Why do we need strategy in business?

[AYIMAN]

First of all,what is the meaning of strategy?
Strategy are those things that we do to convince our customers in other to remain in business..or you can also say that strategy is a pattern.
Why then is strategy important in our businesses?
For one to remain in business,you must have a way or pattern of doing things that your competitors may not know about.you also need to know how to convince those people that are interested in your goods and services ( customers), trying to let them know that your company is the best even when you have competitors around you.

When we want to invest in any kind of business either crypto, scheme,or even personal businesses, we need  to strategize in other to remain in business and also not to run lost.

[Pablo-wood]

The aim of a strategy is to achieve a long term result regardless of where it's been implemented be it business, personal life decisions, skills, jobs etc.

First of all,what is the meaning of strategy?
Strategy are those things that we do to convince our customers in other to remain in business..or you can also say that strategy is a pattern.

This can't be a standalone definition for strategy. This is a kind of strategy called the customer retention strategy. In this approach the goal is to convince a customer and try to keep them loyal to our business and services, preventing them from switching to other competitors and maximizing life time value.

Why then is strategy important in our businesses?
For one to remain in business,you must have a way or pattern of doing things that your competitors may not know about.you also need to know how to convince those people that are interested in your goods and services ( customers), trying to let them know that your company is the best even when you have competitors around you.

When we want to invest in any kind of business either crypto, scheme,or even personal businesses, we need  to strategize in other to remain in business and also not to run lost.

Strategy is what makes businesses stand out from the crowd. The difference in quality and services between businesses and their competitors are mostly the standard they set and how the ensure those standards are maintained regardless of  economic situation.

[Samlucky O]

it would have been better if you list out those strategy that we need in other to make a profitable  business for others to learn.
it could be as follows
1] maintain a good customer relationship
2] there should be availability of goods or product to meet the demands of customers.
3] always know what your customer need.
4] you must posses a good characteristics to attract good customers, not having a bad manner of approach and expect to grow.

you must learn marketing skill to attract customers to your shop even when others have that same goods they will love to come to you all the time. and this involve being friendly, funny and jovial. proving to your customer why they need your product than others. if you have a good convincing skills, you will be able to make good sales and make profit.

[Majestic-milf]

 The importance of having a strategic plan in business no need to dey overemphasized because nah very essential role e dey play. Nah the strategy you apply for your business go determine whether your products go sell or not especially in a very competitive area nah make you dey see people dey do promo and other catchy ads so that you go dey tempted to do business with them. If you notice, in our fast paced world of business, asides from offering quality services wey be another good strategy to keep customers, the way you treat the customers also matter a lot because the saying "the customer is always right" need to dey put into consideration.
 Also, when you know wetin the public need and you cater to that need, along with your ability to give discounts where necessary e go keep them as well.

[cocadalcan]

First of all,what is the meaning of strategy?
Strategy are those things that we do to convince our customers in other to remain in business..or you can also say that strategy is a pattern.
Why then is strategy important in our businesses?
For one to remain in business,you must have a way or pattern of doing things that your competitors may not know about.you also need to know how to convince those people that are interested in your goods and services ( customers), trying to let them know that your company is the best even when you have competitors around you.

When we want to invest in any kind of business either crypto, scheme,or even personal businesses, we need  to strategize in other to remain in business and also not to run lost.

A strategy should be decided before starting an investment. Planning and implementing a strategy at the beginning of any work increases the chances of success.

For example, when you decide on a strategy for a long-term investment, what will be the source of funds for that investment and how many years the investment needs to be continued, strategy is very important in every matter.

After starting a business, the next step is to take the necessary measures to sustain it. The strategy for deciding on these issues is what kind of strategy to apply to increase the sales of a product in the business. The strategy should be decided before starting that project.

[BIT-BENDER]

First of all,what is the meaning of strategy?
Strategy are those things that we do to convince our customers in other to remain in business..or you can also say that strategy is a pattern.
Why then is strategy important in our businesses?
For one to remain in business,you must have a way or pattern of doing things that your competitors may not know about.you also need to know how to convince those people that are interested in your goods and services ( customers), trying to let them know that your company is the best even when you have competitors around you.

