Two-Step Strategy For Your Business

Do you ever feel like you’re on the hamster wheel in your business, running faster and faster, getting busier and busier, but you’re still not moving anywhere?

I will teach you how to create a strategy for your business using a simple two-step framework. This framework will give you direction and help you move your business from A to B with less time and stress.

So what is a strategy? A strategy is a clear framework that helps guide the actions of your business to help achieve its goals. Think of it like a compass or Google Maps that enables you to navigate.

You may eventually get from A to B without a clear strategy, but there’s a good chance you’ve taken the long rocky road.

Creating a strategy is for more than just a big business. Anyone can do it by following the simple two-step process.

Step one of the framework is where to play.

What markets do you want to compete in? Just as importantly, what markets do you want to avoid?

A great start is by writing down the customers you want to serve and ranking them in order.

Who are they?

Where are they?

How big are they?

What do they value?

Are they local?

Are they national?

Are they global?

Are you selling B to B?

Are you selling B to C?

Purely online?

Next, write down the products and services you’ll provide to your customers and start ranking them based on value.

Which ones are the most profitable?

Which ones are the most scalable?

Which ones are unique to your business?

Which ones do you enjoy?

Step two of the framework is how to win.

What are your competitive advantages?

What makes you unique, and why do the customers value it?

Write down your unique strengths and test each to see if the customers value it. If they don’t appreciate it, it’s not a strength or a competitive advantage.

The harder and more complex your strength or competitive advantage is to imitate, the better it will be.

If you need help with this step to try to work out your competitive advantages, compare yourself to some of the competitors in your industry.

Look at what they do well. Then, look at what you do well. You’ll likely find some gaps where you do things better than they do.

Most businesses fall into one of three categories.

The first category of competitive advantage is scale.

Types of businesses worldwide, such as Bunnings, big supermarkets, or Walmart, win on price.

They provide options, and they are convenient.

The second category of competitive advantage is speed.

Tesla and Apple win on design, execution, and innovation. They are the market leaders in their chosen fields.

The third category of competitive advantage is scope.

Most service-based businesses and most small and medium businesses go on knowing the customer well, providing a really good customer experience, customer intimacy, and tailored solutions.

If you follow these simple steps, you should have a basic strategy that will give you some direction and help move you from A to B with less time and stress.

So if you’d like help with some strategy to give you direction in your business, if you would like assistance or want further information, click here to book a call https://impalatax.com.au/discovery/

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