Small Business Planning - How To Do Small Business Strategy

Small Business Planning Pillar #2: Strategy

You’ve discovered the “what” – that is your business idea. You now need the “how”. That’s strategy.

As you first decide to take action on your – as yet – valueless idea, you contemplate why it could be such a good idea, how many thousands of people could benefit from it, how you could build it taller, faster, stronger and how you are going to tell the world. What you are contemplating is your small business strategy. And whether you like it or not you are already small business planning.

Think of your small business strategy as nothing more than a collection of thoughts such as:

- what your products is

- who your customers are

- how your product can benefit your customers

- why they would want to buy it over another product

Business strategy can be written, sketched, oral or perhaps a combination of all three. It doesn’t matter what it looks like as long as it means something to you, and indellibly imprints itself into your subconscious.

Warning: small business strategy doesn’t like being messed with.

Why? Strategy is so closely aligned with your big idea that to change it is almost to say “forget that big idea, I’ve got another one quite similar”.

See what I mean. It sounds silly. The whole concept is diluted, eroded, discredited. Don’t get me wrong, it can be done but proceed with great caution. As the tailors’ mantra puts it, Think Twice, Cut Once. Gaining buy-in to a big idea is a big sell and from all external angles you must be a rock. Don’t let your granite turn to soapstone.

So it is critical to define your small business strategy before you open your idea to anyone other than a select group of carefully chosen confidants.

Your strategy is a stepping stone between big idea and commercial reality.

Tweak and adjust it now as any changes down the line will shake its foundations.

Ten Pillars Of Small Business Planning – Introduction

Small Business Planning Pillar #1: How To Start A Business Plan – Mindset

Small Business Planning Pillar #2: Strategy

Small Business Planning Pillar #3: Mini Business Strategies And Postage Stamps

Small Business Planning Pillar #4: Changing Gear: Seed Money & Intrapreneurs

Small Business Planning Pillar #5: Rapid Content Building

Small Business Planning Pillar #6.0: The Four Financial Statements

……Small Business Planning Pillar #6.1: Profit And Loss Statement (P&L)

……Small Business Planning Pillar #6.2: Cash Flow Statement (Forecast)

……Small Business Planning Pillar #6.3: Balance Sheet Statement (Forecast)