STRATEGY 101

strategy 101 bukkyolaleye

THE BIG 'HOW'

A strategy is a plan of action designed to reach an aim, get a specific result or sets of results. So it is a well thought out intentioned plan to achieve a goal. In your business you have an overall goal - to make some or substantial profit, build a successful business and you also have smaller goals foe example you want introduce an new line to your store, enter a new market or take on employees. To achieve any of those goals you will develop and implement a strategy.

There are four key areas to  look at.

Watch the video to learn more about those areas

START WITH THE WHY

The reason it is important to know your why - which by the way can change along the way is that it keeps you going when things become challenging. ….

It also helps establish the first part of the strategy. Now a real strategy involves doing some background work, and then making c certain decisions. This includes not just  what we will do but also what we will not be doing to achieve the stated goals. Strategies take into consideration your why like i mentioned before, your what -  and how the actual steps, you know making sure those are prioritised. An effective strategy is about having a clear direction

 

 
 
strategy 101 bukkyolaleye

FOUR STEPS OF STRATEGY:


GOALS -

what DO you want to achieve specifically

BUSINESS ENVIRONMENT -

what is happening currently in your competitive environment  

RESOURCES -

what is available to you 

PLAN AND IMPLEMENT  -

what steps will need you take to reach the goals AND what  will you actually do

 


STRATEGYBukky Olaleye