A strong strategy is the heart of your successful business

Business Strategy Adviser Logan Australia

Businesses that have clear objectives or goals, robust accountability and a shared sense of purpose should always outperform those that just show up and go through the motions.

Strategy lies at the heart of most successful businesses. To achieve this you need to resource and execute with a clear purpose. Few businesses have a strategic plan or a robust planning process. Changing this situation should be a top priority! Here are two top tips for business owners.

1. Process Creates the Plan

Getting strategy at the heart of your success will require you to carve out some time, get a process started, and shake things up. There’s no better time to review and tweak your business model, future-proof compelling services, and to get your strategic building blocks in place.

Just as every good strategy has key elements, every good plan needs a step-by-step process. In fact, the process is often just as important as the plan itself. A strategic planning retreat with your core team is a great way to start the process – find a spot offsite to get the creative juices flowing and set an agenda.

2. Key elements of an effective strategy

The key elements in a good strategy normally incorporate:

  • Vision – this is a statement that identifies what a company would like to achieve or accomplish.
  • Values – these are the fundamental beliefs upon which your business and its behaviour are based. They are the guiding principles that your business uses to manage its internal affairs as well as its relationship with customers.
  • Objectives – short term, long term. These should be SMART (specific, measurable, achievable, realistic and timebound).
  • KPIs – stands for Key Performance Indicators. These are measurable values that demonstrate how effectively a company is achieving key business objectives.
  • Actions – what needs to be done to meet the objectives? Make this simple and clear.
  • Owners – delegating tasks to specific owners to ensure follow through and accountability.
  • Deadlines – when your actions will be complete to ensure you make progress.

It doesn’t need to be much more complicated than that, but do invest the time and effort in doing this right. A proactive, value-add strategic model will need fresh thinking, debate, research, and open conversations. Enjoy and embrace the process and you should end up with a good outcome.

Great planning requires a guide, facilitator, and/or professional expertise to be as robust as possible. We can help your business and guide you through the steps.

Putting strategy at the heart of your business activity should not only give your business greater direction and focus but lead to stimulating, profitable opportunities too. It’s time to get started!

Acro Accounting & Financial Planning (AAFP) offers a one stop solution right from accounting, taxation, financial planning to other business advisory services. As Certified Practicing Accountants (CPA’s) and professional tax advisors, we pride ourselves on being experts with the latest developments relating to business and taxation. We as professional public practice firm, provide high quality taxation and business advice to our clients through a personalised service at competitive rates.

Related Articles

Upsizing or downsizing? We can help with the forecasting
Are you looking to either scale up or downsize, your business? We’ll help you review your existing business plan, run scenarios and forecasts, and look at the most appropriate strategy for your future. #businessadvice
Should I focus on profits or cashflow?
Worried about your cashflow and the profitability of your business? Come and talk to us. We’ll review your finances and will highlight key ways to improve your cash position while keeping the profits rolling in. #businessadvice #cashflow
Employees Leaving? Here’s What You Need to Know About Final Payments
Most small businesses in Australia employ people. One of the most common payroll errors is incorrect processing of termination payments when employees leave.
Changes to Company Tax Rates – Less Tax?
Company tax rates are reducing for some businesses – is yours one of them? Tax planning now can help you plan ahead for your tax liability and create effective tax minimisation strategies. Get in contact to start your 2021 tax planning today.

Take the first step to grow your business

We work with you and provide ongoing help and support with regards to financial and tax matters and to ensure you realise your goals as you move throughout your personal and professional life.

CONTACT US

Portal Office Park Unit 5A, 2994 Logan Rd

Cnr Lexington Rd, Underwood QLD 4119

P.O. Box 1147, Springwood QLD 4127

Mon-Fri, 8am-5pm

Sat, 8am-12pm

DISCLAIMERS

Legal Advice Disclaimer

The information on this website is of a general nature only and has been prepared without taking into account your particular objectives, financial situation or needs.


Before selecting any product or service or acting on any advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs.


If any information in this publication relates to a particular product or service, you should obtain any relevant disclosure statement for that product or service before making a decision about whether to acquire the product or service.

Liability limited by a scheme approved under Professional Standards Legislations.

Corporate Authorisation Representative

Mohammed Saheed (308525) and Acro Financial Services Pty Ltd t/a Acro Wealth Management (1246594) are Authorised Representative of Lifespan Financial Planning Pty Ltd ABN 23 065 921 735, AFSL No. 229892, ACL No. 229892, Level 23, 25 Bligh Street, SYDNEY NSW 2000.

© 2021 Acro Accounting & Financial Planning

Pin It on Pinterest

Share This