Developing Skills in Business Strategy

A business strategy is an organization’s alignment of its various initiatives and goals to gain a competitive advantage. Unlike a corporate strategy, which is focused on determining which industries a company should operate in, a business strategy is different. A company’s business strategy is different from a corporate strategy in that it focuses on how it can achieve its goals and objectives while entering a new market. These are some essential skills to focus on to improve your business strategy.

Focus on Value for Customers

It’s common for companies to charge the highest price possible to their customers. This strategy is justified if the customers are willing to pay higher costs. However, it doesn’t create value. Leaders must increase the gap between the price of their products and the value they offer their customers. They can do so by developing a strategy that focuses on this issue or implementing it in their operations.

One strategy that leaders can consider is to offer a lower price than their customers are willing to pay. This will allow them to capture a segment of their customers who are already unwilling to pay higher costs. However, this strategy is not as simple as just reducing the price. They must understand their customers’ demographics and values to make effective decisions.

Understanding the various characteristics of a customer is very important to making informed decisions. This can be done by asking customers about their needs and goals. Other factors, such as brand recognition and legality, can also affect a customer’s decision to pick one company over another. Regardless of the price, these factors can influence a customer’s decision.

Don’t Neglect Employees

Employee turnover is one of the most common factors affecting a company’s profitability. According to a 2019 Gallup study, replacing a single employee can cost a company up to two times its salary. Implementing a comprehensive employee satisfaction program can help prevent this type of turnover. For instance, managers can create value for their employees by increasing the gap between employees’ compensation and the minimum wage.

One of the most effective ways to create value for employees and customers is by increasing compensation.  If salary cannot be increased, offer better working conditions to encourage employees to take the lowest possible wage. These factors can help boost employee satisfaction and decrease the gap between employees’ compensation and the minimum wage. Before implementing a comprehensive employee satisfaction program, the company must have a clear understanding of the value that its employees are looking for.

Developing these skills can take a lot of time and effort. Understanding the competitive landscape is also essential to ensure that the company has the skills to succeed.

These skills are not only for top-level managers and executives. They are also crucial for anyone who wants to be a successful business leader.

One of the most effective ways to develop these skills is by taking an online course on business strategy. This course can help you understand the various aspects of a company’s strategy. It can also help you engage in meaningful conversations and recognize opportunities that can help strengthen the company’s competitive advantage.




Originally published at


Top Funding Sources for Female-Led Startups

As of the most recent stats, women-led businesses are now up to 12.3 million in the United States. They are responsible for generating over $1.4 trillion in sales and employ 7.9 million people. Yet even in 2022, funding for women business owners can be hard to come by. This isn’t because women aren’t making an impact in the small business landscape.

Unfortunately, despite the numerous advantages that women have over men in the small business world, they are still often denied loans by banks and investors, often due to gender bias. While this can be disheartening, there are still great ways female entrepreneurs can find the funding they need for their businesses. 


Women can find great success through crowdfunding, a finance strategy that involves taking advantage of various sources as opposed to a singular lender. Unlike traditional methods of funding, this method allows individuals and businesses to utilize multiple options to receive the funding they need, meaning they’re less likely to be boxed in. There are no restrictions on who can participate in a campaign, meaning female entrepreneurs can reach out to friends, family, and pretty much anyone else who is interested in supporting a brand new business.

Grants For Women

For women entrepreneurs, Grants For Women is a great resource that provides a list of grants that are available to help them start or grow their businesses. It’s simple to use and features an informative directory that includes local and national grants. The site constantly updates its list of funding options as well, so it’s good to keep your eye on it to see if new potential grants pop up that could help your business get started.

Tory Burch Foundation

The Tory Burch Foundation was founded to support women’s empowerment. Through their grants, they have been able to provide over $100,000 in funding to various organizations. They also provide connections to other successful female entrepreneurs that can share their advice and knowledge with those looking to get into the business world. Some of the requirements that the foundation has for its grant recipients include having a for-profit business that’s socially conscious.

