What is This Thing Called Strategy?

Business gurus will tell you that you need to have a clear strategy for your business to ensure that you move forward. However, firstly need to establish WHY you are in business and what your PURPOSE is – once this has been done you can start to look at the strategies required to meet your Business Goals.

There is not one aspect of Business Strategy – it breaks into 4 key areas all under the strategy banner. Under Business Strategy we would list:

Essentially ‘where do we intend to play?’

What market segments are you going into?
What geographical area are you covering? and
What Products / Services are you going to offer?

In other words, ‘how do we win?’

Positioning v the competition
Differentiators – why buy from you and not them?
Unique approaches – what can you do that others cannot?

Look at People and Processes

The capabilities of your people – are they up to what you need?
The processes that support them – are they efficient and effective?
Development and Retention – can we keep our good people? Why would they stay with us?

Consider…

Are you ahead of the game and competition in terms of technological development?
Are you using the right and most effective/ efficient technology?
Are you prepared to change and keep up with the rapid pace of change in this area?

So, strategy for a business cannot be covered under that one banner. There are a number of aspects of Business Strategy, as we outline above, that, when thought through and then implemented well, will create a successful business with a strong future.

We love to talk Strategy and we would be happy to take you through how we have helped hundreds of businesses put together what they need to and implement it – contributing to great business improvement and development.

For a free, no obligation chat, contact us on: 0116 232 5231 or get in touch with us at ignite@tinderboxbusinessdevelopment.co.uk.

Remember we specialise in growing businesses!! You have nothing to lose and a lot to gain!

The Tinderbox Team