The hardest word in strategy is "no."
Not no to bad ideas. Anyone can reject bad ideas. No to decent ideas. No to good ideas that aren't great. No to great ideas that don't fit.
I've watched strategies collapse under their own weight. Not because the ideas were wrong, but because there were too many of them. Every department added their priority. Every stakeholder inserted their objective. The result was a strategy that tried to be everything and ended up being nothing.
Fever-Tree built a company worth over £1 billion by making premium tonic water. Just tonic water. They said no to: making gin, making vodka, making every other mixer. They said yes to: sourcing quinine from Rwanda, using natural ingredients, pricing at 3x competitors. Madness? Tesco and every premium bar in the world now stock them. Because they chose one thing and did it completely.
Southwest Airlines has had the same strategy for fifty years: low-cost, point-to-point, no-frills flying. Every decision is measured against that strategy. First class? No. Meals? No. Hub-and-spoke routing? No. They've said no to decades of conventional wisdom. It's made them remarkably profitable.
Ryanair takes this even further. They've said no to: allocated seating (initially), free water, window shades that don't have ads on them. They've said yes to: charging for everything, flying to secondary airports, relentless cost discipline. Are they loved? No. Are they successful? They carry more international passengers than any airline in Europe. Because they chose one thing—lowest cost—and said no to everything else.
The question isn't "What should we do?" It's "What should we stop doing?" And then having the courage to actually stop.