Is Business Strategy Crucial to Business Growth ?

We have a client who is in IT related business. My client, Brian has faced the bottle neck to increase his business revenue. He has maintained his business for 15 million/year for the last 3 years without any breakthrough. Remember, he is in a highly competitive & growing IT business environment.

After our business consulting analysis, we have discovered as per below :

  • This is a New IT Technology being introduced to the market for the last 3 years with a business projection of more than RM320 million of market opportunities for the next 3 years. 
  • They have strong connection with the Government related business.
  • They have strong Business Parts that always put them at the first choice for recommendation.
  • They hold an IT brand that well-recognized in the current market.

With the above Business Strengths, how could their business stagnant for the last 3 years ? This has really caught our interest to explore further.

With this, we have conducted a very thorough SWOT analysis, and advise our client to conduct the below :

  • To determine the Business Positioning by narrowing down to the niche Segment Market that they have Business Strength in.
  • To plot the Business Strategy to focus Company’s Resources into “High Business Growth” area with “Lucrative Profit Margin”.
  • To convert the Business Strategy into Key Performance Indicator (KPI).
  • To monitor the Business Performance via KPI Set.

With the simple business approach used, the business revenue has shot up more than double to RM35 million by the following financial year.

After the project, we are curious that, “why could a Business Strategy make such a big difference to them ?” Mr. Brian concluded his experience that worth learning as per below :

  • The Business Strategy has driven every staff to focus on only “Value Added” effort that worth to invest in.
  • Periodical Business Performance Review via KPI has made every staff to alert of their responsibility to deliver what they have committed.
  • Everybody has pooled their effort to improve the Business Performance while they are behind of KPI target set.