4 Reasons Why You Need a Business Strategy

One of the biggest mistakes business owners make is starting off without a comprehensive strategy for their business. It’s too bad because business owners really do need a solid strategy to let them know when they’re headed in the right direction, and when they’re straying off course. Unfortunately, the old saying really is true that if you fail to plan, you plan to fail.
If you’re still not sure you need a strategy to guide your business decisions, let’s go over four of the big reasons why you should reconsider.​

Define Goals and Priorities

Before you can draw a roadmap that will get you to your goal, you first have to define where that goal is. Having a goal in mind also makes it easier to prioritize your tasks.
​
As small business owners, we often have to do everything for our businesses, but at the same time, there’s only so much one person can do. We can’t go to all the networking events or be on all the social media platforms, but a business strategy can help us identify the networking events and the social media platforms where our target audience is most likely to be spending time. It enables us to focus on what matters and ignore the rest, which is key to growing our business.

Better Communicate Your Message

​Getting in front of your target audience is only half the battle. Once there, you need to be able to convince them to buy your products/services, and having a business strategy in place makes it much easier to both create and communicate your message. A key component of any business strategy is identifying your target audience and the pain points you’re solving for them, and only once you’ve done that can you craft a message that resonates with your audience and communicates it to them in a way that engages them and convinces them to take the next step in the buyer journey.

Recruit Better People

Whether you have a team of people helping you, or you’re going it alone, eventually you’ll need to bring new people onto your team, and when you have a clear goal in mind, and a clear message to communicate that goal, you can better identify, not only the people you want to hire you, but the people you want to hire. Having that goal and the clearly defined message around that goal also make it easier to communicate to your 

team what you want from them, which makes for a team that works better and helps you to reach your goals, rather than holding you back by making you put out fires they created because they didn’t understand the overall direction of the company.

 Helping You Grow

When you’re first starting out, it’s often tempting to take any and all work that comes your way, regardless of whether it fits into your larger goal of what you ultimately want for your business. While you might be telling yourself you can’t afford to turn down a potential client, the fact is a prospect who doesn’t fit the definition of your ideal client can end up holding you back from connecting with clients who could end up being much more valuable for your business in the long run, so are you really doing yourself any favors by taking on work that will ultimately hold you back from growing your business?

If you’ve been putting off creating a strategy for your business because you’re not sure how to go about creating one, schedule a call to see how a Strategy Rockstar can help you create a business strategy that allows you to grow your business faster.