10 Strategic Ingredients to Boost Your Business

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July 21, 2014 • Strategy • Views: 27488

By: Hebé Lugo, Strategic Minds Founder
Twitter: @HebeLugo

Start planning the growth of your business following this basic recipe:

  • Assess your strengths, weaknesses, opportunities and threats
  • Reflect on the company’s current situation, where you want to take it, and what are the steps to achieve it
  • Study the trends and market opportunities
  • Contact a strategic planning consultant and experts in other business areas to help you design and execute the plan
  • Set up a plan with your management team and advisors and share it with the staff
  • Periodically analyze your competitive advantage, positioning and the value it provides to your customers
  • Review your internal processes in order to achieve greater effectiveness in the company
  • Take into account the organization’s culture and its ability to adapt to change, so it successfully implements the targeted objectives
  • Estimate the investment, risks and financial impact of planning
  • Be flexible to adapt quickly to unexpected changes (there are many opportunities for growth here)

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