When we want to invest in any kind of business either crypto, scheme,or even personal businesses, we need  to strategize in other to remain in business and also not to run lost.

A strategy should be decided before starting an investment. Planning and implementing a strategy at the beginning of any work increases the chances of success.

For example, when you decide on a strategy for a long-term investment, what will be the source of funds for that investment and how many years the investment needs to be continued, strategy is very important in every matter.

After starting a business, the next step is to take the necessary measures to sustain it. The strategy for deciding on these issues is what kind of strategy to apply to increase the sales of a product in the business. The strategy should be decided before starting that project.

Knowledge of the investment comes first and is more important than the strategy you make before investing into anything either long term or short term.
Knowledge of the investment can help you know if the strategy will work, a strategy can be good but probably will not work so it is the knowledge that will guide you.

[Olatundespo]

Strategy is a skill that allows you to apply the right strategy to the work you do. The strategies that are used by the seller to increase communication between the buyer and the seller can be developed mainly through skill.
If you gain knowledge and skills in investing, it will be easier for you to determine the strategy. You will gain expertise in a certain subject when you practice. To learn investment, you need to know about the market for a long time and gain experience by buying and selling.

Strategy is necessary in business because through skill, you will be able to know about risky places. The right time to buy and which product/coin can be traded more profitably in the short term and which one to buy for long term investment. Every knowledge can be developed through skill and strategy can be applied according to the market situation.

[Versatile_choice]

As a business man and your plan is to keep your business moving, then you need to adopt a good strategy that would make customers to keep coming the reason why most of our business keep folding it's because we lack strategy. For example if you see that your business colleague is selling a  particular goods at 300 then you have to reduce yours to 290 considering the amount you bought the goods. with this strategy you will be able to gain more customers Because you're now selling in cheaper rate, so this are the common strategy we need to know as a business man or woman.

[Jubilee58]

Having a good strategy in a business is necessary in other to sustain a business and any business that lacks good strategy is bound to fail within a short period of time. In a business,  deploying the right strategy will single your business out from the crowed.
As a good business man or entrepreneur, don't do things like other business men, see how you can do things different from others but in a positive way in other to win the mind of customers.

Some of the strategies that you can consider are as follows:

1. Maintaining good customer relationship

2. Good business advertising

3. Discounting

4. Good Packaging

5.Sell quality products

6. Problem solving

Some of these strategies mentioned above are necessary for a business to thrive and win the heart of customers and sustain the customers as well.

[Tetu100]

It is very necessary for every business man or woman to have a solid strategy in pushing his business ahead. Strategy is a pattern or a technique in which every business man applies in the aim of keeping his customers to his or her self, possibly for them to keep on patronizing him regardless the competition around.

However, succeeding in business is not something that is that easy, you must put in some level of work that includes the strategy we are talking about  like  -   - The unique way you attend to your customers in terms of customer service quality.
- Your unique price stamp, as in dropping your price a little bit from others.
- Packaging your brand in a unique way, this also go a long way in stepping you above your fellows.

[Cgrexp]

First of all,what is the meaning of strategy?
Strategy are those things that we do to convince our customers in other to remain in business..or you can also say that strategy is a pattern.
Why then is strategy important in our businesses?
For one to remain in business,you must have a way or pattern of doing things that your competitors may not know about.you also need to know how to convince those people that are interested in your goods and services ( customers), trying to let them know that your company is the best even when you have competitors around you.

When we want to invest in any kind of business either crypto, scheme,or even personal businesses, we need  to strategize in other to remain in business and also not to run lost.

Business survives based on the right decisions. In the current market, competition is who can provide good benefits to the customer through strategy and gain the long-term trust of the customer. Without a plan, it is very easy to lose a business. However, in addition to conventional businesses, those who want to invest in the crypto world also need a strategy and plan, otherwise the investment will face losses because having proper research, knowledge and risk management is also a part of the strategy. However, it is necessary to update the strategy over time instead of stopping at making it once. Because the market changes with time and at the same time the customer's needs also change, so to survive in the business for a long time, it is necessary to improve the business strategy over time and make some changes.

