Develop A Winning Strategy
What is business strategy?
There is a lot written about strategy but in the simplest terms it means setting a direction for your business. By defining your strategy clearly, you make it easier for yourself to prioritise tasks, and thereby provide the foundations for business growth.
What do I need to consider when setting my strategy?
You cannot be all things to all customers and you do not have to be the market leader to compete successfully, but you do need to focus on your business' strengths to find a way to differentiate from other competitors. Ask yourself the following questions:
- Why is the company in business?
- What are we best at doing?
- Which customers should we continue to serve or start serving?
- Which products/services should we stop offering, continue to offer, or start offering?
- Why have we decided on these strategic directions?
Is there any help available?
The Growth Hub provides regular free events, such as the half-day Business Model Canvas workshop, to help businesses define their business model and think about strategy. Make sure you sign up to our newsletter here to ensure you stay updated about forthcoming courses.
If you meet the High Growth service criteria detailed here, you may be eligible for additional free, ongoing support.