Growing a business takes a lot of work. That goes without saying. You also need tactics that work, whether you rely on inbound marketing, paid advertising, social selling or outbound prospecting. But hard work and great tactics is not enough. You need to think strategically about your growth. Without strategy, you'll be trying one tactic after another, hoping that one of them will work. Some things will work, some won't, but without strategic planning and analysis, you won't know why.
In a world full of distractions, making time for strategy work is hard, I get it. You've got emails to return, the phone is ringing, and your to-do list is growing each day. But not making time away from working "in" your business to work "on" it is a huge mistake that will cost you dearly.
What do I mean by working on your business? These types of activities:
- Creating plans for marketing campaigns
- Developing and refining your business strategy
- Putting things on your "not to do list"
- Deciding which tactics are working and which are not
- Going over your numbers and figuring out where you can maximize profitability with the least effort
That last point is important. It's about leverage. When you invest time and resources in the activities that get the best results, you can win big.
One of the most strategic things you can do for your business is spend time thinking about what your biggest challenge is and coming up with a plan to overcome it. Most businesses I speak to have challenges in one of these four areas:
- Lead Generation- their marketing efforts are not generating enough qualified leads
- Client Acquisition- their sales process is not effective
- Customer Engagement- high turnover in customers, or difficulty keeping their customers happy, engaged, and referring new business
- Competitive Advantage- their competitors have better marketing, sales and are getting better results.
During your strategy time, you need to figure out two things:
- What you need to start doing to overcome your challenge, and
- What you need to stop doing (this is really important) to overcome your challenge
We believe in strategy and planning before implementing your marketing campaigns, to help you avoid chasing one marketing idea after another with little thought to how it fits into your overall goals, plan and budget. This is easier said than done, and most of our clients tell us that they benefit from the outside perspective of an expert who's not as intimately involved in their business as they are.This is why we offer complimentary growth strategy sessions during we map out a blue print for growing your business. Our strategy session will include a deep dive into what your goals, challenges and opportunities, and you'll leave the call with a plan for growing your business in a smart, sustainable way.