Strategy – say what now?

Is “strategy” a scary word for you or maybe you don’t think it is relevant for a small business?

Having overall plans and objectives of where your business is heading can have a significant impact on the direction of your business and the choices you make. Putting together a strategic plan isn’t as difficult as you may think – it doesn’t have to be “War & Peace” and may even be condensed to a one-page outline of what you’re looking to achieve.

Once you have a vision of where you want your business to be, it is then a matter of focus and taking the relevant actions in line with your goals.

Some may think that having vision and mission statements is a corporate thing and not relevant for small businesses, however, having these in place can form the foundations of your business. They also help you make decisions going forward and are a constant reminder of where you’re heading.

Your vision should outline where you want your organisation to be or how you want to be perceived in the domain in which you operate. It can be inspirational:

  • Disney – to be one of the world’s leading producers and providers of entertainment and information

Mission statements define the fundamental purpose of a business. They define how you are going to deliver the vision:

  • Google – to organise the world’s information and make it universally accessible and useful

These statements should be shared in the public domain for your customers, staff and other stakeholders to see. This can only enhance your business and may in some cases help you distinguish yourself from your competition.

The important thing is to make sure you take action. Nothing is going to happen or move forward by simply having these statements.

Sometimes you can be your own worse enemy, with procrastination and lack of focus getting in the way. If you’re the sort of person that gets distracted easily and you find your to-do list just gets longer rather than shorter, you may need someone to hold you accountable – to make sure sh*t gets done!

Something that can help you implement your strategy and ensure you are on track is a mastermind group. Read more about mastermind groups.

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