Strategies Determination – One of the Most Important Business Planning Skills
With Goals and Objectives clearly defined in the most simple, specific terms, you must now determine the Strategy you will adopt to reach the Objectives and thereby attain your Goal. For example, your Goal may be to sell 4,000 units of a particular product at a price of $100 per unit within six months. Your Objectives might be:
Month 1: 50 units sold
Month 2: 150
Month 3: 300
Month 4: 500
Month 5: 1,000
Month 6: 2,000
6-Month Total: 4,000 units sold
The question now becomes, “How will I reach these Objectives?” Will you use direct mail? Email? Will you advertise? If so, what advertising medium will you use? And so on. The best Strategy for you will meet three criteria’s:
(a) First, it will be easy to define, to understand and to execute.
(b) Second, it will be based on the skills and resources most readily available to you.
(c) Third, it will be practical, offering you the best chance of success.