Most successful entrepreneurs know that business is war. If you are yet to understand that the business terrain is a war zone, then you are in the wrong profession. It is a war zone where you will be competing with host of others who are in the same industry. Some are there to suffocate your business and some are there to kill it completely. If you are yet to have an enemy—competition—in your industry, then be ready for they will appear soon.
So, if you are in business, you must see yourself as a warlord in a battle. Warlords are ordinary men fashioned or carved into warriors from childhood. They are trained to confront battles. And no warlord goes to battle without the right strategy. Whether you are prepared for the battle or not, you should know that you can’t win a business battle without a strategy.
In business, what will differentiate you from your competition is your strategy; your business playbook. Just what is a business playbook? Some call it the standard operating procedures for your business. I prefer to call it the business playbook. A playbook shows detailed plan, dynamic approach and strategy of how you intend to position your business to capture your market share. It is like your edge over your competition. It is your right strategy for the battles you will confront in the business terrain. It will differentiate you from the crowd.
The next question to ask should be: how do you create your own business playbook? The truth is: No two businesses operate with the same playbook. There is nothing wrong with peeping into a successful business playbook, but yours still need to be unique to your own business and your business terrain.
To create your business playbook, first you must define the vision of your business. What kind of business do you intend to create? This must centered on what makes your business unique in your industry. Secondly, you must define your target audience and the strategy of how to reach them. Thirdly, you need to determine the team that will work with you to achieve your business goal. And then you need to plan your sustainability and exit strategy. All these and many more will perfectly fit into your playbook.
Alfred Ade-Ijimakinwa, the founder of BusinessIQ magazine. He is a Business Development Consultant with over a decade of experience. He is the business management facilitator for Simplinteriors School of Entrepreneurship and a regular contributor to Business Day National Newspaper.