“Efficiency is doing things right; effectiveness is doing the right things.”
In determining the optimal strategies to grow your company, you need to consider your company’s strengths, and opportunities that can best leverage them.
If you don’t take time to do this, you become too tactical. That is, you continue to use the same tactics that have gotten you to the point you are at. And oftentimes, the strategy and tactics that got you where you are today are NOT the strategy and tactics that will get you to the next level.
So, spend time figuring out the best strategies to follow. Ideally they leverage your company’s strengths. Importantly, look at strategies that have worked in other industries; this allows you to do things differently than your competitors and gain competitive advantage.
Do you have the right plan?
The right strategic plan for your business includes:
1) the best strategy to follow
2) a written roadmap so there’s no confusion as to what your team needs to accomplish and when
In no time, you’ll have a strong plan to follow so your company wins.
Why play the game of entrepreneurship if you’re not going to win?
Today’s Question: What was the Mayflower’s cargo before it was chartered to carry the pilgrims to America in 1620?
Previous Question: Legend says that George Washington threw what object over the Potomac River?
Previous Answer: A silver dollar.
The origin of this story perhaps comes from the memoirs of his step-grandson Parke Custis who wrote that Washington once threw a piece of slate “about the size and shape of a dollar” across the Rappahanock River.
The Potomac is over a mile wide at Mount Vernon, so this is most likely a legend, but a cherished one for Americans.
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