Consider data, case studies, and trends. Think of strategy as an ongoing process. Take advantage of advice from peer-to-peer counseling groups, individual executive advice, industry networks, exclusive events, and more. Listen to the most downloaded B2B sales podcast in the world.
The first step in the strategic planning process is to define a vision for the company. This vision must be ambitious and inspiring, yet realistic and achievable. It must also be aligned with the company's core values. Once the vision has been defined, it must be communicated to all members of the organization and also be a guide in daily decisions.
Since many companies without a strategy are more concerned with daily work without a big objective or plan, this can have long-term consequences on the success of their businesses. However, without a clear vision, a mission, an evaluation of the status quo and comprehensive objectives, it will be a challenge to create a successful strategy. Participating in strategy discussions can sometimes be confusing, because most companies have a variety of different strategies, rather than just one business strategy. You will find details and concrete measures on how to achieve broader business objectives within lower-level strategies, such as financial, operational or marketing strategy.
It's much easier to understand the notion of business strategy when you consider each strategy as part of a strategic framework.