I often refer to a strategy as an umbrella over a business. As you launch into 2016, do you have a strategy that is truly protecting and nurturing the best interests of your company? I am so adamant about the need for business owners to truly understand the powerful impact a strategy can have on a business, that strategy and business planning have been the subject of my last three columns. Your strategy should be the foundation from which you ensure sustainability and continued growth, as well...
Part II of II - I find many business owners confuse a strategy with a plan, and they are not the same. A plan focuses on action and tactical activities. A strategy focuses on vision, purpose, differentiation, advantage, goals, objectives and desired outcomes.It then includes the necessary plans to accomplish these outcomes.Too many businesses do not have the necessary strategy behind their plans. The end result is either a plan that never gets implemented, is marginally successful or totally...
As mentioned in last month’s column, change is the new norm in today’s economy. Change viewed from an opportunities and investigative perspective can help you anticipate and effectively respond to inevitable changes versus being forced to react to them. Too often, business owners are surprised by shifts or unexpected outcomes because they were operating at a surface level of knowing what was really happening in their business. Here are five areas you should keep a pulse on so you are...