Entrepreneurship: how to set a business strategy

“A strategy is something like, an innovative new product; globalization, taking your products around the world; be the low-cost producer. A strategy is something you can touch; you can motivate people with; be number one and number two in every business. You can energize people around the message.” Jack Welch

Today, we are experiencing a transition in the economic model, this change of era push every entrepreneur to establish a new business strategy that will allow him to make more money. The rise of information technology has empowered the position of costumers, they insist on having specific products with high quality and low prices.

A business strategy have to satisfy the costumers in the present and anticipate their needs on the future. In the new framework, you have to preform differently than rivals, you have to bring new ideas to your business. Creativity help a business to cope with new problems, it could be anything from improving a process, developing a new product, discovering a new market, or designing a marketing program to stay ahead of competition. The human being is talented with the ability to ideate, to imagine and create extraordinary solutions, he just need to be motivated and convinced of his work. Therefore, the biggest challenge that an entrepreneur must face is the implement of a platform that promotes creativity. To ensure that you should focus on two things:

Technology

The world witness a big evolution in technology and telecommunication, we can gain access easily to information and with cloud computing – things get better – you can take benefit from all the new technology without having a deep knowledge about it. This huge flow of data must be used to expand your network, discover new horizons and create new ideas. If you want to make something special, you must study the existing, which make investing in technology a necessity for sustaining a competitive position in the market.

Passion

When you are in love with your business, beautiful thoughts will cross your mind; one of those thoughts can be the next big idea in your market. Most people who are not passionate about their jobs fall down to routine; they do not get involved in the process of creation and they do not use their full potentials. A smart entrepreneur have to share his dreams with his staff and he need to pick those who believe in his business. Passion will help you (and your staff) not only to generate consistently new ideas but also to devote yourself to sustain the growth of your business.  

“Passion is one great force that unleashes creativity, because if you are passionate about something, then you're more willing to take risks.”

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