The need for a business strategy.
First things first. Before we say why writing out a business strategy is necessary, we need to know what a strategy exactly is. A business strategy is all in 1, it is your view of the future, your foundation for success and your tools to work with on a daily basis.
A strategy goes far beyond a theoretical definition of who we are, what we do and who our competitors are. It is an elaboration of our vision (our concrete dream of the future) and mission (what we stand for), the determination of our added value (value proposition - what differentiates us from others), customer analysis, competitor analysis and above all, our Go-To-Market, the actual handles.
What is the importance of a business strategy?
Doing business without a strategy is like sailing without a compass or driving with your eyes closed and hoping everything will work out. A strategy makes us think about the future and the actions needed to achieve these "dreams" and goals. A good strategy defines the direction we take, but is equally flexible and adaptable to the situation in the market. Now, as an organisation, we need to be agile & cross-functional to adapt in the ever-changing world. So it is important to always be up to date on the trends within the market. Read more about this year's "trends to watch" here.
By the way, it is not only important to have a strategy, but also to write it out. We often hear "Yes, but I have a whole strategy in my head." That's not how it works. Writing out a business strategy helps you to be able to visualise the process. You can go back and consult the document again and again without having to go back and think about whatever you had thought of a few months ago.
When is the best time to draw up a business strategy?
It is never too late to start with a strategy, a clear plan of action. Strategies can also be adapted and updated over the years. It's not static, just because we've always done it this way doesn't mean it will work this way today or be applicable tomorrow. Pitch Perfect is a perfect example of this.
A strategy is constantly evolving, is the "trigger" of the organisation and follows the market, the possibilities and opportunities, but also the pitfalls & weaknesses that can be worked on.
The most important aspect of a strategy.
A Go-To-Market worked out in detail. Without this component, while you answer several open-ended questions about your organisation, the market and the competition during a strategy formulation, you do not tell yourself how you will deal with this in the future or how you will adapt to this to evolve with it.
How can we help you with a tailor-made strategy?
At Pitch Perfect, we've called it "The Essential 10". Quite simply, 10 essential steps for a Perfect Pitch. 10 key points to hold on to and guide you into the future.
Like a sales pitch, a sales strategy is about gaining insight into your interviewer and actually working with this to write a great story together. That's exactly what we do at Pitch Perfect to assist you with strategising.
- We listen
- We look for the challenges and pitfalls
- We come up with manageable handles
- We offer a solution for future growth.
Robert Half put it very well: "Perseverance is what makes the impossible possible, the possible probable and the probable definite."
No strategy, no future!
Don't know how to start? We will help you!