Do You Need A Strategy For Your Home Business?

| Total Words: 406

Strategy is something for the big corporations. Why all this talk about mission, vision, long term goals? Many companies do not have any strategy or they are just in the head of a few people within the company. So if that is the case, does a Home Business owner really need a strategy? To answer this question lets first define what strategy is.

When thinking about strategy think about terms like long term plans and goals. A strategy guides you to a certain aspiration. These do not need to be defined in monetary values. Actually, the mission of a company is rather a short and inspiring description of what it should aim for. When a company knows in which direction it is headed for, the goals are formulated and the strategy turns long term measurable goals into short term goals.

A strategy has many functions. It is used as a form of communication and it gives the company a direction. Without it decisions are made ad hoc and without any purpose in mind other than short term goals.

Having defined what a strategy is does a one-man Home Business really need a strategy? Definitely it has no real value to have a thick book describing the whole strategy of the...

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