Elevate Business Coaching

Business Strategy

Business Strategy Coaching

Although it is easy to define, forming and executing it is what sets a business apart. A business strategy refers to all the decisions taken, and actions undertaken by a business for achieving the larger vision. Knowing what business strategy is and how to execute it properly can help businesses become market leaders in their domain. Precisely, a business strategy is the backbone of every business, and any shortcomings could mean that the business goals get lost midway.

A BUSINESS MODEL HAS 5 CORE ELEMENTS

There are five major components to any business model:

01. To Grow, Get All of the Elements Right

If you think through, analyze and correctly solve each element of the business model, your company will grow.

02. Sequentially Solve the Business Model

If you think through, analyze and correctly solve each element of the business model, your company will grow.

03. Understand the Role of Each Business Model Element

Once you understand each business model element, then it is much easier to solve for the right strategies to grow.

04. Strategic Alignment is the key to Execution

If you think through, analyze and correctly solve each element of the business model, your company will grow.

01. There are many
paths to growth

Understand all the options to growth, before diving into solving it.

02. Understand where you are on the growth matrix

Are you in “A Special Kind of Hell”, “Running in Place”, Only if we…”, or “Growth Nirvana”?

01. There are many
paths to growth

Understand all the options to growth, before diving into solving it.

02. Understand where you are on the growth matrix

Are you in “A Special Kind of Hell”, “Running in Place”, Only if we…”, or “Growth Nirvana”?

SO MANY OPTIONS, SO FEW RESOURCES

There are many growth options available to a business. Growth options can be separated into three categories and nine elements of a business model:

Within each element there are three broad options:

Targets

Value Proposition

Go-to-Market

COMPETITIVE ADVANTAGE STRATEGY

At Elevate business and leadership coaching we explain and show that the way to grow is to drive customer value better than competitors in a financially superior way. If you get the customer value element of your business model right, you will most likely turn on the growth engine. Yet, savvy competitors can often replicate a company, and over time can catch up and potentially surpass a leading company. The way to thwart competitive pressure is to develop sustainable competitive advantages, which is like building a big competitive moat around your business model.

THE FOUR KEY STRATEGIC QUESTIONS IN DEVELOPING A STRATEGY

A series of leadership problem solving workshops focused on answering the following key strategic questions leads to great strategies:
1. What context is important to our future in terms of our business, industry, and competition?
2. Which customer segments in which markets and geographies can we drive significant value with our products and services and how do we ensure we competitively differentiate our value proposition and optimize the efficiency of our go-to-market for our target customer segments?
3. What are the 3-5 major strategic pillars of our strategy?
4. What is the portfolio of strategic initiatives and how do we ensure we have the right resources and governance to accelerate our capability to drive strategic change?

WHEN SHOULD WE DO STRATEGIC PLANNING?

Given the various levels of strategy (corporate, business model, org & financial, and functional) to solve for, your company’s strategic planning process should be staggered with some overlap and feedback loops, since they should influence each other.

COMPETITIVE MARKET STRATEGY

01. Get the Big Picture Right If you don't understand market dynamics, it will be hard to become the dominate market leader.

02. It's All About Competitive Positioning If you beat current and future competitors at the customer value game, you'll win.

03. Learn the Tools Adoption curves, PESTLE, and 5 Forces will help you identify market issues and opportunities.

04. Dominate your Market First If you aren't winning in your current market, don't try and compete in new markets.

WHEN YOU ANALYZE A MARKET, FOCUS ON TWO QUESTIONS

When answering these questions realize while there are helpful tools and concepts, there is no right way to answer them. You do need to be hypothesis-driven, so you don’t “boil the ocean.” And, it takes a lot of thinking and synthesis.
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