You are ready with your business idea, but what do you really need and where to start?
It can be overwhelming, but I am here to tell you that it doesn’t have to be.
Getting clear on your business strategies will help you to create an action plan that will position your business and brand for success.
A simple way we work and create strategies is by working with the following acronym, SOSTAC.
Want to watch the video where I explain this? Click here
What is SOSTAC ®?
Where are we now?
This will be your situational analysis.
Look at your current situation, look at what you have right now in your business. What is working, and what isn’t.
If you aren’t 100% what YOU add to your business, look at what transferable skills you have.
Based on your skills, experience, and knowledge - what do you really bring to the table.
Where do we want to be?
Here you will look at the KPI’s and expected results you want.
What do you want to measure in order to see if you have success or not?
Would followers on your Social Media platforms show success, will website visits show success, and how do these activities produce income. Because all actions must ultimately lead to sales right?
How do we get there?
Strategy defines your long-term goals and how you're planning to achieve them. Your strategy gives you the path you need toward achieving your organization's mission.
What are the tools that we need to get things done?
Tactics are much more concrete and are often oriented toward smaller steps and a shorter time frame along the way. These are the specific things you need to do in order to achieve the strategy.
You can also look at the Tools you need to get your strategy done. This can be the emailing system, or website host, or scheduling tools to get your social media posts automatically done.
What is our plan?
Do you need to have new content every day, do you need to have paid workshops to let your audience get to know you, do you need to run ads in order to build your audience?
Thus listing the various specific actions you need to take to get the results you want from your Strategy and Objectives.
Did we get there?
Looking at the results and data to see if the objectives were achieved.
Are the actions we are taking getting the results we want? What is happening in our brand and business? Are we on track to see success?
If you need help mapping out your business growth strategy, head on over to the Work with Us section to set up a discovery call with us.
Join us on social media to get your daily fix of tips and tricks to build your business: