Time to examine your Business Strategy

Posted on Mar 9, 2012 | 0 comments

Read a great article from Verne Harnish the other day – very relevant in today’s climate! Here’s an excerpt:

Strategy challenges are indicated by a slowing in top line revenue growth. If revenue is not growing as quickly as you like, then it’s time to re-examine your strategy i.e. what you’re selling to whom. It’s important to have a concise articulation of that strategy so you can get everyone aligned and on the same page without wasting sales or operational energies on activities not useful to the business.

Jim Collins, author of “Good to Great”, calls this precisely articulated strategy a company’s “hedgehog.” Alan Rudy, founder of growth company incubator Into Great, calls it the “ping” of the business. Others call it a unique selling proposition (USP), differential advantage, or brand promise.
Whatever you choose to call it, you know you’ve nailed it if revenues are growing as rapidly as you want.

Turbulent economic times tend to expose weak strategies which are why we’re seeing many companies re-examining their business models.

If you’d like an independent appraisal of your business model contact our in house Business Strategist, Paul Blahut for a free consultation. Contact paul@jwa.com.au or 0414 641 777.

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