What is your Business Strategy?
Good day gang, Mostafa here. hope all is well.
Today I’m making my video from Starbucks where I’m sitting here and waiting for my next meeting, I thought I just get my next video out.
It is nice and, you know, snowing outside and it was actually above zero yesterday.
So Calgary is, you know, nice like that one day plus 15 next day it’s minus 15.
Anyway, so I want to talk about strategy today.
And the question is,
- What is your business strategy?
- Do you have a marketing strategy?
The answer for 98% of businesses is no, we don’t have a strategy. And here’s a couple of points on that. I was reading an article from Jim Collins, the author of Good to Great and in there he had a very valid and interesting point. He said operational efficiency is not a strategy.
So in other words, if you say all you know we do a really good job.
That is not a strategy!
Or if you tell people Oh, we’re really we’re worked really hard at serving you and making sure that we give you great treatments and whatnot. That is not a strategy.
So I guess strategy is a little deeper than that. And you actually have to have a strategy and here are a few questions about strategy and how to put it together.
- What do you want to be known for in your market?
- Do you have a target market?
Who is your target market? Are you trying to serve anybody and everybody or do you serve a specific target market and you want to establish yourself in that market? Now?
- How do to differentiate yourself? What do you do that is different?
Most businesses When you ask them, what do you do that is different? They do not have an answer for that. You must have an answer for that, to make that part of your strategy.
So those are a few questions that we should have an answer for when it comes to strategy. For example, what is our goal for the next next year? What are we trying to do to reach?
Having a plan is part of your strategy. Right?
Those are the questions that we answer in our quarterly planning workshop, which is coming up.
We spend a full day with serious business owners and committed entrepreneurs, to work on our business, build a plan, work on the strategy. We go through example after example and set what we’re going to do, set how we’re different, who is exactly our target market.
How do we establish ourselves as the authority and the go to expert in my market so that people will come to me or to my company and ask for the type of service or products that we offer?
So spend a full day set out and create the action plan, set the strategy, work on sales and marketing with a group of entrepreneurs and business owners, mastermind with the group, and all the goodies that come along with that.
I’m going to leave a comment below the video if you wanted to check it out. Check out the dates and the details. This is something that you do not want to miss. And one of the good things about the workshop that it gives you and your team a lot of confidence and self-esteem in running your business.
And I’m going to talk about the entrepreneurial roller coaster, maybe on my next post, and we’ll take it from there.
Hope you liked the video/post
If you know any business owners that need to work on their strategy and they don’t really have a clear strategy, then, they should check out our workshop and or talk to me.
If you liked the video/post, please hit LIKE
If you know someone that could benefit from it, please share it with them.
And if you have any questions, comments about the video, please leave a comment below.
And we’ll go from there.
Have a great day and we’ll see you later.