Top Insights from Forbes Business Development Council Members on Building a Winning Strategy
When it comes to building a winning strategy for your business, advice from experts is always valuable. The Forbes Business Development Council consists of experienced business leaders, executives, and entrepreneurs who offer their expertise to help others succeed. In this article, we’ll discuss some of the top insights from council members on building a winning strategy.
Start with Clear Goals and Objectives
A winning strategy requires clear goals and objectives. According to council member Jessica Davis, CEO of Nathan Accounting Group, “Defining clear goals and objectives within your company is key to driving success.” These goals should be specific, measurable, and attainable. By setting achievable goals, you create a roadmap for your company’s success.
Understand Your Target Audience
A winning strategy also requires a deep understanding of your target audience. According to council member David McGraw, Executive Director of P&L Technology, “Knowing your target audience is essential to developing a winning strategy.” Understanding your target audience’s needs, preferences, and behaviors will help you tailor your products and services to meet their needs.
Adapt to Change
As businesses evolve, so should your strategy. According to council member Elliot Begoun, Founder of TIG Brands, “A winning strategy must be dynamic and adaptable.” This means keeping up with trends, changes in the market, and the needs of your customers. Being adaptable allows you to pivot and adjust your strategy quickly to stay ahead of the competition.
Stay Focused on Your Core Competencies
Focusing on your core competencies can help you stand out in a crowded market. According to council member Peter Reitano, CEO of Abacus, “Focusing on your core competencies allows you to build a winning strategy around what you’re best at.” By sticking to what you do well, you can differentiate yourself from competitors and build a loyal customer base.
Collaborate with Partners and Industry Leaders
Forming strategic partnerships and collaborations can also help you build a winning strategy. According to council member Lisa Michaels, CEO of Natural Born Coaches, “Collaborating with partners and industry leaders can provide valuable insights and support.” By working with others in your industry, you can gain new perspectives and access resources that can help you grow your business.
Conclusion
Building a winning strategy requires a clear understanding of your goals, your target audience, and your core competencies. It’s also important to stay adaptable, collaborate with others in your industry, and stay focused on providing value to your customers. By following these insights from Forbes Business Development Council members, you can create a winning strategy that helps your business thrive.
