2021 is the year to set up your business for success. It is also the year or collaborations and partnerships. There are some strategic factors of your business you can review to optimise your business.
There are three main parts to your business:
Key strategic elements
The inner core of the business includes all the strategic elements to your business. These are key to running your business. If you do not focus on these, your business will collapse.
Non-essential but strategic elements
The second part is all the strategic elements to your business, but not core to the company. These are the support functions for your business, but you can outsource or hire them. It is not critical that you own or do these by yourself.
Non-strategic or core
These are all the elements that are not important for your business to function. You can discard all of these and still have a fully operational enterprise.
The key strategic elements which are core to your business all costs time and budget. So when you are looking to streamline your business, keep these to essential parts only.
If something is non-essential nor strategic, you need to review these and either outsource or toss them out.
Finding strategic partners that you can use with an outsource model is the way to reduce overheads, stress and time. So you can rather spend time on the core elements of your business. The parts that make you money.
Saving time and money in your business is critical here. When you can focus on the real reasons your business exists, you can spend the time and energy on those and expand your business’s right parts.
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