Why do we need strategy in business?

[Fiasem20]

Strategy really dey necessary for business or even investment.And for strategy matter dem dey always get the most preferred strategy,for example bitcoin investment na DCA strategy nai be the most preferred strategy among the rest strategies.As for business aspect,I never venture into that side but I get knowledge about their strategies on how to run business successfully.First thing first,you need to establish a business by selling quality products,because if your products na fake and your customers find out,bad news no dey hard to spread.Secondly your approach to customers matters,as oyibo man talk am say customers are also right,make we try dey take reviews from customers without creating disputes.

[AYOBA]

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.

To keep any kind of our business grow we most have difference strategies in order to become successful, but that’s what most of the business people don’t understand when they come to business; some have the strategy but they don’t know how to keep their customers satisfied with their business. And the customers satisfied he supposed be any any business man priorities; if they want make their business keeping growing they most patient with their customers to make sure their all satisfied with their products.

[Sammysmart001]

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.

Strategies is one of the most important aspects, in this journey of life itself, not only on business. I believe that now that there is no any business one will want to do now. that some one hasn’t started before. But for one to be successful in doing same business with someone u need allot of strategies for urs to workout better or looks more good, packaging matters allot in business this a very good strategy in business.

[Tungbulu]

I totally agree with your overall point, there's a statement you made that interest me the most that's the side you said that we might be going with the same strategy with our colleague which is true and as a matter of fact I have seen a situation like that before where a two friends were using the same strategy. funny enough that they were selling the same thing and also the same area the distance is not much and it is  literally affecting one of them because, before customers can reach him they will have to pass his friend before they could reach him and since customers have discovered that the both of them are using the same strategy so they don't bother to move further than to buy from the closest person. So this are the reasons why we need to implement a strategy that would look different from other people's own.

In the business world, what’s very common is competition, a healthy competition, and staying ahead of all your competitors requires you to involve some unique ideas and strategies in your business. For the guy in the story you narrated, he might be thinking that the best thing to do in such a case could be to move out from that place or relocate to somewhere else where there’s less competition, anyone who thinks this way is clearly not ready for business because competition is what brings out the best in you, running away from competition isn’t clearly the best approach but moving ahead to do your due diligence and come up with better ways to up your game and stay at the top of the league.

[TokenTikas]

Why then is strategy important in our businesses?

Using the right strategy to grow a business is very important. Those who have better strategies and apply them well through customer service always stay ahead. The main goal in business should be to give the best possible service to customers. When customers are happy, the business will do well but if good customer service is not provided then nothing good can be expected from that business.

I want to share something from my personal experience, which can also be seen as a kind of strategy. I have a friend who does business with different raw materials. Whenever I have free time, I discuss with him and try to learn some tricks and techniques about his business. He told me that his strategy is different from other shop owners, he sells raw materials based on his own strategy, which helps him make a good amount of profit.

He mentioned two important points:
1. Everyone’s goal is to make profit by selling raw materials, but not everyone can apply profit-making strategies in the same way. Some people want to make more profit but even with that intention, they are not getting enough customers to sell to.

2. Even though the goal of making profit is the same for everyone, his approach is different. He sells the products at a limited profit margin from the price he buys them. His main focus is to increase the sales of products and raw materials.

The important lesson here is that if you try to make very high profit and sales go down, you will not be able to earn more overall profit. But if you reduce the profit margin a little and increase the number of sales, you can make a good amount of profit, and customers will also be very happy. I really like this interesting idea of his, I believe this is how business should be done. This way, business becomes profitable and a good relationship is built with customers. Of course, it is very important to always provide good products and good service according to the strategy.