each group think like one of your competitors. Give them a couple hours to really think about it, do research and maybe even call a few trusted customers.
-Ask: How and where would you (as your competitor) most likely attack your company? Where are you the most vulnerable? Which products or services don’t stand out as unique and are more subject to price competition?
-No sacred cows: Encourage your team to be open and frank. Check your emotions at the door and have some fun with the process. Friendly name-calling and nerf-ball throwing is allowed.
Then debrief: What are the three weakest areas that we discovered? How can we shore them up to make them stronger. What products/services or activities can we eliminate to free up time and resources needed to strengthen those critical areas?
Let me know if you try this approach and how you made this technique even more effective.