Ridiculously Simple Ideas to Create a Small Business Strategy Courtesy of a Des Moines CPAcustomonecfo
Starting a small business is difficult. Even with everything going your way, a lot of your business’s future depends on forces that are simply out of your control. That’s why having a strategy is so important: you can’t anticipate everything out there, but with a strategy, in place, you can at least give your business a fighting chance to take on whatever comes your way. But how can you do this? Here are some tips from Des Moines accountants on how to create a strategy for your small business. Begin with the End Before you formulate your strategy, you have to decide where you want to end up. What is your business’ best-case scenario? Knowing the answer to this question is crucial because without a clearly defined end-game in mind you can’t hope to craft any sort of strategy at all. How can you make a plan if you don’t know what you’re planning for? Keep it Real One huge mistake entrepreneurs make is failing to live in reality. It’s great to dream big, but at the end of the day, you need to keep your goals achievable. Unrealistic plans lead to impossible strategies, which ultimately lead to failure. Plan a Series of Steps Of course, having an end goal is -- if you’ll pardon the paradox -- only the beginning. How are you going to get there? The next stage of your planning should involve creating a series of steps that will gradually get you to where you want you and your business to be. Rome wasn’t built in a day; your business won’t be successful that quickly, either. Determine your Assets In addition to knowing your endgame and the steps you want to take to get there, you also need to have a clear idea of what assets you have to help you reach those goals. “Assets,” in this case, refers to cash, credit cards, property and any other resources you might be able to get your hands on. Creating an inventory like this is necessary because it will not only help you know what you have at your disposal but -- more importantly -- it will help you know what you don’t have. Which leads us to . . . Get Help when Needed Knowing what you need is just as important as knowing what you have. When you identify gaps in your resources, you need to develop a plan to fill those gaps. Do you need more equipment? Property? Do you need the services of a professional? Find your gaps so you can fill them. Of course, having help along the way is crucial, and having Des Moines accountants on your side can be a game-changer. Talk to us at CustomOne CFO & Controllers to see how we can help you plan your strategy and meet your goals.