Strategy

Strategy

Every business, no matter its size or track record of success, needs a clear business strategy. This strategy is a plan of action designed to achieve the goals of the shareholders by laying out a road map of the route to those goals.

Step 1: Defining your goals

Once you have a clear understanding of what your business is trying to achieve, you are significantly more likely to succeed in achieving your goals. That’s why the first part of developing a strategy is to work with you to define your goals. These could include preparing the business for sale to realize its share value, driving long-term profitability for a regular dividend, or any number of other legitimate shareholder goals. See Case Studies

Step 2: Understanding your business model

Once your goals are agreed, a detailed understanding of the business model needs to be built, and from that an understanding of the key success drivers. A business model is an understanding of how different parts of the business interact, including understanding gross profitability, sales costs as percentage of revenue, manufacturing costs, and many more business factors.

How these factors interact is the core of your business model, and by understanding how they interact, you can better understand what drives your business success and where to invest resources to drive the change you want. See Case Studies

Step 3: Developing the business plan

After you have agreed your goals, understand your business model, and have identified your key success drivers, developing a business plan becomes significantly easier.

Your Business Plan is a detailed action plan designed to achieve your business goals. It includes the right business structure and budget to help you focus resources on the key success drivers. It needs to be an action plan with clearly identified plans of action and fiscal targets.

Next: Driving the Business Plan

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"Mark proved to be the most successful appointment to the company’s executive team at a demanding time, when the business was growing rapidly. His recommendations dramatically improved the business model. He showed himself to be market orientated, with great strengths of being able to focus both at strategic and tactical levels. He is intelligent, analytical, able to lead effectively, and financially aware. There is no doubt Mark deserved considerable credit for his contribution to the outcomes achieved for the shareholders and team members during his period with the company. September 13, 2009."

Howard Field, Director, Hospitality Careers Online Inc

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