[Bitcoin.com97]

Strategy is the most essential part in business, for a business to grow you have to adopt a good method to keep your business running and in line, which is having a good communication skill, most people don’t know how to relate or communicate with their customers  , their is a popular saying that say customers are always right , but I believe there is alway a way to interact with them in order to still keep them around and keep your business moving, them again business are competitive this days , so I think another method to adopt is price , in order to keep your customer,when you know other people goods or products are way higher  , you tend to lower yours not to a point it will affect you but you , but to keep your customers coming , having good strategy helps one in business , those that lack strategy alway find it difficult to maintain their business that is way it can fold easily.

[Dulen007]

When we want to invest in any kind of business either crypto, scheme,or even personal businesses, we need  to strategize in other to remain in business and also not to run lost.

If I were giving you advice based on this then, I'd say this..  In crypto, don’t just jump in blindly. Have a strategy (i.e) Research the coins, understand the potential risks, and decide ahead of time when to hold and when to sell. Stay patient, don’t let hype or fear control you, and always think long-term. If you move smart and stick to your plan, you can survive the swings and actually grow your investments.

[Dechris_08]

I totally agree with you OP.

In everything we do, we need a strategy.

As a business owner, you need a strategy to grow your business. As a crypto trader, you need a strategy to spot coins.

Without a strategy, we’re always on the wrong side of the pie.

[Itz-prisigold]

Strategy shouldn't just be about winning and losing customers or battling others.  It's more about the business staying alive and having a direction.  A business without strategy It's like being super busy in life and not having a clue where you are going. It's about having some direction.

One important reason is making decisions,  is a lot easier with a strategy in place. Every business goes through some really tough times. Could be low sales,  new competitors, or the market changing the price and the market going down even in crypto. And when you have a strategy,  you are not going to react out of emotion and panic, you just follow the strategy.

Most small businesses don't have a lot of money or time to spend,  and not having a lot of resources is another reason why strategy is super important,  It helps you focus on the things that actually matter and the things that don't add value.

Being successful in a business means changing to how everything else is changing.  Market and customer behavior keep changing and technology moves fast,  but with a strategy you are able to keep up with the market and everything else. Without a strategy,  it is really easy to fall behind and even get shut down, In simple words,  what you really need is a good strategy in place. Success doesn’t happen overnight,  but with a good strategy, you are bound to be consistent,  minimize risks and grow in the long run.

[Nathrixxx]

Maybe if we can really understand the importance of preparing for market competition we will also know how it is needed and of a necessity that we develop a strategy this, this talks about route of engagement or approach to apply for services, just to be able I generate adequate results needed, so there's no business achieving targets without having the required strategy needed for it.

[Hustle2025]

Business strategy is a long term plan or structure that shows or explains how a business, enterprise or investment can achieve it's targeted gaols within a given period of time.  Strategy is the driving force or the soul of an investment,  business or enterprise, it helps an investor,  trader, business owner to make smart choices, stay focused as it provides clear direction and also increase the chances of long term success. Hard work is not enough to make success in business, it needs strategy to ensure that effort leads to success.

The following are some business strategy needed for long term success in business:
1. What that business wants to achieve. ie, the gaol and objective of the business.
2. What  makes the business unique.
3. How to allocate resources.
4. How the business can out perform its competitors.
5. Who are the targeted audience or customers.

[Zanab247]

We need strategy to accumulate BTC that will boost our profit in the future. There are some investors who are use to one strategy in a particular investment and if the investment is no longer moving the way they want, they prefer to quit than to switch to another strategy they don't have idea about, because what you don't have idea, it will be hard for investors to make use of it and succeed without impact of the strategy.

We need strategy to improve our profit, when you are using different strategies it will make your profit different from other investors. Buy in the dip and sell when the price of BTC is high is a good strategy that is helping crypto investors to make progress that is attracting other people to join crypto investment.

[Nuel0717]

Most times, strategies are developed through different processes. Sometimes they even come from failure, and the whole point is to avoid repeating that same mistake again in business. Without a strategy, you’re basically moving blindly and hoping things work out.

That’s why I’ve been thinking a lot about strategies lately, especially in business and trading. I’m starting to wonder if strategies in trading should be treated the same way as in normal business, since people actually make real money from it and even depend on it as a source of income.

So the question is, shouldn’t trading be taken seriously like a business, instead of just guessing or following emotions? I’d really appreciate any advice or opinions on this 👍.