Why Strategy Matters in Business

4. Financial Strategy

Financial strategy is important for business growth or expansion. Many companies do not have the funds in the beginning to promote growth within the business, but continue to grow at an exponential rate. This is because the company has a well-planned financial strategy.

A successful business will have a number of investors, but it cannot depend upon them for expansion. The financial strategy details earned income, the number of investors, and reserve funds.

5. Operational Strategy

Operational strategy includes a set of tactics aimed at creating higher profits while lowering production costs. This can include purchasing and installing better manufacturing equipment and the best technology such as computers, software, and hardware. It may also include opening a location close to the target audience or obtaining products from a less expensive source.

The internet is an excellent resource to plan and implement aspects of all of these strategies. It is one of, if not the, best tools for businesses today. Companies are able to research target consumers and competitors on the internet quickly and efficiently. Social media forums are one of the best methods for this research, marketing and advertising products, and attracting new investors.

Magnetic Look works with small to medium size businesses who are looking to improve their positioning on the market and increase their profits. Our programs and services are designed to strategically deliver the results you need in order to succeed. If you need help creating systems and strategies for your small business brand that are easy to implement and bring you desired results fast, we’d love to hear from you. Learn how we can help you and request your quote here.

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“Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” Sun Tzu

A business strategy is a set of planned tactics, or steps, that ensure a successful business. A strategy must be carefully planned and executed in order to achieve a desired goal. Starting a new business or advancing a company to the next level is no different. A strategy is the direction one must take to reach the desired goal and tactics are steps that need to be taken to travel in the right direction. Almost all businesses have five strategies in common – marketing strategy, product strategy, pricing strategy, financial strategy, and operational strategy. It is imperative that entrepreneurs take time to research and create a strategic business plan with all of the steps included and stretching your business forward.

1. Marketing Strategy

Marketing strategy targets a desired audience and designs advertisements aimed at that particular audience. This strategy also involves researching similar businesses, their products and /or services, and their advertising methods. Companies can use this information to outshine the competitor’s advertisements, products, and services. Today, one of the most popular, as well as successful, marketing strategies is social media, in all its forums and platforms, on the internet… Leer más “Why Strategy Matters in Business”

Small Business Strategy Tips

I don’t know what the name of your small business is, nor do I know what product or service you are selling. What I do know is that if you start small business plans without a strategy, you will fail. All successful business plans have a good strategy behind them. And when it comes to small business ideas and strategies, there are several aspects that you will want to consider. Let’s take a look at a few of them.

1. Leadership

Before you even start small business plans, you need to develop good leadership abilities. You need to be able to create small business ideas and enforce them. After all, what good are ideas if there is no one to put them in place? If you have staff, you also need to know how to direct them while at the same time making them excited to work for you. To be a boss is one thing – to be a boss that your employees respect will take your company to a whole new level. In small business, it is also important to remember that leadership does not just involve leading others, it also involves listening. Listening to the needs of your staff and clients will help you to better your business and increase your sales.


I don’t know what the name of your small business is, nor do I know what product or service you are selling. What I do know is that if you start small business plans without a strategy, you will fail. All successful business plans have a good strategy behind them. And when it comes to small business ideas and strategies, there are several aspects that you will want to consider. Let’s take a look at a few of them.

1. Leadership

Before you even start small business plans, you need to develop good leadership abilities. You need to be able to create small business ideas and enforce them. After all, what good are ideas if there is no one to put them in place? If you have staff, you also need to know how to direct them while at the same time making them excited to work for you. To be a boss is one thing – to be a boss that your employees respect will take your company to a whole new level. In small business, it is also important to remember that leadership does not just involve leading others, it also involves listening. Listening to the needs of your staff and clients will help you to better your business and increase your sales. Leer más “Small Business Strategy Tips”

The 7 Sections of a Business Plan

If you really want to improve your business, the best way to do it is to write a Business Plan. It is not the plan itself that is so important, although it is a valuable asset but the process as it makes you really think about the business and focus on the way that you will operate and grow the business in the future.

There are seven key topic areas in a good business plan as follows:

1. The Executive summary

Although this is at the beginning of the plan, you will write it last as it is an overview of the entire plan. Most banks will read it first or use it when considering future funding so ensure that you have the most important points of the plan written well. Include rationale for needed financing and how this will be used, the growth you will expect as well as the products and services that you provide and staffing required. Remember, you are writing this for someone who may not be familiar with the details of your business so be clear and and comprehensive but also keep it brief so the reader is not bored.


By Linda | mymagneticblog.com

If you really want to improve your business, the best way to do it is to write a Business Plan. It is not the plan itself that is so important, although it is a valuable asset but the process as it makes you really think about the business and focus on the way that you will operate and grow the business in the future.

There are seven key topic areas in a good business plan as follows:

1. The Executive summary

Although this is at the beginning of the plan, you will write it last as it is an overview of the entire plan. Most banks will read it first or use it when considering future funding so ensure that you have the most important points of the plan written well. Include rationale for needed financing and how this will be used, the growth you will expect as well as the products and services that you provide and staffing required. Remember, you are writing this for someone who may not be familiar with the details of your business so be clear and and comprehensive but also keep it brief so the reader is not bored. Leer más “The 7 Sections of a Business Plan”

How “Emotional” Business Branding Affects Your Business

But what the savvy, successful business owner knows that the struggling competition does not is that “branding” means more—much more—that just getting your name and your product out there in from of the public. Successful branding is actually more about building relationships.


http://www.mymagneticblog.com/

When you think about it, even for a second, you don’t have to stretch your mind too far to think of the dozens of ways that the world of business has dramatically changed, especially over the past decade.  One thing that’s remained consistent, however, is the concept of business branding.  Now, it really doesn’t even matter what kind of business you have.  Whether you run a giant corporation or a little “hometown” corner store; in the end, successful branding can be a significant determining factor in the success—or failure—of your business. Leer más “How “Emotional” Business Branding Affects Your Business”