Having strategies is very important in most aspects of life, especially in operating a business.
The key strategy is to be able to “differentiate yourself from your competitors”.
There are two tests relating to “Strategies”:
Strategic thinking is needed in all businesses on a regular basis. Why not have a regular senior leaders meeting each week, to think about where the business is heading and what changes need to be made relating to the following questions…
How do you “communicate with customers”? How does a customer differentiate your services from your competitors?
Who are your “core customers”? Why do they deal with you? Have you developed strategies to improve this relationship?
Is your “brand” recognised in the marketplace? What does is it convey to a potential customer? Do you need to develop strategies to improve your brand recognition?
Has your business developed and articulated the “key points of differentiation” and discussed these with your team members, so that they can clearly articulate to a potential customer what your business stands for (e.g. the “Elevator Pitch for your business”)?
Are these points of difference promoted on your website? On social media? To your team members so that they have a regular reminder of the points of difference?
Does the leadership team discuss strategies and the implementation of strategies review results on a regular basis, to determine where subtle changes need to be made?
All companies need to continually review their strategies as they relate to the differentiation of services to customers/clients.