Strategy is the vehicle of business. It drives organisations to achieve their goals and objectives, which in turn help them achieve their set mission and vision. The strategy process involves choosing which customers to serve, what technologies to apply, what organisational identity to assume, and how to position the company against competitors.
In the previous article, Looking for ways to finance your business, I stated that finance is the engine of business. We cannot talk about finances without a strategy. Financial Strategies involve the assessment of an organisational financial needs, resources required to support and meet its objectives to fulfill its organisation's goals, and the plan for continuous growth that enables the business to succeed and be sustainable. Therefore, you can realize that finance and strategy work together for a company to reach its overarching objectives. A vehicle cannot move without an engine. Emmanuel Faber, CEO at Danone, put it nicely when he said,
“Finance without strategy is just numbers, and strategy without finance is just dreaming.”
Dealing with business finances is not a walk in the park. It requires a strategy to get it right. As an entrepreneur, it is crucial to build a winning financial strategy. These will help you navigate the ever-changing business environment and help you deliver your solution, and reach your financial and overall business goals. In this era where the odds against business success are fazing, it is essential to have the knowledge and skills to help you build strategies that will enable you to gain a competitive advantage over your rivals and gain a larger market share. You probably have many questions like how much money you should raise, when, and from whom. You are wondering how do you maintain a positive cash flow. Wonder no more because our upcoming online finance courses will address all of your questions. We will share details of when the online courses will be available on our website soon. Cheers!
Read more about strategy and how you can stay ahead of your competition below.
How to Define a growth strategy
Create your business relaunch strategy
Strategy for Startups
Six common strategy traps and winning strategy signs
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