Strategy and Tactics - Make Your Competition Irrelevant

I was recently asked to write an article for The Business Bulletin on “Strategy and Tactics - Building the Framework to dominate Your Industry”.

The bottom line is that a strategy without momentum is as useful as business plans and spreadsheets that hold your company back from success. With all of the change in the world around you, you also need to be willing to make changes to your strategy along the way—and keep it aligned with your business goals. Without that willingness and openness to change, you stand little chance of keeping up with the times. But in delivering strategy we need to look at things differently, it’s not a comfort zone exercise, which is what you get if you don’t really care about the outcome.

Here is a brief overview of each topic area and you can also read the full article by clicking the title above.

Creative Thinking

Creativity is often viewed as a special skill that only the lucky, gifted few naturally possess. While there's no denying that some people are more naturally creative than others, this myth takes away the joy of those who aren't so 'creative' to begin with. Creative thinking isn't limited to prolific painters or innovative entrepreneurs; it can be used by anyone wanting to make a difference in their business. When looking for creative solutions, you should focus on continually re-thinking your perspective instead of forcing yourself out of the box.

Balanced Action

Balanced Action is the ability to make things happen. If your strategy is balanced between taking enough risk and ensuring an orderly business environment, then you're more likely to succeed. Finding a balance between making sure you know what you're doing in terms of your fundamentals, but also not becoming so stuffy that you can't take advantage of opportunities as they arise.

Flexibility

Businesses that can respond to change in the competitive environment will thrive. They can alter their strategies when necessary and make the changes necessary to respond effectively to new technologies or greater social demands. They will be able to reach and maintain a competitive advantage over those that cannot.

Experimentation

Experimentation is a great way to evaluate your business. It allows you to determine if your new product or service truly provides value to customers, and whether your current business strategy is the right one to drive growth. But it's not just limited to that. Anytime there's a change in your company—whether that's a new product, new advertising campaign, or even just an updated menu—you can benefit from experimentation. In fact, I'd argue that businesses must experiment to succeed in today's ever-changing business environment.

Adaptation

Adaptation is a useful strategy for successful businesses, and it shows that you're willing to work with your customers to develop better products or services. By actively listening to user feedback, and addressing their needs when making changes, you can boost customer loyalty while still working towards producing the best possible results.

If you need help with Strategic and Tactical Planning please do get in touch, Adam Payne our founder is a specialist in this area having decades of experience in this very subject – contact Adam here.