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Business Strategy - Page 3

The latest business strategy articles, advice and insights from the ProfileTree team.

Exploring the Rollercoaster of Family Business Statistics 

Salma SamirSalma Samir // 20th February 2024

Imagine a world where Grandma’s secret cookie recipe is worth more than Bitcoin, and your cousin’s used sock collection funds the next big tech startup. That’s the reality of family businesses, where blood, sweat, and (sometimes) tears combine to build empires that make Game of Thrones look like a children’s tea party. But before you […]

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The Importance of Visitor Experience with Nuala Mulqueeney

ProfileTreeProfileTree // 17th January 2024

The Covid-19 pandemic has shut the door on international tourism. Thankfully, we have professionals like Nuala on our doorstep.

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B2B Digital Marketing Essentials: A Complete Guide

ProfileTreeProfileTree // 17th January 2024

B2B digital marketing trends are always changing, and so are the methodologies, strategies, and nature of modern campaigns. Whilst the risks and challenges are not rapidly shifting like in the B2C ecosystem, it still does require a lot more effort – rather than just knocking on clients’ doors and offering services! The introduction of digital […]

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Voice Marketing: How to Create an Amazing Brand for Voice

ProfileTreeProfileTree // 17th January 2024

CHOOSE AN EYE-RELIEVING THEME Marketing is the bread and butter of the modern business. Corporations combat each other to install their own brand and voice in the brains of their consumers in an aggressive manner, whether directly or indirectly. The science and art of building a tone of voice within as successful marketing strategy is […]

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Reputation Management: How to Keep Your Business Name in the Clear

ProfileTreeProfileTree // 16th January 2024

The reputation of a business is fundamental to its survival. The trust and certainty of the customer can have an immediate and significant impact on an organization’s main concern. Previously, organizations depended on verbal exchange by their partners keeping in mind the end goal. In this cutting edge time of long range informal communication, sites, […]

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You Are a Media Company

Ciaran ConnollyCiaran Connolly // 20th January 2024

In today’s digital age, every company, no matter its industry, size, or niche, must create and distribute valuable content to establish thought leadership, build a brand, and connect with its target audience. Companies, small businesses, and entrepreneurs need to adopt a media mindset and think of themselves as media companies to market themselves effectively. In […]

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Understanding the Language of Data in Business Statistics

Noha BasionyNoha Basiony // 14th January 2024

Imagine, if you will, a treasure map etched in numbers, each metric a cryptic clue leading to untold riches. We, business analysts, are modern-day cartographers; our tools are not shovels and compasses but algorithms and statistical models. We navigate the twisting terrain of data, unearthing hidden patterns and uncovering correlations that whisper the secrets of […]

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The Importance of Business Statistics for Success

Maha YassinMaha Yassin // 26th January 2024

In the bustling business world, where intuition and risk often tango, a robust partner emerges: business statistics. Far from dry numbers confined to spreadsheets, these statistical tools weave a vibrant tapestry of insights, guiding crucial decisions at every turn. Imagine navigating intricate financial landscapes with predictive models, optimising operations with precise data analysis, or unearthing […]

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Beyond Design: The Statistics of Business Cards

Miral NassarMiral Nassar // 29th January 2024

In today’s digital age, the importance of business cards is often overlooked. However, these small pieces of paper hold significant psychological implications and are still relevant 2023 for businesses of all sizes. Firstly, business cards represent your brand and are a physical reminder of your meeting or interaction with a potential client or partner. In […]

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How did Workplace Communication Statistics Affect the Workplace?

Esraa AliEsraa Ali // 29th February 2024

Effective communication is crucial in the workplace to ensure that all team members are on the same page, working towards common goals and fostering a positive work environment. In contrast, poor workplace communication can lead to misunderstandings, low morale, and decreased productivity. The importance of effective communication in the workplace cannot be overstated, as it […]

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What Are Essential Product Manager Skills?

ProfileTreeProfileTree // 11th January 2024

Product management is more than just knowing everything you can about your product. Both soft and hard skills apply to the product manager’s ability to lead, decide, and perform their job role more effectively. In this article, we’ll look at 6 hard and soft skills you need to succeed in product management. Product Manager Soft […]

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Unveiling the Secrets of Construction Industry Statistics

Salma SamirSalma Samir // 11th February 2024

The world we inhabit rises from the ground, brick by brick, beam by beam. But behind every towering skyscraper and cosy bungalow lies a hidden language—the language of construction industry statistics. Far from cold and dry, these numbers paint a vibrant picture of a sector that shapes our lives in countless ways. This journey isn’t […]

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Busting Myths: The Statistics Behind Business Success

Maha YassinMaha Yassin // 13th January 2024

Starting a business is indeed an exhilarating endeavour, isn’t it? Yet, as we both know, there’s no denying that it can be akin to navigating a ship on stormy waters. Even from our perspective as seasoned business owners, we cannot simply ignore the chilling statistic that nearly 20% of businesses sadly capsize within their maiden […]

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How to Start an Online Business from Home?

