Over the last few posts, I introduced my Ebook 12 Steps to Business Transformation and I defined Vision, Mission and Values, which are the first 3 steps of the 12 transformational steps. This week we are going to talk about Business Strategy.
Defining the Business Strategy for your business is step 4 in my new Ebook “12 Steps to Business Transformation.”
Business Strategy considers all the internal and external market forces, your business strengths and weaknesses, your vision, mission and values, the service and/or product your business sells and the marketplace that you are selling into. The Business Strategy pulls all these divergent thoughts, ideas, conditions, and concepts together and defines a high level plan to engage successfully in the marketplace.
Without a clearly defined business strategy, your business is destined for decline and failure. This does not mean you need a 10,000-page business strategy document that takes years to write and now just collects dust on a shelf in your office.
What is needed is a simple, concise, focused and nimble plan that you constantly refer to, communicate from and measure progress against.