A business strategy is a high-level approach that outlines how a company will achieve its long-term goals and stand out among competition in the market. A strong business strategy provides a clear roadmap for a startup and helps founders focus on key priorities, align team efforts, attract investors, and adapt effectively to market changes.

Start with your vision, purpose, and value proposition to define how you will stand out in your market. Create a document that outlines the goals you want to achieve for the next one to three years, with specific milestones and metrics. Include strategies for achieving these goals and potential obstacles to overcome.

• Learn the key differences between a business strategy, model, and plan: strategy refers to the 'why' and 'what' of your business; model refers to 'how' your business operates and makes money; and plan is a document that combines strategy, model, and execution.
• Define the market you are in and how you believe your business can be a unique disruptor within that market.
• Use participatory methods, such as collaborative brainstorms, facilitated discussions, and scenario planning, to ensure all team members contribute to the strategy.
• Opt for concise strategic plans, as they're often more effective and easily adaptable than extensive documents.
• Measure progress by developing metrics such as key performance indicators (KPI's) or objectives and key results (OKR's).
• Implement your strategy, making sure to assign clear owners to each task and schedule check-ins to report back on progress.