7 Business Strategies that Every CEO Should Apply

7 basic business strategies

Are you a CEO of your own company but you do not see substantial results? Maybe you should start applying some basic business strategies to be more competitive and exploit your business creativity.

Here are 7 basic business strategies that you must apply to have a firm foundation:

1. Have a stable philosophy that encompasses all your business

The way in which business is carried out today has revolutionized the way companies communicate with their customers.

Simon Sinek’s Golden Circle proposes a paradigm shift that not only influences the way you communicate but how you handle business from the most essential to the most complex.

Simon Sinek's Golden Circle

Let’s follow the example of Apple:

WHY: In everything we do we believe in a change of status quo, in doing things differently.

HOW: The way to change the world is to make products with a minimalist design, elegant, beautiful and easy to use.

WHAT: We make great technological devices; do you want to buy one?

2. Get more customers without neglecting those you already have

Companies should focus their efforts to attract more customers and sell more every day on a regular basis. The problem as always is that it is easier said than done.

HOW TO ACHIEVE IT?

  • Offer a solution.

  • Personalize your offer.

  • Have a quick solution.

  • Communicate with your customers.

  • Reward the most loyal customers.

  • Make it fun.

3. Encourage a culture of innovation

Create more than just new products. The culture of innovation in your company has to do with new management, marketing ideas, design and everything that your target audience can contribute to your thinking.

4. Develop a non-invasive marketing strategy and be innovative.

Some methods of traditional marketing continue to be effective but just for some types of business.

How to achieve it?

  • Do not look for the customer, attract them.

  • Offer something useful.

  • Discover what stage of the purchase decision you are in and better tailor your message.

  • Never let them forget their shopping experience with you.

  • Customize everything you do.

  • Include special promotions.

5. Use the help of technology to effectively manage your business

Take advantage of new technologies is not just about buying the newest technology available but adapting to the strategies of any digital channel and any tool that allows you to run your business in a much simpler way.

CRM, ERP, accounting or billing solutions are just a few tools that can help you run your business effectively. However it is not the tool itself that helps you improve management but the way you use your information.

6. Use the new “employee branding”

One of the new disadvantages of many companies is the high turnover of staff. Today’s employees are not just satisfied by their salary and awards. You must offer them more satisfaction, growth and possibilities for improvement in every way from their relationship with you.

Every company should take the task of creating an exceptional work environment and publishing it on all social networks to attract new talent; a process called “employee branding”.

HOW TO ACHIEVE IT:

  • Offer professional development opportunities

  • Offer a balance between work and personal life

  • Offers additional work benefits

  • Be flexible

7. Sustainability and social sense

A quality that started as “something extra” to improve its social image has become a must for every businesses.

Being “sustainable” is no longer just a legal obligation but a requirement that both employees and consumers demand.

From our point of sales these are the 7 main business strategies that any CEO must apply in their company to have at least a chance to fight for profitability in the market.

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