ProfileTreeProfileTree // 31st January 2024

Imagine this: No commute, flexible hours, unlimited income potential, all while working from the comfort of your own home. Sounds too good to be true? Well, in today’s digital age, it’s not. The allure of online businesses from home has captivated millions, offering a path to independence, freedom, and a career built on your own […]

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Types of Organisational Structure for Business Management

Panseih GharibPanseih Gharib // 26th February 2024

As a business manager, your ultimate goal is to stand out and improve your business. The secret to unlocking your company’s potential lies not in fancy equipment or fleeting trends but in the foundation itself: your organisational structure. It’s the blueprint for how your team operates, the invisible map guiding decisions, workflow, and success. In […]

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Advantages of Branding: Standing Out in a World of Brands

ProfileTreeProfileTree // 7th January 2024

What are the advantages of branding? In a globalised, competitive market like today’s, your brand has become more important than ever. But what is branding and what are the advantages? Understanding the advantages of branding will help you to make a strong and lasting impression on customers. Ultimately, this is crucial to running a sustainable […]

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Corporate Strategy: How to Do It Like the Giants

ProfileTreeProfileTree // 7th January 2024

Many companies lack long term planning. Image credit: s24352.pcdn.co

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Mastering the Effective Communication Cycle

Panseih GharibPanseih Gharib // 9th January 2024

Communication forms the bedrock of individual and collective success, permeating every corner of life. Harnessing its power through skilled execution ensures clarity and understanding, paving the way for personal fulfilment and organisational achievement.  The communication cycle commences with the sender crafting a message, carefully choosing a conduit for its transmission, and ultimately awaiting the receiver’s […]

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Revolutionary Streaming Strategy: HBO Max Success

Panseih GharibPanseih Gharib // 11th January 2024

In recent years, the streaming landscape has experienced a monumental shift, with the emergence of platforms such as HBO Max that have redefined the way audiences consume content. This success is attributed to HBO Max’s innovative strategies, compelling original programming, and the vast library of beloved shows and movies. HBO Max, launched in 2020, represents […]

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Business Investment: The Revving Engine of Growth for 2024

Miranne KhaledMiranne Khaled // 4th January 2024

In the pulsating heart of any vibrant economy lies a critical aspect—investment. Business investment is a potent catalyst for progress within this interconnected web of interconnected actors. But what exactly constitutes this fundamental act? At its core, business investment signifies the strategic allocation of resources, primarily financial, with the expectation of future returns.  This can […]

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How to Develop a Marketing Strategy in 7 Steps

ProfileTreeProfileTree // 3rd January 2024

There are many elements to a successful marketing strategy. Image credit: Business2Community

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Business Social Media Sites: An Insider’s Guide to Real Results

ProfileTreeProfileTree // 21st January 2024

There’s one great reason to take a deep dive into the business social media sites available today: time and money invested in your business’s social needs to produce results in return. The good news? Our social media pros have compiled a simple guide to the social platforms you need to know about. PLUS quick takeaways on making each perform […]

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What Is Business Level Strategy? Discover 3 Key Types

ProfileTreeProfileTree // 3rd January 2024

There are a number of key types of business level strategy. Image credit: ExpertProgramManagement

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How to Create an AI Strategy: Ultimate Guide

ProfileTreeProfileTree // 2nd January 2024

The value of AI businesses is currently exploding. Image credit: FinancesOnline.com

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Google Advanced Image Search: The Complete Guide to Mastering Visual Content Discovery

ProfileTreeProfileTree // 2nd January 2024

Google Reverse Image Search allows you to search with images rather than text. Credit: ProfileTree.com

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Must-Know Business Development Statistics

Maha YassinMaha Yassin // 20th February 2024

Do you sometimes feel overwhelmed amidst the business development labyrinth, unsure how to steer in the right direction? You’re certainly not alone; it’s a path many have trodden before. It may astound you that 90% of global firms are small businesses—a righteous salute to all those intrepid entrepreneurs who dive headlong into the bustling world […]

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Business Formation: A Comprehensive Guide to Establishing A Successful Venture 2024

Miranne KhaledMiranne Khaled // 16th February 2024

Embarking on the journey of entrepreneurship is both exhilarating and demanding. Dreams of success mingle with the responsibility of meticulous planning and execution. Every aspiring business owner knows that a firm foundation is essential for long-term prosperity, and there’s no more critical step in building that foundation than business formation.  In this article, we’ll delve […]

