Welcome back to the business builder newsletter! In this newsletter issue, I will share some of the ongoing practices and strategies I employ to manage my company as it continues to evolve. Keep in mind that this is a snapshot of the current state of my company's management and will naturally change over time.

Estimated read time: 3 minutes

My strategy practices

Every year in Q4, I begin the process of closing the year by analyzing our numbers and results. Following this, I review and adjust our strategy for the upcoming year.

To organize our strategy, I utilize a large Obsidian graph (Mind Map) which links the various components of the company's strategy. This Mind Map is structured based on the business plan house format, which I've described in detail at the end of this newsletter.

The Mind Map covers aspects such as values, purpose, vision, and mission, and then delves into goals, strategy, objectives, and tactics. Depending on the team size and company type, I employ different methods for setting quarterly goals:

1. For smaller teams, I use the rocks system from the Entrepreneurial Operating System (EOS).

2. For larger companies, I use the Scaling Up Rocks system.

3. For technology, software firms, and projects, I use Objectives and Key Results (OKRs).

Ultimately, we establish three "rocks" or strategic goals per quarter and align them with our company's overarching strategic goals. These are reviewed every week during our weekly adjustment meetings.

In Q1, for example, our three strategic goals were Internationalization, Scaling, and Growth.

The Rocks were: Build a recurring revenue machine in Q1, and deliver a new international large project, as well as sign a couple of agreements to prepare for Q2.

We linked three initiatives to these goals and established KPIs to measure our progress:

1. For Internationalization, our aim was to sign an agreement and achieve 50% of our revenue from international markets.

2. For Scaling, we planned to build a new passive revenue platform, creating a passive revenue service.

3. For Growth, our target was to double our revenue.

In conclusion, regularly reviewing and adjusting our strategy ensures that we remain focused on our goals and can respond to changes in the market. By sharing my experiences managing my company, I hope to provide insight and inspiration to others facing similar challenges.

I will continue sharing in the upcoming issues.

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If you want to learn more about building a successful business, be sure to check out my free ebook on the topic, available now on my website: luqmanshantal.com

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- Luqman