Build a Sustainable Business Strategy, Today

The economic impact of the pandemic is forcing many companies to change the existing business model and identify one that will enable them to succeed in the (slow) recovery period. Tweaking the old model may not be enough; a new model that takes into account the changes in buying patterns, technology, financial capital and talent availability, may be needed. Marc Emmer, a business strategy/execution expert who shares his expertise with Vistage’s 23,000 members, recently identified a 10 step framework that you may want to use to help you build a strategy you can execute flawlessly now and in the future.

  1. Develop a true vision that will work in the future
  2. Define your competitive advantage in the changing future
  3. Define who are your new target markets, customers, employees,  partners, etc.
  4. Identify what it will take for systematic growth – technology, people, products, services, etc/
  5. Be data-driven when making ongoing decisions; collect the data to do so!
  6. Think long-term for sustainability. 
  7. But expect the need to make changes in this increasingly VUCA world
  8. Keep the door open to new perspectives and ideas
  9. Come prepared; in a virtual world, people have shorter attention spans, so do the homework
  10. Measure your results and make adaptations and corrections to execute flawlessly

As you develop strategies, measure them and execute them, what new patterns do you note that change the processes?   Share them with us.

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