Do you ever feel like you’re chasing your tail in business needing band-aid solutions and quick fixes to get you out of a hole?
I have seen and continue to see, so many small businesses struggle and fail because they are mistakenly spending time and money on “instant fixes” in their business instead of investing in CREATING A SUCCESSFUL BUSINESS STRATEGY from the outset.
I heard someone the other day say “you can get (business) strategies anywhere”!
I beg to differ … try telling that to the truly inspirational entrepreneurs and business leaders who have built extraordinarily successful businesses with strategies that they have envisioned, created and developed themselves.
Maybe there is a “Strategy Shop” out there that I don’t know about. Maybe that’s where Richard Branson brought a strategy for a successful record store and an airline empire … and Steve Jobs purchased a strategy for the transformation of Apple … and Naomi Simpson picked up a strategy for the creation of Red Balloon!
We all know that’s not the case and that every one of these highly successful and iconic businesses started out with an owner’s passion, belief, and commitment … and an over-riding business strategy.
It’s your business strategy that determines HOW your business will achieve its outcomes, WHAT resources will be required and WHEN those resources will be used. It should be the basis for all your business plans and spending … and the driver of your growth and profitability.
I know from my own experience and many of the SME’s I have been called to work with, that NOT having a business strategy is a recipe for countless wasted hours, thousands of wasted $$’s, unnecessary stress and frustration, poor sales, unrealized profit potential and in the worst cases … business failure.
So before you spend ONE CENT on any program for your business (particularly any that promise quick riches or returns) do yourself a huge favour by making sure you have a SUCCESSFUL BUSINESS STRATEGY that provides the guiding light for everything else you do (or spend money on) in your business.
Another way to think about it is to liken building your business to building your dream home. Would you ever buy a pre-made kitchen, or window frames, or roof tiles … before you had a drawing of what your home is going to look like, a plan with all the right measurements and a construction schedule to know when things can be delivered?
Building the right foundations for your business is definitely worth the effort. It might not be the sexy or fun part of business building but it is critical. Without it you are very likely to end up wasting your precious time, money and energy.