A good strategy will give you unprecedented clarity on your brand, your audience, your goals, and how to achieve them. Get it right - and you'll be able to grow your business in a focused and predictable manner. Fail - and you'll have one expensive learning experience under your belt. This is the reason businesses today are investing so much time and money on hiring the best professionals and getting it right the first time.
But how does a bad strategy impact your business? Put simply, it fails in three key areas:
- Increase Company Revenue
- Operate More Efficiently
- Build Awareness & Loyalty
Your strategy is either working for your business or against it. Follow my lead and in 10 minutes you'll figure out if you make some of the most common strategy mistakes, and how you can fix them.
Mistake #1: Building a Brand Without a Plan
Spending a ton of money on launching a brand without a plan in place to grow it consistently is a recipe for an expensive lesson. It's like sailing a ship without a rudder - you may have the best intentions, but mostly you'll go where the seas take you.
Before investing hard-earned money, sit down and turn your romantic dream into an executable plan.