Simple Small Business Strategy

When planning for the future of your business it is very easy to think through extremely abstract long-term goals. This type of strategic planning falls short because there is no way for you to predict the future. A good small business strategy must be very action-oriented and it must be focused on helping you better serve your customer. It must be very specific to you. You can’t just take an apply some random ratio analysis to your business and expect to overcome your current issues. Your strategy has to be as unique as the roadblocks you encounter.

This may seem overwhelming but it is actually much simpler than all the complicated strategies you read about in MBA textbooks. The best small business strategy gives you the ability to quickly respond when you are hit with change. It allows you to identify the root of the problem, evaluate options to overcome this problem, and then come up with a plan.

When creating this system, you can easily fall on either side of extremes. On one extreme you can be too rigid in your plan by focusing on a destination that you can’t see and thus have no way to plan for. On the other extreme, you can just not plan at all because you are too overwhelmed. The best type of plan accounts for both extremes and will allow you to navigate an uncertain future.

The framework is actually fairly simple to understand and goes through the following process:

  1. Identify the current limit to your growth .
  2. Decide on what activity will multiply your effort in overcoming this limit.
  3. Create an intention plan.

Do you have some limit right now that is hindering growth? Follow these steps and let me know how it goes.

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