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Business Strategy

The latest business strategy articles, advice and insights from the ProfileTree team.

Facebook Marketing Solutions

With the increasing popularity of the internet, almost every person uses at least one social media website. This can be a major attraction factor for many businesses looking to improve their online presence. Utilizing social media will allow you to reach much higher levels of exposure. One of the most popular social media sites is […]

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Business Networking Sites: How to Find New Opportunities

Business networking is an inexpensive yet effective way of marketing your business. It allows you to grow your business through the spread of your brand among other entrepreneurs. Business networking sites are an effective way to do this. This opens up the opportunity for new potential investors or business partners. Traditionally, networking was done through […]

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Website Flipping: How to Flip Websites for Profit

Believe it or not, websites are a form of real estate. Just as there are many opportunities to make millions of dollars by buying and selling homes, there is huge potential for profit from website flipping. In fact, it is far easier to break into the business of buying and selling websites than most other […]

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Internet Marketing Consultants: Does Your Business Need One?

If your marketing team is not well-versed in online activity, you may benefit from hiring an internet marketing consultant to handle the online presence of your business. An internet marketing consultant handles companies’ web presence and online advertising to increase traffic, gain followers and promote conversions. They have specific goals and objectives to attain and […]

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How to Develop a Brand Strategy – The Full Guide

A brand strategy is an engine behind any excelling business. The process of how to develop a brand strategy can be quite time-consuming and exhausting. Having said that, the merits of executing a good brand plan are countless. To start that journey off, this guide focuses on everything a business owner needs to develop an […]

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Business Strategy Insight

To be able to set up, develop and grow a successful business, regardless of the industry ─ a good business strategy is vital. Whether you’re looking to set new business priorities, outline plans for growth, determine a product roadmap or plan your investment decisions, you’ll need a strategy. Most businesses start small and stay there.

But if that’s not good enough for you — or if you recognize that staying small doesn’t necessarily guarantee your business’s survival — there are examples of companies out there that have successfully made the transition from start-up to small business to fully-thriving large business. Coming to the realisation that your organisation needs one is easy. However, creating an actual strategy is a little trickier.

While it may sound a bit daunting, iterating like this actually makes strategy easier. It will save you from endless visioning exercises, misdirected SWOT (the Strengths, Weaknesses, Opportunities, and Threats) analyses, and lots of heroically uninformed big thinking. Crafting your strategy in relatively small and concrete chunks and honing the answers to the five questions through iteration will get you a better strategy, with much less pain and wasted time.

Questions to ask when building a business strategy:

  • Why are you here?
  • What is your USP (Unique Selling Proposition)?
  • Who is your perfect customer?
  • Why buy from you?
  • What is your go-to marketing strategy?
  • Who are you focusing on?
  • What is your pricing?

In follow-up meetings to discuss your progress, it’s also important to revisit your action plan regularly and to continually update it. Allowing your action plan to be surpassed by developments in your company is a sure way for it to go above and beyond.