What makes for an effective business strategy?
First off, let’s begin by stating what a business strategy is not before we dive into what a business strategy is or what it does.
The world around us works like a fine tuned machine when oiled properly. People create businesses, which in turn employ people within that community. Your business is either a for profit, or a not for profit business in the eyes of the federal government.
Regardless of what type of business you run, you need capital to finance your business. Companies receive capital (money) from selling products, services, or ideas to other people or businesses who just so happen to need those products, services, or ideas (surprising, eh?)
Your job as a business owner is to create a company that fulfills the customer’s need for these things mentioned. If people need their yards mowed, you pay the fee, register the business name, and start a lawn mowing business. It sounds very simple and straightforward, correct?
While beginning the business can be easy going, keeping it in motion is a rocky road. Perhaps this is why more than 20% of small businesses fail within the first year of opening.
Your strategy is not how you begin a business, nor is a strategy how you dissolve a business (although there are exit strategies, however we are not covering that here). Your strategy is how your operate the mechanisms that drive your business. What keeps you competitive? What ensures that you get your piece of the pie? What is your positioning to weed out competitors, and gain more of your market (more lawns to mow)?
When setting your strategy, it takes a strong analyst with a dedicated mind and perseverance.
Make sure to find reputable, hard working consultants that give you the best of everything. You will never find anyone more dedicated than our team here at One Moore Strategy. Call us today to find out more!