Planning is the key to success in any business. It’s sensible to review your performance on a regular basis and identify the most likely strategies so you can grow your business. Here are some of our tips on planning for business growth:
Look Back to Look Forward
Study the past successes of your company and use this to create new ideas for future achievements. By regularly assessing your performance against the plan that you began with, you are more likely to reach your goals. By doing this you can highlight where and why you have gone astray. By choosing to reassess every three to six months, this will show direction and commitment to employees, customers and suppliers as well as keeping you focused.
Also study your competition, the trends of your target market, and economic trends to forecast your growth plan. Looking over the business plans of various other companies that have seen great recent success, both in your industry and in other industries, you can use their ideas as motivations to create your own strategy.
When you are reviewing your business plan, it's important to be clear on how you will allocate your resources to make your strategy work. The business plan for growth should allocate sufficient resources to achieve it's goals. You should assess your companies efficiency in terms of employees abilities and adaptability, as well as your own. This will help you to realise what you can or cannot do without your current staff, and if you need to hire new staff, or hire your existing staff in with new skills or training.
Look for Friends
Another good way to plan for business growth, is to collaborate with a business owner that has successfully expanded their business, as you are trying to do. Gaining advice from someone who has been in your position is invaluable.
Is your business growing? The Women's Organisation would like to offer support and advice to those who's business is growing and accelerating...
Exclerate Labs is part funded by European Regional Development Fund and offers FREE business growth consultancy to businesses registered in Greater Manchester who are operating in a business to business sector and ready to grow.
• Developing Growth Strategy
• Accessing Markets
• Building Strategic Sales & Marketing Plans
• Developing Effective Leadership
• Gaining Support with Financial Management, Procurement, Bids & Tenders
• Linking to Networks & Developing Strategic Partnerships
• Measuring & Understanding Corporate Social Responsibility
Or building your business in another way.
If you are interested in receiving support contact our team via firstname.lastname@example.org