Many small businesses struggle to find enough time to manage day-to-day requirements of running a business - and your customers deliver value probably is why you created primarily companies, so it should be a top priority.
But not survive many small businesses more than five years because of insufficient cash flow and customer demand. Often your markets are unpredictable, the economy changes and your competitors to innovate and fight for your market share.
to stay at the top, you need a solid strategy. Good business strategy is superior to the provision, hard to replicate customer benefits. It's about the future influence, not to respond. You can not spend much time on strategic business spending right now thinking, because it distracts from the day-to-day, but it may be exactly what you need to keep your business healthy in the long term.
Furthermore, strategic thinking is not trivial and rarely offers immediate rewards. It forces you to go beyond your comfort zone and to make decisions about your long-term competitiveness. As an entrepreneur, you have the ability to move quickly and change course, but your strategy will probably recognize weaknesses of limited resources and less developed branding.
Fortunately there are many tools, run to help your strategic business planning.
1. PESTLE
your business does not operate in isolation. In this analysis, write down on a sheet of paper 6 headings: P olitical E conomic, S ocial T echnical L matter and e nvironmental
Under each category, all of the factors listed that influence -. have or have the potential to affect - your business. For example, a "political" factor with implications for your business are a new funding policy for your customers in connection. An example of a "technical" factor would be the emergence of a new technology that reduces your operating costs.
to use this tool to develop help your business strategy, your starting point should be a handful, the selection and prioritization factors according to their current or future effect on your business, along with your ability to respond to them.
2. Why Analysis
All companies have problems. The most successful recognize the causes, and to prioritize the solutions strategically. You can use this approach to solve your, and some of your customers problems.
"Why Analysis" takes a single problem and identifying the causes. You can determine all the answers up to five times by analyzing generated question core issues. Then you can prioritize the key issues to impact and remedies. This simple example shows the argument:
- Problem: Slowing sales
- Why slow sales? by a lack of quality sales personnel.
- Why lacks the quality of sales staff? Due to insufficient training.
- Why not sufficient in training? Since the sales manager is overloaded.
- Why is the sales manager overworked? Because there are too many customers outstanding issues.
- Why are there open too many questions? Since there is no after-sales process.
In reality, there are several problems and causes to be. a few important causes solution will have major strategic implications.
3. Strategy Canvas
The strategy canvas asks the most important factors in your current product or service offerings to identify that create customer benefits. For example, a plumbing company include price, time to react, residential service and environmental technology as factors. For each factor rate your product or service from 0 to 10. Now use the same for the main competitors or substitutes (like DIY) and the same factors.
your customer value strategy is to define a new strategy on how to change and your offers. The process of reducing or by eliminating some of the factors to reduce the cost. You can improve a number of factors and add new create better customer value. The strategy canvas requires a lot of thinking, collaboration and research, but the results, you can add your business apart really set.
to consider other tools to
The former are only a selection of strategy tools you can use in your business. You can as SWOT analysis, Porter's 5 Forces, the business case, the search Osterwalder business model canvas, the GE business screen and the Balanced Scorecard to other tools.
Turning Analysis in Action
Good strategy describes what you will do, and when and how did you do it now, along with the expected costs, efforts and rewards. As a business with limited resources, you have your strategy recognize your ability to implement and adapt with your values.
By setting each month a few hours of strategic planning time aside, you can be the best investment that you have made in your business.
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