In early 2000, most of the companies dramatically expanded their business and invested millions of money. Approximately 10 years of this race, most of them are stag like a turtle. Experts and data say long time stagnant is a preliminary symptom of business wipe-out. After a long-time stagnant, very potential companies were going to a negative trend even some of them were flown from the market. Only a few were not stag, they have been growing consistently. In business, opportunities are like a main-meal, and picking the opportunity at the right time is a sign of business growth. But the key tool is actions. But the key tool is the actions, you take after picking the right opportunity. Sustainable growth depends on the fast and steady action of your strategies. If you look at the companies like Apple, Tesla, Bitcoin & Motorola the picture will appear.

Look Motorola (Motorola Mobility LLC). They invested billions & boosted the market by ATL & BTL. Gain customer concentration quickly than they thought. When any new opportunity came, they perfectly picked those and designed their strategy and then entered the market with the slow process because of fear of unsuccessful or insufficient resources (On the other hand, competitors like Apple & Samsung didn’t do that way, they implemented fast as much as possible. Competitors gained their share and snatched the market).  After doing this Motorola’s customers feel “backdated” and lost their confidence in that company, they started to believe the competitors. Motorola lost its market share drastically. The company was sold to Google then Lenovo. They are still in trouble because Motorola didn’t perfectly use the opportunity & didn’t implement their strategy so fast as the global market trend.

Look Tesla (Tesla, Inc). When they fast start their promotion, everyone thought they will not sustain in long-time because of their low coverage just in few states of the USA. But when the new opportunity comes, they picked it & jump to implement their strategy as much as fast & they perfectly created real value propositions (Tesla Solar City, Sports electric vehicle & LI-Battery). Even when a simple and negligible opportunity came (Tesla Solar City) they implement it with high concentration. Sales employees & customers have gradually become loyal & they started advocating product features to their friends & family. After two decades Tesla is now the top valuable company in the entire world.

Fast and steady action’s prerequisite is perfectly picking the right opportunity. If you take the wrong opportunity, both your time & money will be wasted. Here I have figured out how you will effectively pick the right opportunity in a short time.

5 steps to picking the right opportunity

1. Is this opportunity really create customer value proposition: Many opportunities come but all are not creating impacts on customer life quality. It may very beneficial for your company. If the opportunity does not create customer value proposition, it will not ensure sustainable growth. First, check “the opportunity will create value proposition or not?”.
2. Check the feasibility: When you see there is an opportunity, check “is it feasible with your company’s facility & your capabilities”. If not feasible, then calculate the expense to build the facility and the opportunity’s return. If it is feasible above 70% with your company then go for it.
3. Do the effective groundwork: To validate the opportunities, you have to do some groundwork. Make a story regarding the opportunities and tell it to your peers or randomly selected target customers. Listen to their reaction & comments on your story. It will be very helpful to choose the right opportunities.
4. Talk to the experts: Experts can tell you which possible trouble you will face if you take the opportunity, they also advise you to “how to overcome the trouble”.
5. Launch the pilot batch: Launching a pilot batch is the final step of opportunities picking. It’s not part of opportunity implementation. When the targeted opportunity will meet the previous steps & you think it will hit the target market, launch your pilot batch.

We all know strategy formulation is very important for success, but fast and steady implementation is more important. These 5 principles tell you how to implement your strategy fast & steady.

5 principles to implement strategy fast & steady

1. More focus on product development: Good product or good service ensures the quality of your business. Product development is very important to create brand equity. If your product is good enough, you will gain a reputation or excellent feedback from your customers.
2. Minimum strategy maximum implementation: Don’t make the time-consuming complicated strategy. Based on your capabilities make a simple & easily executable strategy, that strategy can create values.
3. Focus on value proposition: Value proposition means how your product or service impacts your customer’s life. When you make your strategy & implement your strategy on the basis of customer value proposition, your strategy implementation success will be very high.
4. Prioritize your thinking: At first, no one knows what will be happened. Don’t think all your observations are right. The data-driven decisions may unimpactful. Previous data may be wrong for the present or future. So, think deeply about your product and value proposition. Prioritize “what your brain says” & design your whole work.
5. Directly work with co-workers: Product Development team, Marketing Team & Sales Team are directly involved in product success. When you work with these teams you will easily sort out where you have to change for fast action.

This is not a blueprint for steady and fast implementation of your strategy, these guidelines are for steady and fast implementation of a strategy to ensure sustainable growth. Maintaining these guidelines’ core messages, you can customize them to suit your business.