Corporate strategy is taking the vision of the company and turning it into a tactical plan with milestones, personnel requirements and deadlines. It takes into consideration your existing finances and work-to-date and determines the overall strategy to meet the founders’ exit strategy.
When most companies start to earn a profit, it is highly recommended to invest that profit right back into the business. The ways to do that depends on the priorities of the organization. Some companies may have certain highly skilled leaders that could hurt the company performance if they were to leave. You may want to invest in them by providing a small profit sharing program with those employees. This is less risky than raises since you cannot see into the future as to what your profits will be next year.
You may also need additional equipment or upgrades to software in order to meet the demand for your product or service. You may need more employees to service your customers or outsource your call center to ramp up your sales acquisition program. You may want to train employees to set a certain standard of performance within your teams.
For us, we meet with your team to develop a road map of what direction the company should be going in, along with milestones you want to reach, and when you want to reach them. You may still have money from funding rounds or you may need to seek additional funding in order to fulfill your vision. We’ll help prioritize what needs to be done now, what else can be done in a few months, and set into place a plan to meet longer term goals. We’ll assist in developing your funding pitch, financial forecast, and execution plan. Everything you need to keep you on track and successful.
Do you want to outsource this type of work so that you can focus on higher level activities? Subscribe today to learn more about building your business and receive a free PDF “Process Plan for Creating Your Own Innovation Program”. Feel free to email us to learn more about how we can help you grow your business.