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How to find your business strategy right under your nose

December 9, 2014

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Often the best business strategy is, in fact, no strategy at all. In other words, do what you’ve been doing, but do it even better. A good place to start is to make a list of what is working well, and then what is not working. The age-old pros and cons list should not be underestimated – there is a reason it works!

Pros and Cons

How do we fix the problems and focus on the “good” stuff?

A good place to start is the sales system. Spend thirty minutes documenting how your sales are initiated, closed, fulfilled and finally, turned into cash. Next, write down what the direct and indirect costs are in order to make those sales in the end, and make sure to do this for each product or service category. With some reflection you should be able to spot patterns and come up with improvements to your system. This can be done with both small and large issues, and can be led by a couple of people in the management group. Creating a solid business strategy does not require retreats, strategy sessions, consultants or other time-honored business solutions that often don’t work. Instead, all that is required is your knowledge of the industry and a system that accurately captures and reports on your financial results. Start at a very high level, you can drill down the details later. We can help you ensure your business strategy produces accurate information and can provide guidance on how to analyze the results.

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