Sunday, 12 August 2012

Hold or Build Strategy

To SME Owners

In the recent past I attended a talk by a top SA business guru, most of us there run sme businesses.
Some good points were covered, but I did not agree on the point that sme's need to have 3year financial plans/ budgets, yes have a 3, 5, 10 year vision.Most sme businesses are just trying to get through the next 6 months in this Different Economic Climate.( there are exceptions to the rule)

Following on from a previous post on strategy, two main strategies come into play,

Hold strategy- this could include, selective new product development, use of guerrilla tactics
to confuse the opposition( I am doing this with a client of mine, on price with some of the opposition clients selective approach, plus one or two other tricks),selective product enhancements, more focused market segmentation, to name a few, set up strategic partnerships.

Build/Growth strategy- innovation/  new products, new packaging, branding,diversify, social media investment(time and money) aggressive sales action plan, increase sales force, to name a few.

So I hope I have given you some simple but effective areas to think of, there are two things to take into consideration, where your business in it's life cycle and cash flow status, plus your leadership capacity.

Till next time may the Force be with you,I am your silent partner helping you work on your business.

No comments:

Post a Comment