ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Creating a Winning Strategy for Your Business

Updated on October 26, 2018
romdale profile image

Kevin is a Copywriter and Content Writer. He helps entrepreneurs increase sales through optimizing Landing Pages, Sales Letters etc

Strategy is thinking about and establishing new ways to reach business goals. A strategy is describing how you are going to get things done. It is less specific than an action plan, instead, it tries to generally answer the question, "How do we get there from here?"

A good business strategy that will make a difference should take into account existing barriers and resources. The overall vision, mission, and objectives of the initiative will also be keenly considered.

A good business without strategy will struggle and not grow. Every successful business has a strong business strategy that they work with. Several businesses fail today for want of a good working strategy. The right product or service in the right market may still struggle to sell well with a winning strategy.

Every business needs a strategy, what works for the others may not really work for you. Develop a unique strategy and stick to it.

Why Develop A Strategy

A well developed business strategy will help you do the following:

  • Take advantage of resources and emerging opportunities
  • Respond effectively to resistance and barriers
  • A more efficient use of time, energy, and resources
  • Increased productivity

How to Create a Business Strategy

A Compelling Vision: A strong vision is the driving force of any business. A business without one is a business doomed to struggle and fail.

Know your product well: Creating a winning strategy begins with your product. It is easier to develop a winning strategy with a good in-demand product. Discover and outline clearly the strength of your product. Know the benefits the prospects will gain buying it. Emphasis the benefits not the features, the benefits of the product is what you will front in your marketing efforts.

Know the business you are in: You are not in the business of selling a product; you are in the business of selling a benefit or an experience. Find out what benefit or experience you want to sell.

Know your market well: Every product has its own market. When creating a product spend time to research it market. Don’t just throw a product into the market. Create and position a product to fit well in it designated market.

Know Your Customers: If you know them well you will be able to create a plan that will fully cater for their needs. Business is all about meeting needs, solving problems and answering questions.

Know what others are doing: You should learn from what others are already doing. That will help you gain insight into what you should do and what not to do.

Study the trends: Trends reveal what people really want at the moment and how they want it.

Predict the future: This is what Apple does better than all it competitors. Sometimes people don’t know what they want until you show them.

What are your Goals: The goals of your business are what will guide you in creating a workable strategy. Take time to put down clear cut achievable and realistic goals before you begin to strategize.

Questions Your Strategy Should Answer

  1. What are your business broad aspirations and the concrete goals against which progress can be measured?
  2. Across the potential markets, where will you choose to sell and not to?
  3. In your chosen market, how will you choose to win against the competitors already there?
  4. What capabilities are necessary to build and maintain to win in your chosen market?
  5. What management systems are necessary to operate, to build and maintain the key capabilities?
  6. What resources and assets exist?
  7. What obstacles or resistance exist?
  8. Do you want to reduce the existing problem, or does it make more sense to try to prevent (or reduce risk for) problems before they start?
  9. Does the strategy give overall direction?
  10. Does it fit your resources and opportunities?
  11. Does it minimize resistance and barriers?
  12. Does the strategy connect with those who it should benefit?
  13. Does it advance the mission of your business?

You should sit down with your team and develop that winning plan today.

© 2017 Kevin Ashwe


    0 of 8192 characters used
    Post Comment

    No comments yet.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)