Business Strategy: Don’t be afraid, here’s what you need to know!

Business strategy is simply a plan, ok, a long-term plan.

It helps a business get from A to B, it does this by reviewing a business’s current position (point A), figuring out where it wants to be (point B) and then making a plan on how to get there.

It reviews your business’s strengths & weaknesses, sets out the business vision and most importantly makes a detailed plan of how you will achieve it all.

I will be laying out why you don’t need to be afraid of ‘business strategy’, why your business needs one and how helpful it can be, and finally how you can start to make steps towards creating a strategy.

Please remember, should you wish to chat more about what strategy is, feel free to message me at hello@fruitionforbusiness.co.uk or book a discovery call with me.

Don’t be afraid of the term ‘Business Strategy’

I know the word strategy can seem daunting, there’s something about the word that feels huge. I guess in a way it is, we are talking about long-term planning here but it’s not something you need to do alone and it’s not something that needs to overwhelm you or add more stress to your life. In fact, it will do the opposite!

“When you have a business strategy it gives you so much clarity on what you are working towards and paves the way for the future of your business. ”

Business strategy is one of the most important parts of running your small business. It is the long-term plan for your business’s growth and success. A business strategy acts as the blueprint for your business, defining what it will look like and how you plan to get there. While some people know what business strategy is, very few people know when to use it, or why it’s so important when running our business.

When & why do I need a business strategy?

Probably from now! It doesn’t matter what type of business you run, product or service based, hobby/passion business or you’ve been running your business for years. A business strategy doesn’t need to be complicated. By having a vision and setting some clear goals you can put a really simple strategy into play.

You may be surprised to hear but you probably already have a strategy in place – it’s probably just in your head. You may already know where you want to take your business but having a clear action plan from this is what will take you & your business to the next level. Having a business strategy not only gives you clarity on what you are working towards but it gives you a sense of direction. It allows you to work on ideas, new products & services and even grow should you wish to. It can help you save time and avoid overwhelm as without a clear understanding of your business’s strategy, it can be difficult to know where to focus your time and resources.  

However, if you feel you are completely lacking direction or a strategy but want to grow your business or get clarity on what you are working towards then I would love for us to catch up you can email me at rachel@fruitionforbusiness.co.uk.

What does it take to form a business strategy?

Firstly, your business strategy should reflect the vision of your business. Whether this is you want to have a supportive & consistent income or you want to build an empire. Think about where you want to go? What does 10 years’ time look like to you?

Once you’ve figure out where you want to go then you can start to create some clear goals. Try creating some SMART goals to get you started. You can see what SMART goals are here in one of my posts.

When you have set yourself some goals you can then map out the steps you will take to achieve them. Start writing out detailed actions and make sure you put some deadlines/timelines against them. That way you can start making your final strategic action plan.

It’s a very whistle-stop tour but it gives you an overview of how to create a simple strategy. As I said a business strategy doesn’t need to be complicated. It can be as simple or as in-depth as you like. As long as it’s a plan and helps you reach where you want to go.

Businesses that have strategic plans are more likely to succeed, thrive and run a more sustainable business. Just remember that a business strategy isn't set in stone, and as your company grows, so may your need for one!

If you're struggling to get started on your business strategy or have given it a go but need some further advice and support, then why not book a discover call today and see how together we can get started on unlocking your business success!