“’Strategy is not the consequence of planning, but the opposite: its starting point’
Henry Mintzberg
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Strategic thinking in practice
In the ever-evolving landscape of entrepreneurship, the question persists: “Do small to medium-sized businesses truly need to strategize?”. Without hesitation, our answer remains a resounding YES. In fact, they may need it even more than their larger counterparts. Why? Because for smaller businesses, the competitive terrain is vast and ever-expanding.
Many entrepreneurs and SME owners grapple with a sense of guilt for not always having a formal strategy in place for their ventures. Perhaps it’s the conventional definition of business strategy that creates this barrier, making it seem daunting and out of reach. But what if I told you that many aspects of strategic thinking come naturally to these innovators?
Traditionally, strategy is framed as a comprehensive plan of action designed to achieve long-term goals and objectives, analysing internal and external factors, setting targets, and formulating tactics for resource allocation and market competition. It’s no wonder that tools like SWOT Analysis, PESTLE Analysis, Porter’s Five Forces, and others can feel overwhelming and inaccessible to small business owners who juggle multiple roles and responsibilities.
At SlightlySkew, we resonate with the sentiment of overwhelm. That’s why we’ve embraced the wisdom of Alex Osterwalder and simplified the strategic process, making it practical and executable for busy entrepreneurs. Our approach revolves around leaning into aspirations, honing in on market needs, and relentlessly refining product and service delivery.
By staying attuned to market dynamics and continuously enhancing offerings, small businesses can pave the way for strategic initiatives that ensure sustainability and viability. It’s about keeping the essence of strategy alive in daily practices, fostering adaptability, and seizing opportunities as they arise.
In essence, strategy isn’t about complexity; it’s about clarity and action. At SlightlySkew, we’re passionate about empowering small businesses to thrive in an ever-changing landscape, one strategic step at a time. Let’s journey together towards a future of success and resilience.
