23 Hidden Strategies Behind Tony’s Chocoloney’s £400M Growth

Most companies talk about strategy as if it’s a spreadsheet problem. At Tony’s Chocolonely, strategy is about choosing which risks you’re willing to live with — permanently. In this conversation, Doug from Tony’s Chocolonely breaks down how real strategic decisions get made when the stakes are high, the information is incomplete, and playing it safe isn’t an option. This isn’t theory. It’s what happens when your strategy has real consequences — for margins, growth, and an entire global supply chain.

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🎲 Why business strategy is closer to poker than chess
⚖️ How Tony’s decides which risks to carry — and which to refuse
🚫 Why “sensible” decisions often lead to weak strategy
📉 What most companies lose when they optimise for safety
🌍 Making strategic bets at global food scale
🧠 Leadership decisions you only face when the stakes are real Whether you’re a founder, marketer, operator, or senior decision-maker, this is a masterclass in how to think about risk, trade-offs, and long-term bets — without hiding behind frameworks.

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