How to Develop a Bigger and Better Business Strategy

Are you considering taking your business bigger? The financial rewards can be massive. Your life will change overnight. If you are, have you considered the repercussions on your health, social life and personal relationships?

For those who can cope have had a life of total luxury. The key is to have a solid plan that is difficult for you to deviate from. There are a number of elements to include in your plan.

Have you ever imagined what it would be like to enjoy a business that returns you enough money to allow you to live on room service for the rest of your life?

Check what you are now doing

Which position does your business fit into when considering your competitors? The areas to consider are:

• Product

• Price

• Customer support

• Costs

• Market share

Other points to consider are how do you compare against your closest rival? Which businesses excel in your line of work? Once you have found that out work out what makes them different so you can be better.

Create the plan

Always focus your efforts to deliver great products and even better service. Questions you can ask yourself are:

• Do you measure quality and reliability of products?

• Is the performance of your business measured?

• Is customer satisfaction measured?

• Is your staff multi-skilled?

• Do you communicate well?

Establish time frames and actions to be carried out and by whom. Document and monitor to ensure it is completed.

Set your targets
When you are setting your time frames and targets make sure they are big, exciting and totally unreasonable without being over the top. Do it for one, two and three years out. If you are satisfied you won’t have the drive to send yourself to the next level. If targets are too small, you will not generate excitement and urgency.

Do’s and don’ts

To progress you will need to develop in certain areas. Here are some do’s and don’ts:

Do

• Set bigger and better challenges

• Accept change as a stepping stone to better things

• Strive to improve everything

• Watch your competitors

• Measure everything

Don’t

• Don’t be satisfied with your situation

• Don’t ignore red flags as warning signs

TIP: Life is too short to be little – Disraeli

Conclusion

If you’re going to be successful you will have to be able to evaluate the proposed changes that will be made before they are implemented. Here is a short test in question form to evaluate if you are ready to accept the proposals to be made.

• Are you already doing it?

• Has it been tried unsuccessfully in the past?

• Could it work?

• Is it practical?

• Is it ethical?

• Is it based on empire building and self interest?

• Is it based on untested theory or speculation?

• Will it solve the problems?

• Are the risks acceptable?

• Is it cost effective?

• Is it within budgets?

Answers to these questions will indicate that you are ready now or you will require more time to educate yourself for the tasks at hand.

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