I've been thinking a lot about where to go with this newsletter. I set out to inspire what's possible in creating financial independence through horizontal income streams. In other words, a portfolio approach to work so that if you lose your traditional job, you have other sources of income to tide you over as you redefine your main thing.

More and more, having a single job is risky in that it's like having one client. Things may be great one day, but the next, unforeseen events require the company to send you packing. It's not personal, they tell you. Except it is. It's your livelihood at stake.

On the flip side, self employment, especially in the United States, is hard. There's a helluva a lot of competition. You have to wear all of the hats at the same time. And then figure out how to get decent healthcare that doesn't sap every last penny you've got. It's hard. It's not for everyone.

I know. I've been on both sides. Yet you and I both see so many of the success stories. Instant millionaires. Side hustles. And more! The hype cycle is enough to drive one mad.

It's through this lens that I think about all of the advice peddled out there. And back to the reason I started this newsletter: to help me figure all of this out by helping you. And to do it in the open.

I also want to make sure the time you spend here is time well spent. To that end, I always appreciate when you reach out and share what sticks and what doesn't.

This week I've been thinking a lot about business strategy and how that applies to you. Let's compare the strategies of the two leading sports brands: Nike and Adidas, and the two largest American car makers: Ford and GM.

Nike and Adidas are both laser focused on the consumer.

Seems like a no brainer, right? Nike has long been about the belief that if you have a body you are an athlete. Adidas hasn't been too far behind. But now they're both zeroing in:

From Nike's 2020 Annual Report: “NIKE, INC. IS A GROWTH COMPANY.”

What company isn't actually a growth company? For if you're not growing, you're dying. But most don't put it so front and center.

"We create innovative, must-have products. We build deep, personal connections with consumers. And we deliver an integrated marketplace with compelling retail experiences."

"We recently unveiled the next phase of our strategy: Consumer Direct Acceleration. Starting in FY21, we will transform Nike faster to define the marketplace of the future. We expect our business to reach 50% digital penetration between our owned and partner digital experiences – and we will create a truly consistent, connected and seamless digital marketplace to match."

"We’re delivering on our “Triple Double” – our high-impact differentiators of speed, innovation and direct connections with consumers.

Through CDA, we are also simplifying our consumer construct and investing in an end-to-end technology foundation to fuel our transformation. We will unlock more growth and efficiency for the business, while driving speed and responsiveness globally."

"Human potential, and the power of the human spirit to come back against almost insurmountable odds drives all that we do here at NIKE."

Adidas: 2015 - 2020: Creating the New’ (Don't all brands focus on creating new stuff and make people want it? There's much that's been written on built-in obsolescence from computers to light bulbs. In fact, Ive written before how in the early days of the light bulb a light bulb consortium developed standards for how long bulbs would last so that you'd need to keep buying them. The first ones didn't burn out. )

Adidas just unveiled their new strategy for 2021 to 2025: ‘OWN THE GAME’

"‘Own the Game’ is our strategy that guides us through to 2025 – a plan rooted in sport. Sport is adidas’ past, present and future. ‘Own the Game’ puts the consumer at the heart of everything we do and is brought to life by our people. Our strategic focus is on increasing brand credibility, elevating the experience for our consumer and pushing the boundaries in sustainability. The execution of our strategy is enabled by a mindset of innovation across all dimensions of our business as well as our digital transformation. We own the game and will drive significant growth."

Note how they put 'the consumer at the heart of everything' they do. Just like Nike!

"OUR PURPOSE: THROUGH SPORT, WE HAVE THE POWER TO CHANGE LIVES

We will always strive to expand the limits of human possibilities, to include and unite people in sport and to create a more sustainable world.

OUR MISSION: TO BE THE BEST SPORTS BRAND IN THE WORLD

We are the best when we are the credible, inclusive, and sustainable leader with a first or second position regarding market share in each strategic category in the long term." - Adidas 2020 Annual Report

The takeaway: Both are focused on the consumer, sport and sustainability for the long term. They have to be or else find themselves irrelevant.

Similar but different in their approach. In talking with people who've worked at both companies, there's more hierarchy at Nike. To meet with a VP to discuss ideas, one prepares a Power Point deck. At Adidas, it's more informal and collaborative. Less about posturing and more about getting to the spirit of things.

Yet both are about maximizing raw human potential. And both are indisputably successful. Regarding Adidas desire to the 'best', that's elusive as the notion of best is in the eye of the beholder. There's no true 'best' to measure oneself by.

