There are 7 specific areas you need to consider for your business development. These are:
- Primary Aim
- Strategic Objectives
- Organisational Strategy
- Management Strategy
- People Strategy
- Marketing Strategy
- Systems Strategy
These 7 areas will fine-tune your plan for the ultimate level of success. In this blog we’re going to cover the first three.
It’s essential in business development to set goals and see a vision for the future. This needs to go beyond the business and you need to think about what you want out of life. What do you dream about? How do you see your success unfolding? Why are you doing what you’re doing? Knowing and understanding these things will give you the momentum to get started and the stamina to see it through. Even take a minute to write them down and tape to your desk for a constant reminder of what you’re aiming for.
These are essential in taking your business from surviving to thriving. All of these objectives should offer solutions for how to get to your primary aim. There are many things you can use to set strategic objectives, but here are a couple of the most popular:
- Money: Setting monetary goals is a great and simple way to see how you are doing at any point in the game. It’s easy to measure and easy to find adjustments to help meet this goal.
- Worthy Opportunities: When considering partnerships and other business opportunities you need to think about whether or not they will help you reach your primary aim. Those that will, are the best opportunities to seriously consider.
The key in setting standards and goals is not to limit you or stress yourself out. You need to find some quantifiable things you can use to measure your progress toward your primary aim. These are just two suggestions, but make sure no matter what standards you set, you are paying attention to the details, as these are the biggest keys to your success.
The strength of your organisational structure can make or break your business, so it’s important to take the time to put together a solid structure for your business to grow from.
Generally a company is organised around the roles and responsibilities that need to be taken care of on a daily basis and the personalities that need to fulfil those roles.
No matter what roles and responsibilities you’ve defined for your employees, you must always keep your personal primary aim separate from your company’s primary aim or mission statement. Once you’ve identified the primary aim for your company it will be easy to set up a position structure that will work.
Don’t forget to put together position contracts. Your employees should sign a statement of their roles and responsibilities. This helps keep them clear for you, the employee and other employees or other individuals.
You can see how these areas all work together to build a solid structure on which to build your business. The next time we will discuss the remaining four key areas.