Business strategy is arguably the most overused phrase in the business world. Business coaches, high-ranking executives, and startup founders are always fond of using the phrase. They often use the term to impress their audience. And most people love listening to topics that center around business strategy. However, developing a workable and effective strategy for your business isn’t as easy as it sounds. It requires a level of creative thinking and assertiveness. So, in this article, you will learn 6 military principles every entrepreneur should apply to their strategies.
No entrepreneur can be successful without a well-defined strategy. It’s what differentiates you from the crowd and helps you capture a fair share of the market. And that’s why it’s only 20% of businesses that capture 80% of every industry.
However, dominating in your niche or industry is like a military war front. It involves a clash of interests and requires you to do things differently every time.
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Just like a war front, you don’t give up in business because your strategy fails. You have to restrategize and keep pushing. That’s the spirit of entrepreneurship. So, here are 6 military principles every entrepreneur should apply to their strategies;
#1. The Principle of Objective
The principle of objective states that every action must have a well-defined and actionable goal. In other words, every effective strategy should have a clear goal to achieve.
The principle of objective may seem simple, but it’s what determines the effectiveness of any strategy you want to implement for your business.
The 20% of businesses that control 80% of every niche don’t achieve such milestones by accident. They create actionable and goal-oriented strategies that help to drive their business and make them leaders in their niche.
If you spend more time defining a clear goal for your company and employees, you tend to perform better than your competitors in any niche.
That’s because every member of your team would have a defined role that’s tailored towards achieving the company’s goal. And this will help you operate your business more efficiently and effectively.
#2. The Principle of Offensive
The principle of offensive is one of the military principles every entrepreneur should apply to their strategies. The offensive principle describes running a business like fighting a war. And to survive, you need to be offensive with your business strategies.
For instance, if you are in a highly competitive niche like technology, you need to come up with a series of strategies that would help you distinguished your brand from other players in the industry.
You can’t move up the success ladder if you aren’t challenging your competitors and winning the battles. If you don’t take challenges head-on with offensive strategies, it would be difficult to create your own space in a challenging market.
Ideally, you don’t win battles with offensive strategies. But you use these strategies for survival when the competition is too intense for you.
So, before you go on the offensive, try to identify your competitors’ strengths and weaknesses. Once you know your competitors’ weaknesses, launch new products and services, and come up with creative ways to reach your target audience and build a relationship with them.
#3. The Principle of Mass
The principle of Mass is one of the best military principles every entrepreneur should apply to their strategies. The principle states that for you to win a battle, you must concentrate your combat power at the right place and time.
In business, the principle of Mass means you should always wait for that decisive moment before taking advantage of an opportunity.
You don’t just throw your resources around. Analyze the viability of the opportunity before you concentrate your resources to capture your desired market share.
#4. The Principle of Maneuver
The principle of maneuver centers around flexibility. If you want to serve your audience better, you must be flexible in your approach. Being customer-centric requires you to come up with innovative and creative strategies that you can easily adapt to different situations.
Regardless of the competition and odds in the market, it’s important to constantly search for simpler, cheaper, and faster ways to serve your customers, increase sales, and get higher returns on your investment.
If you don’t apply the principle of maneuver as an entrepreneur, you tend to stagnate. And when this happens, your business may not survive for long.
But if you master the art of maneuver, your business will enjoy long-term sustainable growth.
#5. The Principle of Surprise
The principle of surprise is also one of the military principles every entrepreneur should apply to their strategies. This principle states that you can always predict some of the mistakes and challenges that could affect your business growth.
So, when developing your business strategy, always factor in the mistakes that could happen, and the unplanned circumstances that you may face. Work out strategies to help forestall such mistakes and challenges.
So, you should always make the effort to develop a competitive advantage with your products/services, marketing strategies, sales strategies, processes, and don’t hesitate to adopt new technology when it’s necessary.
#6. Principle of Security
The principle of security is not only applicable in business, you can apply it in every aspect of your life.
As an entrepreneur, it’s important to protect your business’s valuable assets and resources. Don’t forget that you are operating in a highly competitive environment. And your competitors won’t hesitate to exploit your vulnerabilities to their advantage.
These are the 6 military principles every entrepreneur should apply to their strategies. By taking advantage of these principles, you can easily drive your business growth and capture a fair share of the market.