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Business Ethics 101: Profound Insights Into the Moral Maze with Key Statistics

Miranne KhaledMiranne Khaled // 11th January 2024

Imagine the marketplace as a roaring river, churning with ambition and competition. Every merchant paddles their vessel, striving to reach the lucrative shores of profit. But in this tumultuous stream, the compass often spins, the currents of morality swirling unseen beneath the surface. This is where business ethics emerges, not as a simple life preserver […]

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Business Insurance: A Safety Net for Your Venture with Recent Statistics 2023

Miranne KhaledMiranne Khaled // 27th December 2023

When it comes to exploring the intricate world of business insurance statistics, one might compare the experience to navigating through a dense fog. Even individuals with a wealth of entrepreneurial expertise can face the formidable task of comprehending the multifaceted aspects encompassing market share, premiums, and the intricate details of personal and commercial insurance lines. […]

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Introduction 101 to the Impressive Evolution of Business on Instagram — With Key Statistics

Miranne KhaledMiranne Khaled // 11th February 2024

Remember when social media was used for sharing holiday photos and cat videos? One decade fast forward, and the landscape has shifted dramatically. Today, platforms like Instagram have morphed into bustling marketplaces, buzzing with businesses of all shapes and sizes. But how did this transformation happen? And why does Instagram hold a special place in […]

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The Numbers Don’t Lie: How a Business Strategy Can Change the Game

Maha YassinMaha Yassin // 25th December 2023

Venturing into the business world is often likened to solving a complex puzzle. From personal experience, we can attest this includes an underappreciated component – harnessing critical business strategy statistics. Studies suggest that whilst 67% of leaders deem their organisations skilful at formulating strategies, only half feel they execute them adeptly. In this article, we’ll […]

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Social Sales: How Social Media Agency Make Business Better

ProfileTreeProfileTree // 11th February 2024

Social Sales: What a Social Media Agency Can Do for Your Marketing The world of marketing has changed constantly through the years from starting with a salesman going door to door to sell his products to television advertising. In the digital age, marketing has transformed to be mainly digital and social media marketing has become the best […]

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How to Overcome Workplace Bullying? Tips for Employees and Companies

ProfileTreeProfileTree // 20th February 2024

Most British workers have suffered some form of direct or indirect bullying. Image credit: SMELoans.co.uk

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Marketing Campaigns: Understanding A Business Essential

ProfileTreeProfileTree // 21st February 2024

Let’s face it: if marketing campaigns don’t play a big role in your marketing strategy and your business, you’re missing out on a world of possibilities. That’s why we’ve compiled our guide to some marketing campaign essentials. After all, there are many different types of marketing but they all have the same purpose, and that’s […]

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How to Create a Highly Effective Video Presentation in 2024: An Expert Guide

ProfileTreeProfileTree // 19th December 2023

When presenting new ideas, you need to use the most captivating means of sending your message. Video presentations have become one of the most effective ways of presenting, and better yet, it has never been easier. Now through the online means available for creating video presentations, and the simple accessibility of it all, anyone can make […]

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Retail and COVID: What is Click and Collect? A Complete Guide for Retailers

ProfileTreeProfileTree // 19th December 2023

Order should be collected outside of the shop’s premises to minimise indoor contact. mage credit: Mick Haupt, Unsplash

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Business Strategy Insight

To be able to set up, develop and grow a successful business, regardless of the industry ─ a good business strategy is vital. Whether you’re looking to set new business priorities, outline plans for growth, determine a product roadmap or plan your investment decisions, you’ll need a strategy. Most businesses start small and stay there.

But if that’s not good enough for you — or if you recognize that staying small doesn’t necessarily guarantee your business’s survival — there are examples of companies out there that have successfully made the transition from start-up to small business to fully-thriving large business. Coming to the realisation that your organisation needs one is easy. However, creating an actual strategy is a little trickier.

While it may sound a bit daunting, iterating like this actually makes strategy easier. It will save you from endless visioning exercises, misdirected SWOT (the Strengths, Weaknesses, Opportunities, and Threats) analyses, and lots of heroically uninformed big thinking. Crafting your strategy in relatively small and concrete chunks and honing the answers to the five questions through iteration will get you a better strategy, with much less pain and wasted time.

Questions to ask when building a business strategy:

  • Why are you here?
  • What is your USP (Unique Selling Proposition)?
  • Who is your perfect customer?
  • Why buy from you?
  • What is your go-to marketing strategy?
  • Who are you focusing on?
  • What is your pricing?

In follow-up meetings to discuss your progress, it’s also important to revisit your action plan regularly and to continually update it. Allowing your action plan to be surpassed by developments in your company is a sure way for it to go above and beyond.