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Sophie Gold

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What's Your Strategy? The Devil Is in the Details

Posted: 02/ 7/2012 11:03 am

Over the last couple of days I have been receiving emails asking how to put together a winning strategy for 2012.

To be honest, it's a loaded question. The simple answer is that a business should have an overall strategy and then what I like to call micro-strategies for each part of the business. If you just think big you may fail to get off the starting block because you may feel overwhelmed. And if you just think about the day to day you may end up going around in circles.

Most businesses offer a handful of different products and services that fall under one overarching theme.

For example I offer: mindset coaching, brainstorming, revenue model strategy, sales strategy, event strategy, event planning, business management, leverage strategy -- the list does go on. However the overarching theme of my company Wealthy Women Inc. is money -- how to get it, keep it, and how to make it work for you. The overarching theme will have a strategy which will detail how the company works, why it works, who we serve etc. but then each type of product will have its own strategy and then each product or service will have its own strategy.

Here are some of the strategies that I have for Wealthy Women Inc.

1. A strategy for the overall direction of the company
2. A strategy for the for each ''type'' of product/service I am offering. I have a strategy for my digital training, face-to-face strategy sessions, event planning etc.
3. A strategy for each product or service
4. I have a power team strategy

There is a difference between an action plan and a strategy. In my experience an action plan is too general, whereas a strategy details every move.

The benefits of a strategy are:

1. Increased productivity
2. Increased revenue
3. You will work smart vs. working hard
4. Your team will be focused
5. You will be able to quickly spot what isn't working within your organization and how to fix it

Each strategy has a lifespan of 12 months, because within 12 months your company can evolve and your strategy will need to be altered.

The book that transformed how I think about planning was Sun Tzu Art of War.

The question is: what is your strategy? Is it just a plan written on your computer, notepad? Are you working based on a loose set of ideas?

You may feel that sitting down to map out a strategy is time consuming but after you have mapped it out and seen the results you'll realize that it was well worth it.

 

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