Small Business Administration

The Small Business Administration has been a great source of funding for women-owned businesses for a long time. Through its various programs, the agency can provide loans and other financial support to women-owned enterprises. It also offers a variety of services and resources to help them get started, such as helping them get federal contracting opportunities.

This article was originally published on

3 Business Principles Every Entrepreneur Should Understand

Being an entrepreneur can be very fulfilling, but it’s also extremely challenging. Unfortunately not every business ends up being successful, whether it’s due to the people in charge, or the current climate of the world. Some businesses are ahead of their time while others just don’t know what they want to be. While this can sometimes seem demoralizing, the fact of the matter is that these things will happen no matter what and instead of giving up, entrepreneurs need to be able to regroup and keep fighting. To do this, there are a few business principles entrepreneurs should think about if they want to be successful.

You’re Never Done Learning

Studies have shown that learning can have a positive impact on a variety of areas of our lives. One of the most important factors that entrepreneurs should consider when it comes to starting a new business is learning about the offerings of their competitors. This will allow them to make an informed decision when it comes to their product or service.

To truly stand out from the crowd, it’s important that entrepreneurs thoroughly study the market to identify areas of potential opportunity. Then, they use this knowledge to create their own unique offering. And remember that you must always learn, as the business world is constantly changing.

Build The Right Team

Your employees are the most important asset that you have when it comes to building a successful business. They can help you develop and implement your strategy, and they can also be the cause of your downfall. You need to be sure that you’re recruiting people who will not only work hard to achieve your business goals but who are passionate about the mission you’ve set out on, whether that’s selling a product or trying to improve people’s lives. This is especially important in the early days of a business, when it may seem like you have to work extra hard. You’ll need people in your back corner, otherwise you’re likely to burn out.

Visualize The Future

Take the time to visualize the future of your company, as well as the various products and services that you’re planning on launching. Doing so can help break down goals into more achievable projects that are easier to reach. This can be as simple as committing to action. According to a survey, over two out of three small business owners believe that visualization can help them map out their plans for the future.

This article was originally published on

Key Community Economic Development Strategies

The goal of Community Economic Development (CED) is to improve the quality of life in communities by developing and managing affordable housing, attracting investments, and creating jobs.

Through community economic development, local governments and private sector organizations can address the needs of communities by developing projects that are designed to address various economic problems, such as unemployment and lack of affordable housing. These projects are then implemented by boards composed of community members. In this blog, we’ll talk a little about some of the key strategies used to push Community Economic Development.

Real Estate

When discussing CED, many people typically equate “real estate” to only affordable housing, but it actually covers a much bigger umbrella. Aside from affordable housing, various types of real estate projects are often considered for community economic development such as retail, mixed-use, industrial, and community service projects. They all share the common goal of creating a community asset that can be used to address a specific need. When discussing CED, many people typically equate “real estate” to only affordable housing, but it actually covers a much bigger umbrella.

While there’s a lot of affordable housing that local nonprofit organizations can provide, they also have a lot of other real estate to develop. According to a study, over 1.6 million units of housing have been created by nonprofits in the last 12 years. That same study also reported that over 21 million square feet of industrial and commercial space were developed by local nonprofit organizations from 2005 to 2008.

Business Development

Another important strategy of CED includes business development, which typically involves creating or supporting small businesses. This often comes in the form of lending finances to local entrepreneurs in order to form or expand a business, or sometimes providing more technical help. These businesses can provide a variety of services and employment opportunities to the community. Developing local businesses not only helps CED thrive, but it puts the power back into the hands of the citizens, allowing them to support one another and not be stuck at the mercy of larger corporations

Financial Services

Finally, we have the last strategy, financial services. Financial services are extremely important, as the other two strategies can be difficult to implement without some sort of capital. These financial services often include providing loans in order to invest in the communities future via the other two strategies, real estate, and business development. Aside from lending out finances in order to help build businesses and the like, financial services can also include helping individuals or groups purchase or improve their homes, as well as carrying out financial literacy programs so members of the community can ultimately make better financial decisions.

This article was originally published on