Brian Tracy

Business Strategy (The Brian Tracy Success Library)

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Aditya Dwivedihas quoted2 months ago
ASSESS YOUR CURRENT SITUATION
Aditya Dwivedihas quoted2 months ago
There are five key questions that you can ask and answer over and over in strategic planning. Follow this process.
Aditya Dwivedihas quoted2 months ago
Five Questions to Ask and Answer
Aditya Dwivedihas quoted2 months ago
Strategic planning is the process of thinking through the action steps that you are going to take to achieve your goals and objectives.
Aditya Dwivedihas quoted2 months ago
There are four basic reasons why you set strategy for your business:

1. To increase your return on equity. It is to earn more money on the equity, or the amount of money that you have invested in your business. Equity represents ownership. It is different from return on investment (ROI) in that it represents out-of-pocket funds. The first goal of strategy, then, is to increase the amount of money you are earning on the resources that you and others have personally invested in the enterprise.

2. To reposition your company. You may find that your company and your products or services are under assault from your competitors. You may find, as Apple did, that you have to reposition your company with new products and new services in new markets with new technologies.

3. To maximize your strengths and your opportunities. Look at what it is that you do extremely well, and what your key opportunities are in the marketplace, and then move rapidly to take advantage of them.

4. To form a basis for making action decisions now. The whole purpose of strategy is to plan and prepare to take actions that are different from what you might have done in the absence of your new strategy
Aditya Dwivedihas quoted2 months ago
When you get a market advantage with a superior product, service, or marketing technique, you exploit it to the fullest. You know that your competitors can copy you faster today than ever before or will do something to undermine your advantage. You cannot hesitate. You must press forward and take as much of the market as you can, while you can.
Aditya Dwivedihas quoted2 months ago
The Principle of Exploitation
Aditya Dwivedihas quoted2 months ago
In business, the principle of surprise means that you are always looking for ways to develop competitive advantage with products, services, processes, marketing strategies and techniques, sales methodology, and new technology to offer products and services that are new and different from anything that your competitors are offering.
Aditya Dwivedihas quoted2 months ago
The Principle of Surprise
Aditya Dwivedihas quoted2 months ago
They see themselves as part of a corporate team. They use words such as “my,” “us,” “we,” and “our.” They see the company as a natural and logical extension of themselves. They never even think “that’s not my job.”
Aditya Dwivedihas quoted2 months ago
In business, the best companies have the people with the best morale.
Aditya Dwivedihas quoted2 months ago
The Principle of Concerted Action
Aditya Dwivedihas quoted2 months ago
The principle of maneuver applied to business refers to innovation and creativity in finding better, faster, cheaper ways to serve customers, make sales, and achieve higher levels of profitability. To maintain this kind of flexibility in business, you must always be willing to stand back and question the status quo.
Aditya Dwivedihas quoted2 months ago
The Principle of Maneuver
Aditya Dwivedihas quoted2 months ago
In business, the principle of the mass requires that you become absolutely excellent in one product niche, and dominate that niche in terms of quality and service, before you think of expanding into other products, services, or markets.
Aditya Dwivedihas quoted2 months ago
The Principle of the Mass
Aditya Dwivedihas quoted2 months ago
The Principle of the Offensive
Aditya Dwivedihas quoted2 months ago
You must be continually moving forward with new products, new services, new processes, and new ways of doing business.
Aditya Dwivedihas quoted2 months ago
What they concluded was that the most efficient, effective, and profitable companies were those that took the time to set clear objectives for the company and for each person in the company. Employees knew exactly what they were expected to accomplish and when it was expected to be done. They had clear measures or benchmarks against which they could grade their progress toward the agreed-on goals.
Aditya Dwivedihas quoted2 months ago
The Principle of the Objective

This is the first principle of strategy. To achieve great victories, you must be clear about your goals and objectives at every level of the business. This requires that you know exactly what it is that you want to accomplish and how you are going to go about accomplishing it.
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