Business strategy: how to make your company successful

For any organization that wants to grow, it is essential to have a good business strategy, especially in a world in constant change, where it is necessary to have well established objectives and mission, because a correct planning means better results and staying competitive in the market.

A business strategy requires changes in different aspects and areas, therefore, in this article we will discuss the importance of having a strategy and how to achieve a profitable business.

Importance of having a business strategy

You cannot have a goal without a business strategy and if you want to reach your goals, it is necessary to develop a strategic plan. Here are some of the reasons why it is important to have one:

It allows for planning

It helps you define how you can achieve your objectives and therefore it is important that you establish an action plan to know what expectations you will be able to meet, how long you will be able to achieve them and what resources you have.

You get better results in THE short tERM

With a good business strategy you ensure the expected results and growth in each of the stages. About 48% of leaders consider that the planning and implementation of a strategy is crucial to obtain the desired results.

You have a competitive advantage

It focuses on the company's strengths and uses them as a competitive advantage to stand out from others and position the brand with its unique qualities, giving it an identity of its own.

Greater control

Having a business strategy allows you to have greater control over your objectives, to better follow up on activities and to see if you are achieving what you have planned.

How to create a business strategy

At London Consulting Group we know how important it is to have a well-implemented business strategy, that's why we define one tailored to your business. Some of our services include:

Strategic Planning

With the strategic planning solution, we focus on areas of improvement in various aspects of your organization and review your current strategy to optimize it and improve its efficiency. We also review the metrics used to ensure that they are aligned with your company's objectives.

We must also assess the company culture to know how open your staff is to change.

We talk to senior management to gather information, as it allows us to understand the current state of the strategic plan and also to assess how the business strategy is currently being managed.

We then seek to align expectations and scope with the planning to reach common goals. Finally, we let you know the added value that our strategy will give to your business.

These benefits are:

• Creation of sustainable value and profitable growth to strengthen your market position.
• Generation of differentiators and distinctive value for the markets, avoiding short-term improvement strategies.
• Methodology to establish clear strategic objectives and capitalize on organizational synergies and strengths.
• Systematic implementation of a common vision and a practical operating scheme to maximize shareholder value.
• Focus on value chain optimization and effective management of key initiatives to take advantage of market opportunities.

Succession Plan

Succession planning is a part of the business strategy in which we ensure that you have a successful leadership transition without facing challenges and uncertainty and can maintain the legacy of the business.

Our model focuses on empowering leadership by communicating with management and family to ensure effective communication and build trust in the new administration. To do this, we identify suitable successors.

This process requires:

First, we analyze the obstacles that may hinder or speed up the transition of the outgoing leader, as well as the key elements that guarantee financial stability and the challenges that the new leader will face.

On the other hand, we also identify the qualities that the new successor must have to carry out the leadership. For this, we must have candidates and evaluate each one of them.

Now, to maintain harmony between the next generation and the past, we implement a holistic approach to make this transition enjoyable. We  implement projects such as preparing the company, preparing the next generation and the retirement plan.

Our succession plan will provide peace of mind for the family and action plans such as:

• We act as catalysts to implement an effective succession plan.
• We work together with management and the family to create a communication plan that ensures the support of the entire organization.
• We generate confidence in the family regarding the new management and its excellence.
• We establish a governance model that balances accountability and autonomy for the new executive leader.
• We ensure the well-being and continued growth of the organization.

Business model innovation plan

It is important that your business strategy has business models focused on innovative products and services.

We use methodologies that simplify the strengths, weaknesses and processes of your company by analyzing the buying cycle of your customers and the organizational culture of your staff. We rely on an approach called Design Thinking to improve the business model.

This process is carried out as follows:

We gather information from your current processes to learn about your existing business operations. This information helps us to identify weaknesses and strengths and improve some areas. Also to know the factors that have a performance and impact on your processes.

Through Design Sprints, we work on business models to achieve greater customer satisfaction. Its objective is to be aligned with the client's needs.

When working with this service:

• We address customer needs and desires through the innovation process to achieve greater customer satisfaction.
• We optimize the business operation by validating and applying a new and more efficient business model.
• We provide solutions aimed at improving customer experience and operational efficiency.
• We adapt your business to face changing market challenges, achieving a greater competitive advantage.

Achieve Success with London Consulting Group

At London Consulting Group we implement solutions to achieve better results in companies and turn their objectives into reality. Our strategic planning and implementation methodology ensures that our clients generate differentiating elements and distinct value for their markets.

Within the business strategy, we seek to capitalize on the synergies and strengths existing in the organizations, promoting concepts such as the value chain and providing a management model.

Do not hesitate to contact us, our Business Shapers will be ready to support you.