Thought #6
Discover and transmit your unique path to success
Thought #6-Discover and transmit your unique path to success

The Scenario

You have launched your business few years ago, with sole compass your entrepreneurial instinct. So far, this model has worked well, but the market in which you are operating is becoming increasingly complex, with new legislations, new entrants and new rules of the game.

The Issue

You are struggling to understand which are these changes that are outside of the boundaries of your market that could impact your business and what are the implications to your operating model. In addition, your once competitive advantage is becoming day by day weaker as the competition is becoming more intense and thus change of direction seems inevitable.

The Action

To address this issue, you should perform the following exercises:

  • Understand the latest changes or trends in the environment (country) in which you are operating that could have an impact in your market. Some very important sources of changes could be political, economic, social, technological (PEST analysis), legislative or even demographic
  • Perform an objective assessment of your strengths and weaknesses that are within your control and are unique to you but also perform an objective assessment of the opportunities and threats that are outside of your control and are common for you and your competitors (SWOT analysis)
  • Crystallise in a single phrase the purpose of your business (Mission) and where you want to go (Vision) to make sure all your employees have clarity on who you are and what you wish to achieve
  • Define they key lines of action for a timeframe of at least 3 years, that you believe are essential for staying aligned to your mission and you believe will help you reach your vision. These lines of action will provide a compass to you and to all your employees on which initiatives/ investments are worth pursuing
  • Simulate how these lines of actions will impact your Profit & Loss, Balance Sheet and Cash Flow statements and use this simulation during your annual reviews to assess if your Strategy remains relevant and effective

This is exactly how agga-consulting team can help you. In a simple, fast, affordable and highly practical manner we can help you to define your Strategy and thus help you discover and transmit your unique path to success.