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3 Essential Elements Your Business Strategy May Be Missing

As a business leader, you understand the value of creating a well-planned business strategy that outlines your company’s short-term and long-term goals. Without an established business strategy, it’s difficult to build a solid foundation for your business to grow. If you haven’t taken the time to create your business strategy yet, or if it’s been a while since you evaluated your current one, here are three essential elements to include:

Positioning statement

Most of us have heard the term “positioning statement,” but not everyone knows what this phrase means, and how important it is for long-term business success. Put simply, a positioning statement is a one or two sentence statement that defines how a brand’s product or service satisfies a consumer need and provides unique value. While a positioning statement is used for internal purposes only, it is a helpful way for leaders and employees to understand the brand and how it is differentiated from its competitors.

Marketing and promotion plan

Every brand depends on marketing, but all too often, business leaders fail to include a clear, consistent marketing plan when creating their business strategy. Although your marketing plan should evolve over the course of a year, there is merit in creating a basic outline of marketing efforts that you can use to promote your business to your intended audience.

Vision for future growth

Finally, it’s essential for businesses to develop a vision for future growth. A strong vision helps business leaders and employees maintain their focus on day-to-day operations and pave the way for future success. Start by envisioning where your business could be in the next three years. Then, narrow your vision down to specific, achievable goals.

One way to prepare for future growth is by engaging in strategic outsourcing. This involves partnering with a third-party expert to manage routine daily tasks such as assembly work, kitting services, packaging, or fulfillment that in-house employees would normally complete. Outsourcing experts such as Ohio Valley Goodwill specialize in these services, helping local businesses leaders save valuable time and reduce overhead costs so they can focus on growing their firms.

At Ohio Valley Goodwill, our innovative approach to outsourcing is driven by our social mission to put people to work in the local community. Businesses which work with Ohio Valley Goodwill support our mission to provide job training and meaningful employment opportunities to individuals with disabilities. As a result, contracting with Goodwill is not only the process of outsourcing; it’s a partnership that impacts all of Greater Cincinnati. When you outsource with Ohio Valley Goodwill, you get more than an efficient and economical partner for your contract labor needs—you get the joy of knowing your business is reinvesting in the community and changing lives through the power of work! To learn more, see what some of our satisfied partners have said about outsourcing with Ohio Valley Goodwill.

Outsource with Goodwill and see what we can do for your business today! Contact our business development professionals to learn about our outsourcing services and take a free tour of our facilities. We’d be delighted to speak with you about your business needs.

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