Simply put, a company strategy is a long-term perspective that determines how a business will get from its current position, to where it ultimately desires to be.
If I wanted to travel across the country from Indianapolis all the way to Los Angeles, I have all sorts of options for how I could get there. But if I wanted to be there by tomorrow, it wouldn’t do me much good to copy one of those Bike Across America guys that you may have sees on TV. Of course, I would certainly need to jump a flight.
And the same is true for small businesses. There are many companies that take strategy for granted, and therefore just do what they see other businesses in their industry doing.
But unfortunately, the problem is that small businesses in this economy are under so much pressure. And there are generally just a few in every industry that are really getting ahead. So then, it’s up to the small business owner himself to come up with a strategy that will put him in the pack with the leaders.
And while it may seem like daunting task to develop a written strategy, the truth is that is doesn’t need to be very long. In fact, every business should be able to describe it’s company strategy in one page or less. And in some cases, even just a sentence.
For example, for my firm, I have summed up our strategy in the slogan that I’ve placed on my website, “Delivering Value, Planning For Success.”
Because in a nutshell, I’m all about focusing on the most valuable services that add to my clients’ bottom-line to save them time and money. And to accomplish this, I have developed a mix of monthly service plans for those who are in need of this type of value.
And also, from this perspective, I’ve not only been able to develop profitable, operational plans that allow my business to grow, but I also use this insight to help other entrepreneurs to implement the same profitable plans and office systems within their business.
Being consistent in following this strategy overtime – I cannot only save my clients a huge amount of money from tax planning – but I can now honestly say that I have unique value that I bring to any business relationship that no other firm in my market can offer.
But in any case, that’s the idea behind a company strategy.
It serves as a jump off to a business’s annual planning sessions and carry’s forward from year-to-year, allowing a business to continue to build upon previous accomplishments.
This is not to say that it won’t change overtime, but the consistency of a good strategy is what gives the business direction.