Did you ever wonder how some individuals are so successful that they actually change the world? Are you trying to change your world by starting a new business? Today we talk about combing strategy and entrepreneurship, the dynamic duo of business success. We’ll be pulling a little information from Lean Strategy by David Collins. Harvard Business Review, March 2016.
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- Design a strategic plan using our prior Strategic Planning Podcast
- Or use this simple template:
- Pick your vision
- Inspect your internal strengths and weaknesses.
- Observe your outside opportunities and obstacles.
- Develop an overall strategy to get you to your horizon.
- Design sub strategies focusing on certain needs like marketing, expansion, procurement.
- Design a business plan by checking out our Business Plan Podcast. Or using your strategic plan as a guide. Each item in your action plan should relate to one of your sub strategies
- Strategy can help entrepreneurs
- Focus on a horizon
- Investigate and measure opportunities
- Interrelate your strategy and tactics
Moral: Keep one eye on your horizon and the other on the step in front of you.