|
|
Like this article? PLEASE +1 it! |  |
|
Entrepreneurs – Your Business Strategy And Some Challenges To Think About
Written by: Lee ListerArticle Overview: This article could depress you, but it is intended to ensure that your new or improving company is ready for all the challenges ahead when you design your new business strategy or review how your business is functioning in this challenging times.
 |
Free Download - What Type of Business Should I Start? By Lee Lister |
Entrepreneurs – Your Business Strategy And Some Challenges To Think About
This article could depress you, but it is intended to ensure that your new or improving company is ready for all the challenges ahead when you design your new business strategy or review how your business is functioning in this challenging times.
A business strategy is essentially how you want your business to behave in its day to day working and how you want it to respond to external pressures. A good business strategy involves decision-making about the company’s production and operations, finance, human resource management and other business issues. Or to put into consultant’s speak. “The objective of a good business strategic plan is to set the direction of your business and create its shape so that the products and services it provides meet your overall business objectives.”
If you are not sure how to write your business strategy then at the top of a piece of paper or Word document, put where your business is at the moment and at the bottom, put where you want it to be. Then in between list all the things you need to do to get from now to get to where you want to be.
Here are a few business problems that you will probably meet and need to plan for:
• The correct mixture of goods and services to meet perceived customer demands.
• Developing new products and services.
• Cash flow and finding the appropriate financing.
• Maintaining current markets whilst developing new markets.
• Retaining your key staff and skill bases as well as finding new qualified workers.
• Improving the skills of your existing staff.
• Managing staffing costs.
• Increasing productivity whilst containing costs.
• Increasing the efficiency of customer handling, procurement and fulfillment.
• Upgrading current technology and business structures, including offices, machinery, computers etc.
• Managing risk as well as spotting it before it becomes a problem.
• Managing your business within an unstable economy.
• Maintaining profit levels against rising costs.
• Responding to new legislations.
• Preparing your company for expansion, spin off or sale.
Once you have your list of things, you will have a clearer idea of how you want to manage your company and steer it to the future you have now planned for. Good luck!
The 5 Practices of Wildly Successful Entrepreneurs by Ed Abel
How to Succeed in Business, Without Setting Your Hair On Fire
Business coaches aren’t for everyone
Are you paying people to update their Facebook profile?
Can you describe the strategy for your business growth in 6 words?
|
About the Author: Lee Lister RSS for Lee's articles - Visit Lee's website  From an early age she began an unparalleled journey through business consulting that continues to span across the UK, USA, Europe and Asia. She has consulted for a considerable number of companies all over the world. Specialising in business change management, start up consultancy and trouble shooting. Lee's experience in marketing and internet marketing is also keenly sought after. She is a prolific published writer of books, ebooks and articles and can easily be found on major search engine and Amazon. Her books include: FastTrack Bid Management, Proposal Writing For Smaller Businesses, How Much Does It Cost To Start A Business, Entrepreneur's Apprentice and a series of Start My New Business books that do as they say in the title! Her major web sites are: Click here to visit Lee's website   Entrepreneurs How Not To Make Those Beginners Mistakes That Make Businesses Fail Entrepreneurs Remember Your Customers So That They Dont Forget You Hard Working Entrepreneurs Do You Procrastinate Want To Find Some Extra Time Pitching to Win and Winning that Pitch Entrepreneurs How To Grow Your Taxi Business |
Related Forum Posts
Introducing a Learner
- Hi everybody,
It is really my pleasure being around so many Entrepreneurs and strategic minds. Strategy is something I always loved and eager over every new move. Being a newbie I would need your support and I hope I would get that.
Thanks
Stephen
Book: Secrets of Six Figure Women
- Secrets of Six Figure Women: Surprising Strategies to up your earning and change your life
Barbara Stanny, 2002
Jacket:
Maybe you've noticed - a subtle trend is gathering steam. Quietly and steadily, the number of women making six figures or more is increasing, and it continues to rise at a rate faster than for men. From entrepreneurs to corporate executives, from white collar executives to free lancers and part timers, women are forging careers with considerable financial success.
Through extensive research and hundreds of interviews, including dialogs with more than 150 high earners whose annual incomes range from $100,000 to 7 million, Stanny discovered that ...they all had certain traits in common:
1) a profit motive
2) Audacity
3) REslience
4) Encouragement
5) Self-awareness
6) Non-attachment
7) Financial knowhow
She amplifies on these in the book itself.
Table of Contents
Intro: Welcome to the era of the six-figure woman
1. The Queen in the Countinghouse
2. The Lowdown on low earners
3. Raising the bar
4. Strategy 1: The Declaration of Intention
5. Strategy 2: Letting go of the ledge
6. Strategy 3: Get in the Game
7. Strategy 4: Speak Up
8. Strategy 5: The Stretch
9. Strategy 6: Seek Support
10. Strategy 7: Obey the rules of money
11. Claiming our power
Appendces:
Resources and websites
Tips for getting out of dent
Investing Basics: Wealthbuilding 101
My entry
- 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read
- this is a fascinating book about the history of Business theory, and I'd recommend it to anybody.
2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto.
3. PADI: The Business of Diving Book
Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
Elevator Pitch in 10 Words
- "Winning Business Design For Aspiring Entrepreneurs Based On Their Idea"
A ton of Great Women
- You might want to profile Teresa Cascioli of LakePort Brewery. She has an amazing story! I met her at at the celebratory luncheon for the Profit/Chatelaine Top 100 Women Business Owners. The Top 100 list is also a great resource for inspirational stories of Women Entrepreneurs.
Share this article with your friends. Fund someone's dream.
Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
by: 
Lesson #3: “Tell ‘em quick and tell ‘em often”
Searching for the Stars: How Yang and Filo Took Their Business to New Heights
Salesperson Wimp-Out: I Need Help 
February 2012 Top 100 Leadership Experts to Follow on Twitter
Please Stop Calling it Coaching!
Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
How do I finance a franchise?
Build Corporate Credit for Your Small Business
Winning Market Share in a Tough Economy
Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.