Strategy & Planning
So what exactly is "Strategy"?
There are of course a large number of answers to this question, but one we like goes as follows:
- It’s the definition of the business’s goals, and the means used to achieve them.
- It states the long-term objectives of the business.
- It defines the scope of the business.
- It establishes how the objectives will be achieved.
- And it justifies why this approach will work.
It's important to recognise all these aspects, because without a well-reasoned sense of direction businesses can often fail to fulfil their potential, can stagnate, and in the worst case fail completely.
So our Business Strategy Workshops are structured to the specific needs of your business, and are designed to help you clarify your vision and return to your business with renewed enthusiasm. For more information, please click here or on the link above.
Sometimes this is all our clients need. Other clients already have their strategy worked out, but need to reflect this in a formal business plan. This might be as part of a fundraising or refinancing project, or as part of bank facility renewal negotiations, or it may be required for potential purchasers of the business. Whatever the reason, it's important to appreciate that the business plan should be tailored to the specific requirements of the business at that point in time.
A business plan is not just about "the numbers", though. It needs to reflect and incorporate the strategic vision of the business (which is why a Business Strategy Workshop is often the first stage of the whole business planning process), and explain how the business aims to achieve this. The financial forecasts need to reflect all of this - which may then raise further questions about the appropriateness and viability of the whole strategy.