Is your strategy driving sustainable growth in revenue and gross margins?
Strategy simply put is having the ability to generate top line sales consistently over a longer period of time. Of course your competition is also trying to do the same thing, to paraphrase the great Prussian General Carl von Clausewitz, strategy is only as good as your next encounter with the enemy (or decision of your competitor). Therefore, it’s critical that the senior leadership team work on our strategy each week to figure out your next moves.
If you have a sound strategy in place you shouldn’t see the following signs:
- Always wondering where will the revenue come from next week or next month?
- Can’t see into the future and have no idea where the company is going or what it will look like?
- Always reacting to what the competition is doing and never feel as if we are gaining on them.
- Tried numerous ways of generating revenue but most of them have failed.
If the business has no clear sense of purpose and does not have a longer term plan or a Big Hairy Audacious Goal (BHAG) to work towards, it is hard for all the stakeholders to engage with the business and almost impossible for it to stand apart from the competition. With the right people on board you can collectively figure out where to take the company and how to step ahead of the competition along the way.
1 Gain Focus
One of the first things we will do is truly define the purpose of your business and your core values. This is creates an important framework that wraps around your strategy and is the groundwork for ensuring that the work we do in Steps 2 and 3 accurately represents you and the type of business you want to run. Once these fundamentals are defined, we’ll make them known to your team and even your suppliers so that everyone is working towards helping your business realise it’s strategy.
2 Develop Behaviors
After developing some clarity around your strategic thinking in Step 1, we will develop habits with the executive team in your business that allows them to continually and consistently “check in” with the strategy and refine their thinking around this. These behaviors will allow the executive team to make the changes necessary based on market feedback, technology trends, economic trends, etc all of which will keep your strategy current and effective.
3 Reap the Rewards
This is where your persistence from Step 2 pays off. With your strategy in place, you will be better able to identify opportunities as they arise and will be able to act upon them quickly. You will also have the tools you need to successfully launch new ventures within your business and keep your competition on the back foot and more importantly have your turnover grow year upon year.