Planning saves work

  Small businesses often do not spend the time to develop strategy, agreeing priorities, developing a point of difference, and a plan to execute in the marketplace, and as a result find themselves running harder and harder just to keep up.

Developing a Value Proposition to a defined group of customers is as important to a small business as it is to a large one, perhaps more so as an SME does not normally have the resources to waste on efforts that do offer a return, and they generally have less “fat” in the system to absorb mistakes.

Time spent planning up front always pays dividends in time and resource expenditure down the track.

 

About strategyaudit

StrategyAudit is a boutique strategy and marketing consultancy concentrating on the challenges of the medium sized manufacturing businesses that make up the backbone of our economy. The particular focus is on their strategic and marketing development. as well as the business and operational efficiency improvements necessary for day to day commercial survival. We not only give advice, we go down "into the weeds" to ensure and enable implementation.
This entry was posted in Management, Marketing, Small business, Strategy and tagged , , . Bookmark the permalink.

1 Response to Planning saves work

  1. Ask This CFO says:

    In the face of continuous technological changes and financial market volatility, it is becoming increasingly important to define business ideas and validate the concept before launching a high technology or eCommerce venture. One must objectively analyze their business ideas. It enables them to identify the underlying factors that are critical for the longer-term success of the venture and whether their concept is actually a viable business solution. Additionally, the framework evaluates the allocation of limited resources, especially of cash, and helps determine if the venture can deliver a sustainable competitive advantage.

    If you can’t answer the following questions – using no more than the napkin your drink has been served on, the bartender’s pen and a conversation with the person on the stool next to you – then you might want to think again . . .

    Business Questions:

    Who is your customer?
    What is your revenue model?
    What is your cost structure?
    Who is your competition?
    What is your sustainable competitive advantage?

    Thanks K Vaishnav
    http://www.askthiscfo.com

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