What does this mean for you? Before we go there, let's look at Ford and GM:

Ford's corporate strategy:

"There is ample evidence of how we are transforming our company and leading the way in this new era of smart vehicles for a smart world. We remain committed to establishing Ford as the world’s most trusted company by understanding and addressing the needs of our stakeholders as a fit, agile and accountable company."

Note the emphasis on being fit, agile and accountable. They, like many large corporations, are known to be bloated, wasteful and slow.

"Our goal of delivering our Creating Tomorrow Together plan can be seen in tangible, pivotal actions that are continuing into 2020:

Developing a fresh, more targeted vehicle portfolio that will win in markets around the world – some of which our competitors are exiting. By the end of this year, Ford will have the newest product lineup in our history. Our portfolio will include the all-new F-150 and Mustang Mach-E, followed soon after by the return of the Bronco which we will unveil this year.

Rocking the automotive industry with our reveal of the all-electric Mustang Mach-E last November. That was a major inflection point for our company as we continue to execute our plan to offer a range of compelling propulsion choices for our customers that are high-performing and good for the planet by reducing CO2 emissions.

The Mustang Mach-E is a powerful example of how Ford will compete and win, in part, by leveraging iconic nameplates that strike at the heart of customers around the world. We will do more of that later this year when we introduce the first hybrid electric version of the storied F-150, and an all-electric version of the world’s most storied truck line will follow.

Establishing Ford as a true leader in connected vehicles, with beneficial implications for vehicle owners through our growing capabilities in services and customer satisfaction. Last year, 100-percent of our new vehicles in North America were shipped with standard high-speed 4G LTE modems.

Differentiating Ford with our pragmatic approach to developing a compelling business model for self-driving vehicles with our partner Argo AI. Together, Ford and Argo have the largest urban AV testing footprint in the world, positioning Ford exceptionally well for commercialization and subsequent scaling of this technology – delivering solutions focused on moving people and goods with fleets of purpose-built hybrid vehicles in dense cities that are greatly in-need of new transportation solutions." - Ford 2020 Annual Report

General Motors’ strategy is to:

“deliver safer, simpler and more sustainable transportation solutions for our customers. In doing so, we’ll realize our vision for personal mobility — we’ll help the world see a future with zero crashes, zero emissions and zero congestion.

I appreciate the aspirational focus on saving lives, reducing traffic and helping the climate, but zero is pretty dang unattainable. One could say impossible given you can't control those around you. Unseen forces. To me, this makes it corporate speak.

"Our strategy reflects today’s transportation revolution that is transforming how people move, an effect similar to the debut of the automobile more than a century ago. The technologies leading this transformation of personal mobility will be autonomous, electric, connected and shared. We are focused on initiatives that capitalize on these new technologies and business models to create products, offer services and advocate for policy that looks at transportation as a system and mobility as a service. This will result in a world where sustainable transportation is a reality for daily life and enables communities to be more prosperous and livable." - GM 2020 Annual Report

From business to politics it's important to have a simple story people remember and connect with. Problem is, it's often too vague to be actionable. Behind each of these strategies is a desire to keep making a lot of money and remain relevant. There are investors to keep happy. Not to mention employees that depend on them for their livelihoods.

I can look through many companies and find similar strategies. Much in business is the same. These strategies are table stakes to being in business at this level.

The magic is in the secret sauce each has to achieve these strategies. One can say that all four of these companies make great products that deliver on their promises. Each has their own identity. And raving fans that swear by them. Each is also driven by bitter rivalries with each other.

Same as Coke and Pepsi.

Some years they win. Some years they lose. But in the case of GM and Ford, it's really hard and expensive to compete in making cars.

In another industry, photography, Kodak didn't fare so well. Seeing themselves as making film, digital wasn't taken as seriously as it should have been. They couldn't stomach the loss of film. They let the market vote. Fuji was able to reinvent.

How does this apply to you?

You face enormous competition every day. For your job. For what you offer. You can either let the market tell you what you're worth. Or you, like these companies, can define what you stand for. Why you matter. And why people should pay attention to you. You can have a strategy, which might be like many others out there. But the secret is the sauce you bring. You need to know what that is. You need to know how to show people what that is and why it matters to them.

You've got to go beyond corporate speak. I think Nike and Adidas do a much better job than Ford and GM at storytelling. They're far more emotional. Far more grounded. They stand for something. You need to too.

What might your strategy be? What do you stand for?