Business Strategy

SEIZING TODAY. OWNING TOMORROW!

Whether your company is just starting out or it has been in business for decades, creation and continual refinement of your business strategy is essential to its success. Businesses have a wide variety of goals such as sales growth from existing products, selling more innovative products and services, increasing sales in a current customer base, and/or improving your digital advantage over your competitors. Below are the essentials to a strong business strategy:

Company Vision and Mission

It’s easy to get lost in the fast pace business world of today. Whether your company is well-established or in startup mode, having aligned Vision and Mission statements is key. A clear Vision statement is forward-looking, aspirational, and sets long-term goals filtering out all the noise. A strong Mission statement is focused on what objectives the company is pursuing and who they are serving in accomplishing their vision. Combined, the statements keep organizations focused, enhances the company brand, and keeps customers engaged.

h-Bar SOLUTIONS VALUES

When deciding on how to decide, company core values are the companies North Star guiding crucial actions and behaviors to meet the company’s mission. Core values keep the team informed, aligned, and guide them through crucial decisions and actions resulting in a cohesive organization.

Business Objectives

It’s one thing to set the vision and mission, but how are you going to get there? Business objectives define specific and measurable goals. They give leaders the ability to measure and track progress through Key Performance Indicators (KPI’s). Business goals and objectives help keep the company moving in the right direction.

h-Bar SOLUTIONS SWOT

Ever wonder what your company does best now, how you fare against your competition, risks, and opportunities are on the horizon? Frequently conduct a SWOT Analysis. SWOT analysis is a tool that assess your strengths, weaknesses, opportunities, and threats to create successful business strategy for the future.

h-Bar SOLUTIONS RESOURCE ALLOCATION

Juggling multiple projects, clients, and priorities is a constant battle. Resource allocation provides clarity in the chaos. It identifies all of your available resources and strategically aligns them to key actions to accomplish your business goals. Since the only constant in the world is change, it’s crucial to consistently reassess your allocation of resources.

Business Activities

This is self explanatory, and will be where the company focuses day-to-day to make a profit and ensure business continuity. These are activities such as producing the product, marketing, sales, loans, ect. Activities should be extremely aligned with your Go-To-Market strategy and your business objectives.

Key Performance Indicators (KPI)

Peter Drucker sums it up best when he said, “What gets measured, gets done.” Key Performance Indicators, or KPI’s, quantifiably measure progress towards your business goals. They provide focus for improvement, make analytical based decisions, and keep focus on key actions and priorities.

FOCUSING ON THE CORE OF YOUR BUSINESS

Continual refinement of your business strategy helps make decisions more efficient, relieve stress within the organization, and keep focus on actions that create value. h-Bar has worked with companies of all stages; from startups to the well-established.