Do you have a coherent growth strategy that makes sense?
- Is your business moving in the right direction?
- Is everyone working together to achieve the same goals?
- Is your company maintaining or gaining market share?
- Are taking advantage of important market trends within your industry?
- Do you have the right people, policies and systems in place to take advantage of growth opportunities when they come your way?
- Is your company keeping up with the competition when it comes to sustainability?
If you answered “NO” to any of these questions, perhaps it’s time to talk about strategy.
Keys to Designing and Executing a Winning Strategy
- Base the plan on facts — not fantasies, rosy assumptions, or groupthink. Accurate, detailed, current market research is an essential input to any strategic plan.
- Consider a wide range of alternatives, even if some at first seem too far-fetched, or come from unexpected sources (the administrative assistant in marketing, or the most junior member of the strategic planning committee.)
- Build alignment and buy-in with managers, staff and stakeholders through effective communication, management and monitoring.
- Set goals that are specific in time and extent. For example, “achieve a 15% market share in Europe within 15 months”.
The best approach is to keep your options open, so we adapt our process to fit your specific circumstances, rather than rigidly adhere to one fixed strategic planning process or methodology.
We’ll walk you through a rigorous, collaborative thought process that –
- Evaluates the core competencies of your business in relation to the current and future market realities,
- Outlines strategies that will
- Use your competencies to best advantage,
- Differentiate your business in ways that are meaningful to customers, and
- Enable you to profitably grow and gain market share.
Critical Strategy Questions
We’ll summarize and articulate the strategic plan in a set of clear, succinct documents that address these critical questions:
- What is your business model? What are your major revenue streams, products and services?
- Which markets offer the greatest opportunities? Which markets have the greatest risks?
- Who are your present and potential competitors?
- What barriers to entry exist (or can be created) to build a wide moat that protects your business from present and future competitive incursions?
- Who are your present and prospective customers and what critical unmet needs will motivate purchase decisions?
- What is your customer value proposition? (A credible promise of value, delivered to customers in ways that distinguish your company from anyone else in your line of business)
- How should you position your company’s products and services within the markets you serve? Will you be the low cost leader, the premium service provider, or something else?
- How will you gain new customers? What marketing and sales channels can be developed to best advantage?
- What are the emerging market trends and how can you position your product/ service portfolio to take advantage of these trends moving forward?
- What strategic resources (including alliances with other businesses) can reduce your cost of operations and give you the edge?
- What projected milestones must be achieved as you grow your business?
Contact Us now to set up a free initial consultation!
A finely tuned strategic plan is invaluable; a mediocre or poor plan is worthless at best.
A finely tuned strategic plan is useless if you can’t execute. For that reason, we don’t stop at developing a plan. We can help your company execute the strategy, providing you with the resources you need to translate the plan into effective action. In practice this means monthly or quarterly reviews, introductions to vendors, marketing partners, alliance partners, advisers, or specialist consultants.
A full-fledged strategy planning engagement can take two to three months to complete. This timeframe allows ample time for research, brainstorming, analysis, and documentation, and is appropriate for most middle market companies.
Alternatively, we can work on a tighter budget by collapsing the process down to several one-or two-day workshops, combined with research beforehand and analysis and documentation afterwards. The whole expedited process can take as little as three to four weeks.