What is Business Strategy?

One of the critical components of a business coach’s work is to help you with business strategy services. In other words, for a business coach to be able to help you, they will take the time to understand the workings of your business on the front line.

Together, you will work on developing a simple programme that will include the strategic plan for your organisation. These business strategy services will consist of business goals, 90-day plans or Rocks, benchmarks, measurables or KPIs, and a complete marketing plan or marketing strategy.

How Do Business Strategy Services Work?

For a business coach to help you develop a business strategy, there will be several steps to be followed together, including the following:

  • Firstly, understanding what is meant by strategic business planning and marketing planning. NOTE: These do not need to be complicated because often simpler is better or as I like to say, either “Less is more” or using the Dieter Rams saying, “Weniger, aber besser”, which means less but better.
  • Knowing what the business offers, plans to offer, wants to achieve, and how it will be done is all vital information in the putting together a strategic plan.
  • So you will need to answer questions like, what does the business do and for whom?  And what are you good at or do better than your competitors or what can you be the best in the world at?

When Do You Need Business Strategy Services?

There are some crucial moments in the lifecycle of a business when you will need to employ business strategy services:

  • On startup, before launching the business
  • When there are significant changes in your industry, organisation or community
  • When you are deciding on new products, services or processes
  • When there are people issues, such as discord amongst the leaders or team members in the business in terms of common direction, a strategic plan developed together solidifies buy-in from everyone.
  • When the business is floating along with no clear direction for its future growth.

How Can You Use Your Strategic Business Plan?

There are obvious uses for your well-developed strategic business plan, like using it to apply for financing a new product, project or development in your organisation. But the key to great business success is to keep your plan in the forefront all the time, not just taken out and dusted off in times of difficulty. It should be your trusty side-kick every day on your ongoing quest to be the best you can be.

When we work with clients using EOS®, we develop a simple 2-page strategic plan that enables you to keep your priorities top of mind. This 2 page plan, called a V/TO (Vision / Traction Organiser) helps you to answer 8 key questions for your business & create a simple & effective plan that not only outlines your Vision for the business but also how you wil bring that down to the ground with traction. This is a great tool for getting everyone in the organistaion 100% on the same page in terms of your Vision & how their werk contributes to achieving that Vision.

To learn more about how a business coach can get you set up with business strategy services, or implement EOS ® then contact the team at Business Action today for your first free, no-obligation consultation. Let us show you what we can help you to do for your business.

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