The 4 main business strategies are cost leadership, differentiation, focus, and growth. Cost leadership means being the lowest-priced provider in your market. Differentiation involves distinguishing your product or service from competitors by offering a unique feature that adds customer value. Focus means targeting a specific customer segment with tailored products and services. Finally, growth is all about expanding your business through new products and services or reaching a more extensive customer base. Having a clear long-term vision for your business is essential regardless of your chosen strategy. With the right strategy, you can stay one step ahead and succeed in today's competitive marketplace.