According to World Bank data referring to 2018 (the latest recorded data), many countries globally have been presenting a gradual increase in registered companies year after year. Examples are Mexico, Chile, Colombia, Costa Rica, El Salvador, Guatemala, France, Italy, the United Kingdom, Denmark, India, and Japan. This reality means that organizations and public institutions are increasingly determining in greater detail the regulatory frameworks for action, and both consumers and talent, with more alternatives to choose from, are more demanding about the products and services they buy and the companies they work for. 

This context undoubtedly presents a huge differentiation challenge for companies. It makes it even more necessary to rethink and define with more significant commitment a value strategy that helps us position ourselves in a “unique” way in the market, be the chosen ones, and find our blue ocean within the business whirlpool. This continuous challenge must become a habit incorporated in our action plan and DNA.

Here are the main ideas I came away with after reading Vistage’s article “10 steps to building a successful business strategy”:

  1. Try not to lose sight of a realistic vision in the medium term. Set tangible aspirations of where you want to take the company in a specific period to avoid losing sight of the destination. 
  2. Identify that of which you believe and how you want to differentiate yourself. Think about what makes you unique, what makes others unique, and look for an empty space in this sea of alternatives. 
  3. Establish the objectives, those ” duties” that you need to fulfill to achieve the vision you set for yourself. Organizational development and differentiation is a progressive path built step by step. 
  4. Every aspiration is outdated, and when you fulfill them, you must add the next step of growth and development; otherwise, you will lose distinctiveness and differentiation. A company that continuously learns and evolves is more likely to add value. 
  5. Uses the wealth of experience and learning to make decisions based on facts and data. Research before making decisions as knowledge is power. 
  6. If you focus only on today, you risk not adding value tomorrow. Do not lose sight of the medium and long term. 
  7. Be prepared to change fast and embrace what is coming both in terms of new technologies, consumption models, new talent, and leadership and processes. 
  8.  Evaluate, measure, and identify improvements for next time. 

In these ideas, I find a clear guide to those things that I must keep in mind in the day-to-day management of the business in any sector or industry, and I trust that they help me keep moving forward on the road to success.

by info@nakasawaresources.com