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 below 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
FOUR STEPS OF STRATEGY:
what DO you want to achieve specifically
BUSINESS ENVIRONMENT -
what is happening currently in your competitive environment
what is available to you
PLAN AND IMPLEMENT -
what steps will need you take to reach the goals AND what will you actually do