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Setting strategy business: how to go about it?
A clear business strategy gives direction to your business and determines how fast you grow and where you work towards. Yet strategy remains a difficult topic for many entrepreneurs. They work hard but mostly in their business. As a result, they lack distance and overview. Those who want to steer stronger must make conscious choices and act in a goal-oriented way.
As an executive and business coach (22+ years of corporate experience + 8 years of entrepreneurial coaching) I often see the same pattern. Entrepreneurs feel there is more to their business. They know they are working hard but not always on the right things. Without a clear strategic framework, it remains difficult to make progress. A good strategy creates calm and focus. You know where you are going and what you are no longer wasting time on.
What is a business strategy? (short definition)
A business strategy is the set of choices, direction and priorities that determines how your business creates value, for whom and how you differentiate yourself in the market. It is your compass: where do you want to go, which customers do you serve, how do you win, and what investments make the difference?
Here are examples, common mistakes and five tips to get your strategy in focus.
Examples of strategic KPIs
- Growth KPIs: sales, leads, pipeline
- Profit KPIs: margin, cash flow
- People KPIs: retention, leadership
- Execution KPIs: 90-day goals
- Direction KPIs: positioning, innovation
5 tips to get your strategy in focus
Without clear why any strategic exercise remains superficial. It is about more than values alone. What is the reason your company exists? What problem do you offer a solution to? What do you want to mean to customers and employees?
When that is clear, choices become easier. You see more quickly what fits your mission and what is better to let go of.
Strategic thinking starts with looking closely. What works today? Where are you losing time or money? Are there threats or just opportunities you are not yet exploiting? How healthy is your business model?
Many entrepreneurs overestimate their strengths and see their weaknesses too late. Tools such as a SWOT analysis can help but, above all, ask for feedback. Customers and employees often see things you don't notice anymore.
A strong strategy is not a list of ten core values or ambitions. It is choosing what to do and what not to do.
Which customers suit you? Which products deserve extra attention? Which activities do you want to stop? What are you consciously investing in? Making choices creates focus - and focus creates impact.
A strategy without actions remains theory. Decide what you want to achieve within a year, within 5 years and within 10 years.
Also decide what you want to have on the table within 90 days. Small achievable steps ensure progress. This will keep your team focused and keep you on track.
Strategy is not a one-off exercise but a continuous cycle of learning, adjustment and improvement. Schedule fixed strategic moments - monthly reviews, quarterly reflections and six-monthly repositionings. Analyse which implementations or strategic decisions have effectively led to a competitive advantage or strengthening of market position.
Companies that structurally follow their strategy seize opportunities faster, anticipate change better and build agility. It is this discipline that makes growth sustainable.
Common mistakes in business strategy
- Being too operationally busy
- Not making choices
- Confusing strategy with goals
- Too little data
- No follow-up or rhythm
- Putting strategy in a drawer
From strategy to results: time for action?
A strong strategy forms the compass of your business. But as with any growth, change starts with action. Want to sharpen your strategy, review it or finally make it concrete? An experienced executive coach will help you distance yourself, break patterns and make choices that really move your business forward.
Want to discover how a tailored strategy process can accelerate your growth? Schedule a consultation with executive coach Kurt Vervloet and take the first step towards a clear strategy and a more powerful business.
Kurt Vervloet
Kurt Vervloet is a business coach, blogger and speaker. Since 2017, he has been coaching businesses around the world, ranging from solo entrepreneurs, SME companies to executive management teams at large organisations. His clients choose to work with him because of my proven, no-nonsense approach to optimising and scaling businesses. By achieving great results with his clients, he has already been rewarded with several Awards.
