Developing Long-Term Strategies
With a business as complicated as PEO, it only makes sense to define long-term goals, formulate a strategy, allocate resources, and execute the strategy. This makes sense in any business, but it’s all the more crucial when your business has a lot of moving parts, handles risk, and has slim margins—margins for profit and margins for error.
Every long-term strategy should begin with a foundation, something on which to build. However, don’t start building until you identify your priorities and define your direction. Articulate your guiding principles and purpose. Who uses your products and services? What is your brand promise? What are your strengths and weaknesses? Answering these questions will help you set long-term goals and execute your strategy.