Everyone has been talking about how this pause has given them time to re-evaluate what is important – personally and professionally. Home, work, play, schedules, business practices…they are all under review. So, what about your business’s foundation?
1: lower portion of a building structure that transfers its gravity loads to the earth
2: a basis (such as a tenet, principle, or axiom) upon which something stands or is supported
Like buildings, the strength of a business lies in its support structure(s). Most, have not taken the time to check their original foundation – or in this case, strategy documents – in a long time. Given how everyone is in re-evaluation mode, it begs the question…
When was the last time your company’s foundation was checked?
A good brand (business) strategy should be written to allow for evolution over time. Having said that, it is important to periodically review those strategic documents. This ensures the original mission, vision and value statements that are guiding the company, and its practices, are still in alignment with current goals and plans. If the foundation has shifted or even begun to crack, it must be caught now before irreparable damage occurs; by affecting business objectives, communication strategies and more. Target audiences will easily key into the fact that the business is disingenuous and practices vs. communications are not consistent.
A set of strategic documents doesn’t exist? No time like the present! If your company is operating without the proverbial “wall to throw the spaghetti at”, there is still time to develop mission and vision statements, along with a core set of values and other objectives from which to build or reinforce your foundation. These things combined will give you a solid jumping off point for the organization’s business plan, marketing plan and communication strategy, and set you up for success moving into the future.
Whether you have a current strategy that needs to be evaluated and re-positioned, or none has been formalized, you and your company should be leveraging the time now to determine what is best for later.
Stay tuned for more from TCS next month!
Sarah Heximer, Owner & Chief Visionary Officer