My business emerged out of an opportunity and things happened pretty naturally...

My business emerged out of an opportunity and things happened pretty naturally and organically. But how do I develop a strategy for my business to ensure that it lasts?

SHARE

Since your business is new and has emerged spontaneously, the first thing you need to do is create distance as this will provide you with some perspective. It’s difficult to have a good view of the grand scheme of things when you’re in the trenches – so step back and give yourself time to think.

Next, think about the outside forces that are acting on your business and where they are coming from. Is there legislation that could change your industry? Is a competitor putting pressure on you? Start developing plans for issues that may influence your business.

You never want to be in a position where something happens and you’re not ready for it. Rather plan and hope that it never happens, than the other way around. Make your business decisions based on facts whenever possible, and when you take risks (it’s part of business), make them calculated.

When it comes to making moves, try as much as possible to be proactive as opposed to reactive. Don’t wait for a competitor to undermine you, strategise to stay ahead or differentiate yourself.

When strategising never assume you know what your customers want. Speak to them often and listen to what they’re saying about areas where you’re gaining and those you’re losing in. And when it comes to customers, it’s important to never rest on your laurels – they’re a fickle bunch. If their needs and expectations are not being met by you, they won’t hesitate to find services elsewhere.