A good business strategy has by definition an economic objective: that of making a profit for its proper functioning and survival. But to last over time, the economic objective is not enough. A company must have a purpose that surpasses any mercantile project. It must carry a goal that goes beyond it, marked by values that are the foundation of the community that is created around the brand.
This community is your customers. Your mission and your values are their reason to buy your products and services and not those of another. And the way you embody these values and bring them to life is what keeps them loyal to your company over time.
Beyond the “external” commercial aspect, the business strategy involves defining a mission, a vision and allows you to give consistency to what is happening inside your business. The more your employees are aligned around a common vision, the more their decisions and efforts will naturally be coherent and geared towards a common goal.
But how do you find your “why” for your business strategy?
1- Determine your goal
To determine your “why”, you need to understand what your ultimate goal is. Not the one for next month, not the current year, but the one Poland Phone Number List that will never change and will still be the same 100 years from now, if your business still exists. Ask yourself the following questions: what is my mission with my clients? What impact does my business have on them and on my ecosystem? Why am I devoting my professional life to this project?
For example, if your company sells plus size clothing: your objective is to allow curvy women to have access to fashion with the ultimate goal of combating stereotypes. If your company markets coral-friendly sunscreens: your objective is to give everyone the means to reduce their ecological footprint with the ultimate goal of protecting the environment. If your company markets ethical coffee: your objective is to promote fairer consumption with the ultimate goal of protecting producers and the environment.
Your objective is also your reason for being.
2- Determine your values
Values are attached to your objective. These come to clarify the “how” you realize your “why”. They illustrate your core beliefs and are already implemented by you and your teams. They are guides for your employees on how things should be considered, thought out and done.
You can define them by asking yourself the following questions: what are the driving principles of my daily action? What are my priorities as a business leader? What image do I want to convey to my employees, my partners, my ecosystem?
It can be about trust, responsibility, innovation, entrepreneurial spirit, etc. : Up to you !
Take the example of a brand we all know: Coca Cola . The company defines its values as follows:
- Leadership: having the courage to build a better future
- Collaboration: leveraging collective genius
- Integrity: being authentic
- Responsibility: deciding what should be done
- Passion: to commit fully
- Diversity: being as inclusive as our brands are
- Quality: doing what we do well
These values are reflected in all the brand’s actions and statements, and are unconsciously present in the minds of consumers, which creates brand attachment and loyalty.
3- Determine your vision
The final part of your “why” is determining your vision. This vision is your “what”. It determines what you will accomplish in the next three to five years, a list of actions that correspond to your goal. Your vision should be both realistic and ambitious.
To define it, ask yourself the following questions: what are my short and medium term plans? What goals have I set for the coming years?
The vision allows everyone in Gulf Phone Number your company to have a clear vision of the future and therefore to know how to achieve it.
Here again, let’s take the example of a company well known to everyone: the Total group , which defines its vision as follows: ” to become the responsible energy major in the next 20 years by helping to provide more affordable energy, more available and cleaner, to as many people as possible. »
From this vision will come actions at all levels of the company. This vision responds to the mission “to produce the energy that the world needs, and will continue to need, and to make it accessible to as many people as possible.