Deep strategy work is time-consuming because the marketplace is constantly changing. If you’re looking to effectively relaunch your business right now – time is of the essence so speed trumps precision.
Review and define your strategy using these tools, worksheets, and asking yourself key strategic questions.
Identifying your Strengths, Weaknesses and Trends will help get your head above the forest and the trees.
- Get clarity on trends and how these will impact your business going forward?
- What is going to be hot?
- What isn’t?
- Think local? (this is likely to be a big trend)
- Security and safety of customer environment?
- Supply chain?
- What are your top competencies/skill/abilities? How can you leverage these now?
- Be clear on what you are weak at – stay away from these things indefinitely OR until you have enough cash and resources to become a serious player in the market.
- Don’t lose your ambition – there will be opportunities now that only come along once in a generation. For your business – what are they?
- Identify 3 or 4 other players in your industry and open a dialogue with them – what are they seeing as their opportunities and their risks/changes
Strategy Checklist:
7 Strata of Strategy
The 7 Strata of Strategy is a framework for integrating several important strategic components into one coherent plan.
Think deep; and discuss this with your strategy team.
Review your 7 strata strategy paper to ensure relevance or required updates:
- Words you own (your brand)
- Sandbox (target market)
- Core Customer (Juicy – profitable ones)
- Your uncommon offering
- Brand Promises (Marketing)
- Differentiating activities (your unique mix that is hard to replicate)
Remember in this time, ideas and business will be born and the best way to own a category is to create it
List out your goals – be clear, communicate with your team, and put yourself in a commanding position as you relaunch into our new world of business.
We understand that working through all these strategic point can be very difficult but always remember, something is better than nothing. Dig deep and work through what you can.
You may need some help here?
Find coaches and mentors
- No one has achieved peak performance without a coach or a team behind them
- We need people who give us feedback – that is how we improve
- Every great achiever has one or multiple coaches that help to guide them
- We aren’t good at seeing ourselves as others do or thinking outside our own scope/point of view
Connections:
- What people or advisers can we connect you to that could help you to prepare your business for the relaunch?
- What service or challenge do you need help with that we could link you with someone to solve?
How can Walsh Accountants help?
Walsh Accountants have a dynamic team of Advisors that specialise in helping business owners take control of their numbers to grow their business. We call this our Focus Advisory team and it’s their mission is to help business owners establish goals and stay focused on achieving them.
We are in the business of business – we live it; breathe it; and we love it!
If you need some assistance or guidance working through strategy planning, contact us today for an obligation free discussion.
