In essence, your business strategy is a combination of your business goals and the major initiatives needed to achieve them. This might include, for example, developing new products and services, and moving into new markets, or responding to new entrants and increased competition in your existing market.
Your goals need to take account of the environment you want to operate in - markets, legal systems, culture and so on - and the relative strengths and weaknesses of your business. Key questions to ask are:
- What business are you in?
- What business do you want to be in?
- How will you compete in that business?
Many small and medium sized businesses don't have the skills needed - or the time - to think strategically about their business and answer these questions confidently. They worry about making that next step and lack the confidence to compete for bigger contracts because even if they understand the risks of moving out of their comfort zone, they don't know how to navigate through the opportunities and threats facing them.
We can help! We have the skills to help you understand your situation, identify the way forward and implement your strategy to achieve your goals. We provide a fresh pair of eyes and objective analysis of your challenge to help you determine the optimum solution for your business. This may result in a new and unexpected direction for your business, which you may be unable to see because you are too close to it.
Call us now on 020 8242 6271 for a free, no obligation discussion on your business strategy.