In this episode of The Australian Business Podcast Summer Series, Owen Rask breaks down what business strategy really is — and why most founders overcomplicate it or ignore it altogether.

Strategy isn’t a document you write once and forget. It’s an ongoing decision-making process that evolves as your industry, customers and resources change. Owen explains why early-stage businesses have plenty of time but very little capital, and how that equation flips as you grow — forcing founders to think differently about risk, research and execution.

You’ll learn how to research your industry properly using practical tools like SWOT analysis, competitive mapping and cheap experiments that de-risk big decisions before you commit serious time or money. Owen also shares how to identify your biggest existential risks, invert problems using Charlie Munger-style thinking, and focus on what could kill the business before chasing what could grow it.

This episode also introduces key strategic frameworks including the 80/20 principle, the now–where–how model, and the difference between a wartime CEO and a peacetime CEO, drawing on lessons from Ben Horowitz. You’ll discover when to double down, when to cut, and how to build feedback loops that tell you — early — whether your strategy is working or broken.

If you want clarity instead of chaos, and execution instead of endless planning, this episode gives you the tools to master business strategy.

Topics covered in this Australian Business Podcast episode

• What business strategy actually means in practice

• Using data instead of guesswork

• Industry research and SWOT analysis

• Identifying and managing existential risks

• The 80/20 principle for focus and growth

• Wartime CEO vs peacetime CEO

• Knowing when to change strategy

Episode Resources

• Join Rask’s business community

• Rask’s Australian Business Podcast

• Rask Business 101 (free course)

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This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. You should consider if the information is appropriate for your situation before acting on it.If you’re unsure, consult a licensed financial planner. The Rask Group is NOT a qualified tax accountant, financial adviser, or tax professional. You can access The Rask Group’s Financial Services Guide (FSG) here: https://www.rask.com.au/fsg.

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