How to Develop Strategy Statement

1. Understand the industry landscape, what is it all about and who are the competitors.

2. Understand the customer’s needs, segment the customer and find ways to add value with what you want to serve. You can refer to Product Planning section on how to value add your products. Over analyse makes you paralyse, so don’t over do it.

3. Understand what you need (capability) in order to serve that product and value added services to your customer. In terms of money, people, system and other resources. You don’t want to over do it and kill yourself.

4. Be objective and be ambitious a little bit. Come out with 3 – 5 strategies. You can separate them into 2 phases, 1st phase for launching strategies (the 1st 6 months of your business) and 2nd phase is for post launching (6th months onwards).

5. Always check back your strategies with your business goals and offerings. Focus on the primary services first, the extension or extra value added services can come much later. Too much value added service can kill you and your business. Know what you can and cannot do.

6. Don’t worry if someone says you’ve got wrong strategies, you just need to ask them why. It is up to you whether you want to take heed or not. But never ignore them because sometimes we spend too long in the strategies, it can make us blind. They can be your customer too, so open up.

7. Final one, don’t forget that you need to write all your strategies in a piece of paper. If it only lingers in the head, you risk of losing them. Type it into your laptop is much better just in case the paper gets wet when it rains, you always have a back up. It helps bad handwriting too!!

Is it easy? It is supposed to be easy and doable. I believe in making things implementable, after all only results count in business. i will cover this in Marketing Plan e-Book. Watch out for it’s launch somewhere in January/February 2010.

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