Boosting your business strategy at key times
Throughout the year, there are times when sales will dip or soar. If your business involves selling ice, for example, you’re unlikely to get much traction in winter.
Less drastic examples are seen in practically every business. Everything from weather to culture and short-term trends can influence how your organisation draws income each month.
A relevant example will be gyms; such businesses will be prepared to see increased membership numbers in January as people take up their New Year’s resolution to get fit.
This will affect your ability to design and deliver a strategic vision, so having a versatile plan will be a boon for any business.
The Economic Voice recently suggested that seasonal sales trends can be used to fuel strategic planning. But how does a modern enterprise do such a thing without falling into a rigid structure that lowers agility?
Have short- and long-term targets –
There’s no doubt it is important to have an annual growth plan, but make sure you have a 3-month schedule too. Leave enough flexibility in your budgets to reallocate funds if you need more supplies or marketing exposure, for example.
Collaborate to find new revenue streams –
Gain as many insights as you can from various sources. Andrew Cravenho, company CEO and writer for Entrepreneur magazine, explained how C-suite executives need to work in unison.
“Many a time, the teams formulating the vision and the company strategies, and the ones creating the budget are separate. However, when it comes to achieving company’s goals, both need to understand that working in tandem is crucial to the successful implementation of the strategy,” he explained last month.
Use the best tools for the job –
Carefully maintaining a strategy can be a difficult task, so make sure you are taking advantage of all the help available.
If you are struggling to disseminate information through different departments and keep a flexible plan in the process, business strategy software can make all the difference.