When you say strategy to many business owners, they envision something that only a large corporations need and have. Nothing could be further from the truth. Smaller businesses need strategy as well. Strategy is documenting what is required to take you from where you are today to where you want to be. It is the story of the future of your business. The story will change as your business grows. Smaller businesses benefit more as they can change more easily and quickly than larger ones, but to change you have to have defined where you need to go.
You cannot develop a business plan for your business if you have not defined a detailed business strategy. Your business strategy covers every area of your business and outlines where you are today and what you need to do in your business to get to the future state.
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