Thursday, November 26th, 2020

Does Your Business Have a Clear Strategy? (Part 2)

By Natasha Golinsky on Sep 19 2011 • Filed under Business

Does your business have a clear strategy? (Photo)In last month’s post I wrote about how 77% of businesses run their day-to-day operations without any clear business strategy. In short, they do business as usual all the time without stopping to think about how they can long-term differentiate themselves from their competition. We covered the importance of identifying your business’ sweet spot, simplifying your focus, developing a support team, working to your strengths, and the value of setting boundaries and scheduling.

This month I want to cover the less-discussed interpersonal aspects of strategically positioning your business for greatness.

1. Self Improvement:

We have all heard the cliché, “Your business can only grow to the extent that you do.” (The problem with clichés is that they’re usually true.) When was the last time you attended a seminar related to growing your business? What books are you reading? Do you apply what you’re reading in those books? Do you have a business coach who can help take you to the next level? If you’re not getting better then your business won’t move ahead either. Some ideas: put some training audios on your iPhone and listen to them while you’re driving, attend one new seminar about your industry each quarter and join or create a mastermind with other leaders in your industry.

2. Staffing:

Do you have the right people in the right jobs? Did you know that often by simply rearranging the roles of your staff your productivity will improve? Take the time to really get to know your staff. Find out who they are, what they love (or hate) about their current role and what their goals are. When you line up what they want with what they’re doing at work you’ll see improved morale but also better results. If you have someone on staff who brings the team down, fire them – it will hurt you more to keep them around.

3. Social media:

Are you having conversations with your target market? Are you intentionally learning about what their wants and needs are? Are you taking in their feedback as free advice for how to improve your product or service? Companies used to spend thousands of dollars to gather that market data  and now you can get it for free. Don’t feel like you have to be everywhere online – get involved in the forums where your target prospects are and then dig-in getting to honestly know them. They will thank you for it with repeat business. (Read the book “Thank you Economy” by Gary Vaynerchuk for more ideas.)

4. Service:

Is your business’ focus to be truly of service to your target prospect or just to close the sale? I love Jim Rohn’s expression: “If you help enough people get what they want, you will always end up getting what you want.” Your buyer can sense when you’re looking at them like a paycheck so change your focus. Approach your marketing with the mindset of, “How can I truly help this person? What does my prospect stay up at night worrying about? How can I communicate with them in a meaningful, personal way?” When you take the focus off of the bottom line and put it on truly customizing solutions for your prospect your business becomes so much more fun, so much less pressure and much more profitable.

Building a business is a dynamic process – there is never a finish line. If your business is not constantly changing, improving and re-inventing it will indefinitely get left behind those that do. Success in business is never an accident; it takes a lot work and attention but the great news is that you can do it. Find yourself a great strategic thinking coach and you’ll never be the same again!
 


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