Ask Your Business Question to Sherese DuncanQuestion:  Sherese, why do I NEED a strategy?

I’ve seen this everywhere but still not clear why I need it?

**Have a business question?  Submit your question.

Sherese:  Raymond, I’m soooo glad you asked this question!  This is something we teach all our clients big and small – why and how to implement strategy.

There are a lot of companies who are functioning without a strategy; although, there will come a time when you must move forward in a direction that may be new, different, difficult – you just never know.  This is where strategy can play a key role in your direction and decisions.

The strategic planning process determines where an organization is going over a period of time, how it is going to get there and how it will know if it got there or not.  Strategy is truly about developing long-term targets, hitting short-term targets (vision) while also managing day-to-day activities.

In today’s competitive business environment, strategy is more than just a catch phrase.  It’s a necessary tool that will help you identify your niche in the marketplace and set your company apart from the competition.  However, many entrepreneurs fail to consider the importance of taking their overriding strategy and turning it into something tangible.

Why You Need a Strategy…So your business stays on course and avoids obstacles that do not get you closer to the established long-term targets.  Having strategy is crucial to sustaining a successful business enterprise. Strategy is defining where you want to go with your company and how you plan to get there.  Your strategy is what enables you to ensure that your day-to-day tasks and decisions compliment your long-term business vision while ultimately meeting your customers’ needs.

The best way to implement a strategy is to generate a strategic blueprint – a document that clearly defines the goals you have for each area of your business and maps out executable steps to reach them.

I hope this helps you begin to understand the why.  The next step is to actually engage in strategic planning in order to determine how you will integrate strategy into your overall business.

To test if you’re truly being strategic, ask yourself this question:  “When you get to where you’re going, where will you be?”  If you’re not sure of the answer, this is why you need strategy now!

Wishing you success and prosperity!

Your Transmogrifyer,

Sherese Duncan

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