The Power of Solution-Based Strategies 0

As small business owners, we tend to avoid a deep dive into strategy at the best of times. Face it, we are usually too busy fighting the day to day fires, keeping up with communications and managing the finances. Yet the time always comes when we need to put down the fire extinguisher long enough to take a hard look at how we are going to take our businesses to a new level.

This process usually begins with scouring over the financials, reviewing actual results against projected goals, and gauging client satisfaction. While data and analysis are sound approaches to strategy, this approach doesn’t allow for a ton of creative, out of the box thinking.

Henry Ford said that if he had asked his customers what they wanted, they would have said faster horses. Ford certainly wasn’t focused on his company data, to find a faster solution to get around.

Do you want to be more innovative in your business? Then try this solution-based strategic approach complements of the co-authors of Playing to Win.

Create Choices – There are always multiple ways to reach the end goal. Create completely different ways to get you to the same result.

Specify Conditions – Once a list of possibilities has been established, review each one independently as a viable strategy. Ask your team what conditions would need to be in place for that possibility to be successful?  Note that you aren’t asking if these conditions exist already.

Identify Barriers – Now that the conditions have been identified, review each one and decide which of these are the highest risk of coming to fruition.

Design and Conduct Tests – Look at research, or conduct surveys to see if there are ways to reduce the risk of these identified barriers. This is where data can be very helpful.

Make Your Choice — based upon the solution that has the highest chance of succeeding.

Maybe you won’t be as famous as Henry Ford, but this approach has certainly helped many businesses get out of the rut of status quo and positively impact the direction of their company.

About the Author Cidnee Stephen is the owner of Strategies for Success - a marketing company that focuses on the needs of budget minded small businesses and professional services. You can follow her on Google+, Twitter, and Facebook Read more »

Click here to join the conversation (0 Comments)
RATE THIS ARTICLE 1 Star2 Stars3 Stars4 Stars5 Stars

How to make faster, more informed business decisions

LivePlan: Online Business Planning Software

Your business is up and running, and now you’re laser-focused on growth. And you’re smart: you want to keep your finger on the pulse of the financial health of your business. But, you don’t have time to run reports or analyze endless spreadsheets.

What if you had an easy-to-use financial dashboard that gave you a visual overview of all your key business numbers? What if you could set up budgets and sales forecasts without sacrificing critical time away from your business?

This is where a powerful, yet easy to configure business dashboard comes into play. Click to learn more about how a business dashboard can help you grow faster and make smarter, more informed decisions.

Click to continue