Let’s learn about Business Strategy

In order to learn the Business Strategy, let’s dissect Business and strategy and examine both the aspects individually.

Business can be defined in end number of ways, it has simple definition and difficult definition as well.

Here’s what I have for you, A business is an exchange of goods or services to earn money. It cannot stretch beyond this definition. Value offerings have evolved a lot, but business remains the same.

Apple inc supplying Apple products, i.e iphone, Mac, ipod, ipad etc is them doing business by exchanging products (which is tangible in nature) with money.

Netflix, is a service provider. They provide services all across the globe, people just have to pay their subscription fee to consume the service. That service being entertainment.

Now let’s come to the 2^nd part

Strategy

A strategy is a plan of action. The Strategy can be short-term or long-term.

Business Strategies are tied to objectives and goals, to obtain goals and objectives what you need is a realistic strategy that just doesn’t stay in paper, but gets materialized.

Let’s say that you are running a Digital Marketing Agency, you have acquired a client. Your client has laid down a set of goals and objectives that he wants to get fulfilled from your side.

He has given you an objective, he wants you to gain +5000 Followers to his page in 40 Days. So, now that is what your goal is, to achieve that, what you need is a concrete strategy.

You would go to Page Insights and examine the behaviour of followers of the page

You would inspect the business model of your client

You will plan the content that you wish to be uploaded on regular basis

Some of that content would generate brand awareness, some would generate leads, while some being informative would generate engagement.

Keeping on with this plan will gradually increase your followers. However, your client wants result shortly, so now your next strategy is to conduct Page Like Campaign.

Now to conduct Page like campaign, again you need strategy and tie that strategy with goals and objective.

You need to come up with Creative for the Advertisement which ideal for the campaign, resolution and text overlay wise.

You need to do target market and target consumer research, so that you only tap your ideal target market containing just your ideal target customers.

After all of this, you will publish the paid campaign and track the progress, any deviation in set standards would again give birth to a cluster of strategies to counter the inevitable situation that you have at hand.

Hence in Business, there never is a static strategy that produces desired results every single time. Strategy has to flexible to deal with ever changing scenario’s influenced by uncontrollable factors.

Sometimes as an Entrepreneur or a Businessman you might encounter a situation that would fail all the strategies that used to work before.

Every Entrepreneur meets that demise; it is inevitable to not encounter that. However, in crisis like that, when nothing seems under control; it is best to seek help or change the narrative fundamentally, even if it appears to against the set standards.

This is exactly where the creative and innovative skills of a hustling Entrepreneur are put to test.

About Author

meet Kunjal Chawhan a digital marketer and business blogger that always have passion of blogging, who wants to give you a clue on buiness startegy. check more on my profile by following links.

Website: investinganswer.blogspot.com
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