Why You Need Business Strategy and Tactics
Businesses need strategies and tactics. Understanding business strategy and tactics is about understand the differences between them.
Running a business is a balancing act between long-term and short-term planning and concerns. A good example of this is business strategy and tactics. If your business doesn’t have both strategy and tactics, it will suffer in the long run.
But what is the difference between business strategy and tactics?
Business strategy is about long term planning. It is about deciding your overall goals and developing plans and policies that can help you meet those goals. Tactics are short term actions, the things that need to be down now. Tactics should be used as actions that bring you closer to your overall goals.
Unfortunately, business owners sometimes gravitated to either strategy or tactics while not paying attention to the other. This leaves gaps in your business and can sabotage your success.
If you concentrate on strategy without paying enough attention to tactics, you can end up focusing on the future but not doing, or knowing, what actions you need to take to get there. This can leave you stuck in spite of good strategic thinking.
On the other hand if you only focus on tactics without strategy, you can find yourself running from one great thing to the next without getting the full value from them or creating any forward momentum. Tactics without strategy can create a lot of busy work and overwhelm as you go from one to another without a plan for how they integrate together.
Maximize the value of strategy and tactics by using both
In order to get the most out of either strategy or tactics you need both business strategy and tactics. To make sure you have both, I recommend working backwards. Do you know where you want to end up? Once you have an idea for that, plan your strategies. It is important to be realistic, and create strategies that work with your business’s available resources. Once you have your general strategies in place you can use them as guides when you make tactical decisions. Tactical decisions will often need to be made from day to day and will include things like how you spend your time and where you commit your resources. Tactical decisions should support your business’s general strategies.
As you are deciding on your business strategies and their supporting tactics, remember to ask questions about how they will help your business and bring you closer to your business goals. If you need some help with asking questions, sign up for my newsletter to receive “Questions for Business Planning” my pdf guide to helping you ask questions about your business.
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