What is a Business Strategy and, why is it Significant?
A business strategy is a clear set of plans, actions, and goals. It ultimately outlines how a business will compete in a particular market.
A business strategy includes:
Your strategic objective – what do you want to achieve? Aims such as increased revenue and sales are common objectives in the business world
The services/products that you plan to incorporate
The customers to who you want to sell to
Your business goals – these will help you to reach your strategic objective.
Tasks and milestones – your team member duties to help reach goals. For example, producing fresh weekly social content.
Imagine your strategy as a clear roadmap – firstly you will need to establish where you are – what your destination is – what route you will take – and then you can figure out how to get there!
For a deeper look into why business strategy is vital to your venture’s success, take a look at our Importance of Business Strategy article.
Our approach to strategy
At Business Doctors we can help you to plan ways to make more time to spend on your business rather than in your business. We will work closely with you to build a strategy that will help you to grow your business and achieve your desired goals.
We have been creating successful business strategies for business owners for almost two decades, so we know all too well that in order to be effective, a business strategy has to be a living and breathing thing, with clearly identified goals and ongoing monitoring to ensure its effectiveness.
If you are completely new to the idea of having a robust business strategy, you will benefit from the advice and support of a certified Business Doctor.
Take a look at our frequently asked questions, and if you have any additional questions, please get in touch by completing the form below.
Frequently Asked Questions:
Why do you need a business strategy?
A business strategy will create a vision and clear direction for your business. It will provide your people with clear goals and prevent them from losing sight of your company’s aims.
What’s the difference between a business strategy and a business plan?
A strategic plan will provide you with focus, direction, and action to move your business from where you are now to where you want to go. Whereas a business plan provides a structure for ideas that can form the basis for a new business idea.
How do I create a business strategy?
We have developed the Business Doctors Ten Steps. This process is designed to help our clients ask the right questions, define a competitive advantage, and create achievable goals for the long-term success of the business. We have identified 10 business growth tips – download your copy of our Top 10 Tips here!