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Implementing business strategies

Posted on 31 March '15 by , under General News.

Many business owners have fantastic ideas about how to improve and grow. In order for these ideas to become a reality, they first need to be translated into a strategy. However, a strategy is only ever as strong as its implementation is effective. Here are our top tips for making sure that your strategy doesn’t get lost in translation:

1. Break it up into steps: Plan out each stage of strategic execution and make sure that you have a realistic timeframe to complete each step. It is also important to ensure that each step is a logical progression from the last.

2. Align your strategy with your resources: You need to ensure that your business has the resources to implement the strategy. Remember that resources include cash, infrastructure, manpower, skill sets, and time!

3. Account for unforeseen obstacles: It is impossible to predict what challenges may arise in the course of your new venture, but by assuming that something will go wrong, and allocating appropriate leeways in your plan, you will be far better prepared.