Why having a clear and concise business strategy is the key to success

"If you don't like the road you're walking, start paving another one."  Dolly Parton

When I started my first coaching and writing business in 2009 I knew I needed a clear plan as I’m prone to work in organised chaos and flit from one shiny object to the next! Sound familiar? 

When I started looking into what a business plan should look like, I found all of these stuffy tomes  that I was sure would take more time to put together than I had. Patience is not a virtue I possess. I just wanted something that would give me direction so I knew where I was going, you know the what, why, who, how in a nutshell.

So I created a slick one-page business plan that has been an instrumental part of my business journey. 

It consists of the following 3 pillars

1. Vision Statement: the what
2. Mission Statement: the why
3. Ideal Client: the who

Then each quarter I put in my Goals broken into 4 key areas for growth, and that would be the how!

1. Marketing
2. Product/Service Development
3. Financial - Sales | Revenue | Profit
4. Professional Development

Deciding on each goal was an easy process: What did I need to do to take my business closer to my Vision? 

In 2018 I did a crazy thing! I started a pub in Stockholm, Sweden. At the beginning of 2020 as I do each year, I sat down and went over my business strategy, upgrading and revamping my Vision & Mission and setting my overarching goals for the year. Little did I know that a couple of short months later I would have to throw the whole thing out and start again!

Here’s my original Vision for The Roo & Elk, Stockholm's first authentic Australian Pub, year 2 in business:

“...To be the destination pub where guests can have an authentic Australian experience that is renowned throughout Scandinavia…”

Then on the 26th of April 2020 I penned this new Vision: 

“...To survive the pandemic so when it's over we'll be the destination pub where guests can have an authentic Australian experience that is renowned throughout Scandinavia…”

Those first 4 words informed every decision! I cut costs, streamlined systems, pivoted with every restriction, added new products and kept my head above water.

Having a clear and concise strategy no matter what the environment is the key to business success. It will ensure survival, but not only that, it is the compass by which your business can thrive. It is a living breathing document that can roll with the punches and pivot as required. It isn’t set in stone, but it should be set. 

I am on a mission to inspire and support business women like you to create a strategy that takes the stress out of decision making and gives you the roadmap to the business you dreamed of when you started.

Business planning doesn’t need to be boring and stressful, it should be fun and inspiring and I’m here to make it so!