4 questions to ask yourself when you need to business strategy fast

by Heather Dandridge  yesterday at 12:38

Strategy in a hurry? Here are 4 questions to ask yourself when you need a business strategy fast

We all know planning and business strategy take time. But sometimes you just don't have that time, right?

You are faced with a decision, opportunity, and if you don't make your mind up or help your organisation to make a good decision you're going to miss the boat. We've pulled together 4 key strategic questions to ask of yourself and those around you, when you have to make a strategic decision in a hurry.

1. Who's the target customer for your product/service?

2. What's the true value-add of your product/service from their point of view?
Why would they buy from you (rather than from one of your competitor, or not at all)?
How is your product/service different from the competition's products/services?
What does your product/service do for them that they can't do for themselves?

3. How can I best deliver my product/service, at lowest cost?
For example, how can I deliver 80% of the product or service's value for 20% of the cost?

4. Which assets within your business do you need to think about?
For example, this might be your brand, production machinery, methods or patents.

By following this quick method, it's possible to cover a lot of the strategy planning ground very quickly.

When it comes to planning out your strategy properly, Patrick MacDonald has a course on Strategic Analysis and Competitive Positioning.
 
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