Should you Revisit your Business Strategy?
So, you got your sales report for this quarter. How are your sales figures doing these last few months? A little bit lower than you actually expected? Then maybe it is time to revisit your business strategy. You might need to revamp, and then implement it.
Now, strategic management is the process of evaluating the best policies for business owners/managers to carry out, since specific goals and priorities must be achieved by a certain time period. You need to organize, plan, have resources, excellent communication and monitor the progress. (This last point is the part we are examining very closely.)
Think about it... when was the last time you even looked at your plan? Maybe when you first wrote it up. You might need a just a few simple edits or possibly a completely new draft all together.
So, while your team is working to implement the strategy, you need to focus shifts from initiating to monitoring. You have to make sure work is on track and stays on the proper course. Make sure your goals and purpose are both met. Otherwise, take out your computer and begin rewriting.
Simply start by highlighting the points that are not working for your business, then ask yourself, what tactics could improve this weakened aspect(s)? You might need some time to ponder on it, but know that ultimately, it is a sink or swim option. So, let's choose to make it to the ocean for a few laps!
When You Change Your Mindset...You Change Your Results...