Let’s talk about business strategy

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Welcome to the latest episode of The Simply Smart Business Show. In this show, I’m talking about business strategy and what it really is.

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There’s a lot of talk in the online world about business strategy. Some get confused between strategy and tactics. Some say that it isn’t important at all, and all you need is a good mindset.

Let me just say this: having a super clear business strategy is what will help you on the road to success. Yes, mindset is important. So is taking aligned action, but strategy is a vital part of the puzzle too.

I have my own beliefs about what strategy is (and what it isn’t) – I share a lot of this in my masterminds and courses, but in this episode I’m going to run you through the core elements of my strategic framework, so you can get a feel for it. This is what I use in my own business and with all of my clients – it really does work for every kind of business.

Step 1: Validation

You need to understand if your business idea, your offers, your services, the problems you’re solving are relevant or not. If they’re really something that will generate profit for you. You don’t want to waste time and energy on an idea that doesn’t have wings.

  • Get some customer feedback. Is what you’re offering addressing a real struggle for them? Are you tapping into a real dream or desire?
  • Take a look at what your competitors are doing – what are the opportunity gaps?

Step 2: Vision & goal development

Dig into your personal and professional goals – the idea is that we’re going to create the lifestyle we want – the business goals are what will make that happen. Get super clear on what you want life to look like and how much money you need to make in order for that to happen.

Everything needs to be aligned to your personal vision.

Step 3: Roadmapping & pricing

Look at your revenue target for the year and work out what products and services you need to sell and how much they’re all going to cost.

A couple of thoughts on pricing:

  • You want to have offers at different price points, because people will come to you at different levels.
  • Setting prices based on time never works – instead you want to think about the transformation you’re offering and create prices around that. How much time/energy/effort/sanity are you saving them?

Step 4: Branding & positioning

What messaging is going to help you connect to your customers? To their pain points and their dreams?

This is about the you-ness, not the marketing tactics.

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Resources mentioned in this episode:

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For those conscious souls ready to step up and serve. Suitable for established or new coaches.