Many executives in small businesses flinch at the mention of the word “strategy.” It’s for large businesses. It’s complicated. It’s expensive. It’s time-consuming. It’s tough to understand.
To all of this I say, “Nonsense.”
Even if You Have a Small Business, Strategy is Essential
Strategy is as relevant, important and accessible to you as it is to a large business. In fact, strategy is even more important to you because the consequences of mistakes are often more profound.
As a small business, you can likely define your strategy in a matter of hours. It is, after all, simply understanding what your unique advantage is and what you want to achieve in the next few years. Spend a Saturday morning with a coffee and my blog on short strategy statements and think about why your customers love you.
Likewise, you can prepare a simple strategic plan without enormous effort. Try this: take a few hours and discuss your strategy with your staff. Ask them, “What do we have to do to make this happen?” This will likely give you enough to create the outline of your strategic plan.
Use the seven points in my recent strategic plan blog to guide your discussions and create your outline. Even if you stop now, you’ve done more than most businesses ever do – including the big ones. And you’ll find yourself referring to your document over and over in the coming months.
Building a Strategy Will Help Your Bottom Line
Whatever time you spend developing your strategy and strategic plan will be repaid many, many times over.
Want a hand? Send your short strategy statement to me and I’ll be happy to critique it for you. Free of charge and completely confidentially.
Have I convinced you? Do you believe that strategy is accessible to your small business?
Alex Glassey creates simple, integrated business frameworks for business owners and entrepreneurs. Test out his latest product F2F.live. Speak Face to Face with up to 1M people in livestreams, webinars, classrooms, meetings, and more!