It’s time to talk Business Growth Plan and the best way is with a high level how-to-write-your-business-growth-plan type of post. We are nearing the end of 2014. Many business owners start to evaluate the year that has just gone by. I would love to share with you a few simple steps that you can you was to start creating your business growth plan for 2015.
Your first step should be to evaluate the past six fast you had this year. You can’t use this as a springboard for planning future steps for next year. Consider your competition and the trends in your current market. What things are happening in the economy can help you forecast your growth for the next year.
Next, we’ll look over previous plans and decide which things you happened yet to implement deserve to get on the docket for 2015. If you look at the business growth of various competition compact company’s in your sector and industry you can get some good ideas for where you want to go. Don’t forget other industries in your review, as you can get ideas that can be implemented in your industry. Use their ideas as ways to more freedom for yourself and see potential for your growth. You can use this and make it unique to you for your own compa.
Determine where your very best opportunities lie. Is it adding additional services, products, or is it at creating relationship’s way if potential partners to cross promote existing products and services? Networking with others both online and offline will give you some good ideas here. Think of both modifications and additions to your services and products. Is there a way to adapt them to make them more available or palatable for existing customers, or for new customer market segments? Figure out where you want your company business growth to go, and then list action steps that you want to take to get there.
Think about some internal measures and business analytics as well. How efficient are you and your staff? Do you have sufficient abilities to conduct your business activities and make sufficient profit? How are you adaptable personally? Are there things that you need to do for personal and business growth to get out of your own way?
Ask yourself if you are doing $5 and $10.00 jobs yourself? Can you outsource or task work to the virtual marketplace quickly? Are there some opportunities to take small busy work off of your daily to do list? Leave the big picture thinking to you, the CEO and work ON your business instead of IN your business.
Do you need to set goals for employees? What role will they play in your growth plan and how will they gain the skills? The development strategy for your staff is as important as your overall business growth plan.
What about technology growth in your business? Do you need to update or upgrade any existing systems or technology in your business? Are you making use of the best business tools? What opportunities exist in the cloud computing, in mobile applications, or over the Internet. Cost of ownership of tools is decreasing . Is it time for an upgrade or an overhaul? Think about your marketing strategy and include your use of social Media Marketing here as well – which indeed is another post on it’s own.
Consider the capital or assets you will need to support your growth. After reviewing the list of actions you wish to take in 2015, make up a list in your business growth plan with what it will take to make these things happen. You will need to create some sort of an ordered or sequential list of the way in which you plan to implement this over the next year. Take analysis of your company’s finances after you conclude your year and books. See if it’s possible to redirect internal growth from profit that you made this year into reinvestment within your company.