There was a time when strategy was done by large corporates, and those who were at the forefront of change. Strategy however is becoming far more relevant for entrepreneurs particularly with the rapid integration of doing business globally.

 It is increasingly becoming a requirement for survival and therefore remains a fundamental component to the success of any emerging business.

Leaders of business must be looking ahead, anticipating change, and developing a strategy to proactively succeed in turbulent economic markets.

Regardless of the size of a company, a good strategy is the foundation on which all business activities can be connected and aligned. The essence of strategic planning is the establishment of a direction for the company (values, vision and goals) and a decision about how to get there (the strategy, key strategic initiatives and detailed action plans). It essentially defines how the company is going to compete – what it will do that will differentiate it from competitors in order to win new business, retain existing business and deepen customer relationships.

Many companies as well as entrepreneurs often ask themselves why some businesses are successful while others are not able to meet the same fate. The answer lies in the entrepreneurial strategies which are laid by the business owner’s right at the beginning of the business. When you are in the inception stage it is extremely important to define your business strategy and business product and prepare a business plan according to that. Look at the features that your product is offering and find out the competitive advantages. It will help you in selling your product in a more lucrative manner.

Create your brand and also a dedicated management team who will look after the growth and development of the brand. After starting with the business comes the question of the initial growth of it. With proper branding, marketing and selling you can start capturing part of the market share. The most important thing for that should be the credibility of the product. A good product will definitely hit the right chord with the customers. Once you have a set of customers, try to focus on gaining repeat customers.

You can now reinvent the features of your product and constantly strive towards making it more valuable. You can also increase the geographic and demographic coverage of your business.

Leago Equity Partners are leaders in the area of entrepreneurial strategy as well as market entry strategies and provide a tailored approach in unlocking sustainable value to entrepreneurs as well as corporates. We have a dedicated team that understands the markets in which our clients work in and create innovative solutions that are practical and work.

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