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  2. To build a company for the long term, follow these steps:
    1. Articulate your vision by crafting a compelling vision statement.
    2. Conduct a SWOT analysis to gain strategic self-awareness.
    3. Set SMART goals to transform your vision into actionable objectives.
    4. Develop strategic initiatives to translate goals into action.
    5. Foster a winning team by aligning and empowering your people1.
    6. Write down your mission and set goals to achieve it.
    7. Identify tactics and measure results frequently2.
    Learn more:

    How to Create a Long-Term Business Strategy in 7 Steps

    • Step 1: Articulate Your Vision – Crafting a Compelling Vision Statement ...
    • Step 2: Conduct a SWOT Analysis – Gaining Strategic Self-Awareness ...
    www.achieveit.com/resources/blog/how-to-create-…

    How to create a long-term business strategy

    • Write down your mission and what it will take to get there The first step for a long-term business strategy is to decide what your mission is. What is your business purpose? ...
    countingup.com/resources/how-to-create-a-long-ter…
     
  3. People also ask
    How can a business improve long-term growth?View your business holistically. Looking at the long-term vision over short-term gains ensures strategic planning and sustainable development. Doing so will help lay the foundation for success in a dynamic market. Aligning the business owner’s mindset with employees’ is also crucial to achieve long-term growth.
    Is expansion a good long-term business goal?Many business owners see expansion as a worthy long-term business goal to add to their list. It might be your dream to have a business location in all the neighboring cities within a 50-mile radius of your original location, to expand across the state—or even to spread your business across the country.
    Is building a business for the long term a tough management challenge?We often hear that today’s CEOs face almost irresistible pressure to maximize short-term results. Where this pressure comes from is a matter of hot debate. But what we do know for sure is that building a business for the long term is a tough management challenge.
    How do you build a successful business?Take the time to build a solid foundation for your business so that you’re ready to handle the growth and expansion when it happens. Be willing to put in the work wherever it’s necessary. “You have to be that person that's willing to get your hands dirty,” says Penney, who’s once taken his own advice quite literally.
     
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