Do you have ideas, but don’t know what steps to take to create a viable business? Start with Strategy!
When I speak with people who have an idea and would like to make a business out of it, they are often in a rush to launch. They move into execution without developing a proper strategy.
Imagine, an individual comes up with a great business idea, but then targets the wrong audience, or, the product is not positioned properly in the market. What if the brand image is wrong, the product did not quite hit the mark, or is priced incorrectly? Unfortunately, I see this happen all the time – people losing hundreds of hours and thousands of dollars because they haven’t defined their strategy. I recently spoke to a woman who spent $15,000 developing an online program and has since gone bankrupt. This could have been avoided with a proper strategy. As a result, the world was robbed of her great concept.
“Strategy is a style of thinking, a conscious and deliberate process, an intensive implementation system, the science of insuring future success.” Pete Johnson
Strategy is the first in four main stages involved in bringing a concept to market – Strategy, Building, Engaging, Evolving. The strategy includes defining a clear vision and mapping your unique place within your market. Identifying your ideal client is a key part of the strategic process, as well as defining the brand image, products, programs, services, pricing and distribution channels.
A recent client had spent a lot of money trying different types of advertising over the last three years to attract clients, without ever developing a proper strategy. The result was a patchwork of successes and failures, and a lot of wasted time and effort. After properly defining her strategy, she realized that she could spend less time actively promoting her business and more time actually generating income. She also learned that she could charge more and bundle her services in such a way as to increase her profitability.
Based on a sound strategy, you can then build your products, programs or services, and your marketing platform – website, social media, etc. After the building stage, you will begin to engage with your ideal target audience through strategically aligned communications, marketing and promotion and begin to build your community, nurturing your sales funnel (moving new leads through to prospective clients). The final stage is an ongoing process of evolution, in which you continue to monitor results and adjust the strategy and tactics.
To help individuals and conscious entrepreneurs develop their strategy, I began by drawing on my 25 years of corporate experience helping organizations define their long term vision and strategy. I adapted this process by incorporating the wisdom and spiritual practices I used to transform my own life. My two-part process for defining and executing your strategy includes the following programs: 1.0 Tap into Your Zen Spot™ and 2.0 Conscious Prosperity Path™.
If you would like to uncover your own true calling and gain the tools and confidence to make your path successful, I offer one-on-one coaching services and host group sessions in the Montreal area and online.
Contact me (Lianne) at: email@example.com