This is definitely one of the things we are struggling with. We’ve built a Business Model with elements of existing successful companies with some changes here and there but a strategy is a little more complicated than that. It isn’t actually, you just need to know where your going with the business. We followed the 6 Simple Questions for Building a Solid Strategy on Inc.com.
- Why do we exist?
- Where are we going?
- How will we conduct ourselves?
- What will we do?
- How will we measure our success?
- What improvements or changes must we make?
First of all you should have a timeline for these strategies. Have a Long term strategy and have short term strategies with time periods on them (ex. 6 months or 2 years). We struggled with questions 2 and 4, they seem so simple but ‘Where are we going‘ and ‘what will we do‘ are questions that need some time, especially when you start to think, when? Thats when the long term and short term strategies come in handy. Keep in mind the last two questions are follow up questions to your answer in question 4.
They are simple questions but the answers won’t be easy. Take your time answering. Here’s an example of how one company answered the 6 questions that was also on the article by Lee Colan on Inc.com.
Also an extremely useful tool would be a course on strateyzer.com