Importance of Business Strategy
Every business will have or should have what is called a business strategy. We know that every business owner wants to make money and most likely have either a product or service to sell.
The strategy of how they bring that product or service to market should be almost the entire focus of what they do. Profit is made from the selling of products and everyone knows that the more sales you can get then the more profit you will make.
A good business strategy should be well thought out and captured in a business plan that creates the foundation for any good business. There is a very famous saying that goes like this, “If you fail to plan, then you plan to fail.”
Those words are so true for any business and a business should have 100% focus on developing and implementing their business strategy through a working business plan.
The plan should include market research, competitor analysis, a sale’s plan, operation’s plan and all the different elements of the business. Part of that plan should of course include what the business is going to do in the online space.
However a business owner can not and should not try and do everything. That would mean a huge distraction away from the core strategy of selling the core products or services of the business itself.
It would also mean that the business owners would need a vast amount of knowledge about every single aspect of running a business. The reality is that a business owner should of course be aware of all the elements of a business. They should not however be an expert in them all and quite frankly could never be an expert in every business discipline.
That is why they source certain business tasks out to experts such as accountants, tax consultants, solicitors, telesales specialists etc. A good business owner simply has to find out who offers the best services and then agree targets with them
Online marketing is a specialist area and a vital one for any business. A business owner will understand this and rather than getting involved in the complex issues of social marketing, website building, email communications etc will outsource this to a team of experts and allow them to do what they do best.
In turn the business owner can get on with what they do best secure in the knowledge that other experts in their fields are delivering the services he requires.
A business friend of mine once said to me, “I pay for someone to plaster the walls of my home. Yes I coud do it myself, if I had time, knew what I was doing and could serve my apprenticeship. However I have more important things to do and having my walls plastered is something I am not leaving to chance. I just pay an expert to do this for me properly and I can get on doing what I do best.”
That type of business strategy makes a lot of sense. Let online marketing experts organise and manage your online marketing campaigns while you get on with what you do best.