Do you think your business needs a strategy? Isn’t strategy something that’s confusing for most, and rather unnecessary for smaller businesses? Surely that’s what the fat cats get paid for, thinking about strategy for big organisations. And your business doesn’t need a fat cat, that’s for sure.
So why bother with strategy for SMEs? Can’t you race ahead unhindered by this unnecessary layer of restrictions and rules? To find out, answer these questions: Whatever it is you do, do you want to win??Do you want to be the best, to survive whilst others fail, to grow and you become stronger?
If the answer to either or both are “yes”, then you need a strategy. Did Richard Branson have a strategy when Virgin Records was started? Of course he did. Having a winning strategy applies in all walks of life. Do Mercedes F1 have a strategy for winning? Of course, they have a long-term strategy for the operation, an annual plan for the team, and different strategies for every single race, as Lewis Hamilton explained after winning the 2015 Australian Grand Prix.
Individual sports men and women, as well as small and medium sized businesses, need a clear strategic plan for their business. From the business plan then comes the strategy and planning for parts of the operation, especially marketing. Where are your target customers and how do you reach them? Without a strategy, you will, without doubt, be spending good money on reaching the wrong audience.
Sure, go ahead and spend a fortune on paid search and hope the right people are clicking on your ads, costing you every time they do. Or join the future’s band of winners, and spend some time and a little investment in planning how you’ll reach your target audience. If you want to be a winner, you absolutely need a strategy.?Want to know more?