The further you want to go on your business journey the more time and effort is required to create a great strategy. The benefit of creating a great strategy is highlighted by sustainable top line revenue growth AND when prospects begin seeking you out rather than you seeking them. Conversely when your top line revenues are flat, declining or not meeting your projections and expectations it is most likely you have a strategy related issue.
Your plan does not need to be a lengthy document or action plan, and in fact the core strategy should be not much more than a single memorable sentence. It should however clearly shout out – why you are doing what you do – how you do it – have a large degree of differentiation from your nearest competitors. Whatever you choose to call it, unique selling proposition (USP), differential advantage, or brand promise, you know you’ve got it when your revenues are growing as rapidly as you want.
It is also important to identify your core values, guiding principles and beliefs so that everyone inside your organisation is aligned and working together towards the common goal of creating a quality brand that your market wants and is willing to pay full price for. This simple alignment reduces the scarce energy and resources typically wasted on activities that will not take you towards your strategic goals and objectives.
If your revenue is not growing as quickly as you would like, then it’s time to re-examine your strategy and you can start by openly and honestly answering these three questions: