Every brand’s success can be traced back to how well they execute fundamental strategies. Small nuances in the way brands plan, implement, & collaborate with retailers can set you apart as the category leader giving you a sustainable competitive advantage.
Today I want to talk to you about a problem that plagues all businesses. I work with brands at all levels of development, from pre-revenue startups to multi-billion dollar companies with a strong global presence. They all have these similar problems in common.
Today I want to share with you 10 strategies to help you build sustainable sales and profits. As you begin to develop your business strategy for the next year, it’s wise to first reflect on the prior year. Did you achieve all your business objectives? Did you reach your goals? What would you have done differently, given the opportunity? Did your actual results match the goals of the projections that you set? These are all important questions you need to answer.
What I find is that when brands are setting their New Year’s resolutions, typically they don’t complete the project. Or, they put it off. Now is the time for you to take this seriously. Again, it’s not just the small brands that struggle with this. Larger brands have their own set of challenges. I’ll explain more in a minute.
This is the first place to start when developing your business strategy. Next look at the goals themselves. Were your previous goals reasonable and achievable? Don’t set goals that are too far out of reach. For example, if your business grew 5% last year, don’t set a goal of 25% for the next year.
Your goals should be smart goals. They should be Specific. Measurable, Attainable, Realistic, and Timely. Resolutions are similar to goals. They encourage and motivate us to achieve more than we did previously. They also help us stay focused and on track. While you should set your business goals at least 6 to 12 months ahead on the calendar in order to achieve them, I find that most of the businesses that I work with don’t have really well-defined goals. Learn key strategies to help you achieve your goals for this year and beyond.
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Empowering Brands | Raising The Bar
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