VIDEO: How to develop a strategy to build the business you want
HI guys – Diane here.
I promised I’d dive deeper into developing a strategy for your business, as I know that this can be a little overwhelming – especially if you’re just starting out or have never really done this before. So, I’m going to really keep it simple for you guys so that you can get focused and intentional, fast…
If you watched the previous video, you’ll remember that I said that strategies are essentially your decision-making guide: it’s what you’re trying to build and accomplish in your business. The first step to developing your strategy is getting clear on what you want.
What does your business look like and what are you trying to accomplish?
Once you have an idea on what your business looks like, you can start to build SMART goals and metrics around that vision. Those goals and metrics are what will drive your strategy.
Take me for example: I want to build an agency and am clear what the agency model looks like for me, including the number of team members and clients, the kind of clients, and revenue milestones. Before you can build your strategy, you have to be clear on what you want and the actual goals around that.
Once you have clarity and goals, the strategy is there and just need a little refinement. The next question you need to answer is…
What area of my business do I need to focus on in order to reach these goals and build what I envision?
For a lot of new business owners, getting clients and building the business is the primary focus. So the strategic focus should be around marketing and sales. As you start to gain momentum, the strategic focus will start to shift toward building your team and supporting your existing business. And as you start to climb to the next level and consider what the next iteration of your business will be, the strategic focus shifts again towards systems and operational efficiency and leverage.
So those are the steps to building your strategy:
- Get clear on what you want in your business and what your dream business looks like
- Set some smart goals and metrics around that vision
- Aim your strategic focus based on those goals you’ve set.
This is the key to a great strategy: your strategic focus areas are tied to specific goals, which are traced back to your vision for your business and your alignment between what you want to build and what you’re going to focus on to get there.
I hope this helps you get clear on how to develop your strategy. If you need more guidance and structure, look out for the details on my upcoming, virtual strategy-and-action-planning workshop that will be held in September.
It’s limited to a total of 8 participants – working in smaller groups of 2 or 3. If you want to be part of this limited beta group, drop me a comment or shoot me note.
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