Is your business growth plan clear and complete? Do you even have an articulated plan for growth? Many entrepreneurs don’t, and rely instead on maintaining the status quo.
If you don’t want to simply maintain the status quo, then you need a plan. If you haven’t got one already, here’s a simple, clear framework you can use and adapt for your unique business. And if you need help, just let me know.
First, have you ever heard of a SWOT analysis? It’s very simple. Examine your business objectively and make note of your answers to these questions:
Strengths – What does your business do best? Customer service? Follow-through? What do you do better than your competitors?
Weaknesses – What could you be doing better? Where do you need to learn more? What’s taking away from your strengths?
Opportunities –What’s changing in your market? In what ways are your clients’ needs changing?
Threats – What’s in your way? Are there any competitors encroaching on your territory or poaching your clients?
Next, apply this information to your goals. Take the long view: more than just six months or a year, determine goals for three to five years. Now, how do you get there? Here’s what you need to grow:
- Positive attitude
- Ability to accept and embrace necessary change
- Skilled team members
- Realistic mini goals that lead to the big goal
- Simple step-by-step plans
Some of the best ways to implement growth is to first look to your existing clients. Listen to their needs and think about how you can serve them. What are they not seeing? What is the missing piece of their puzzle?
Make sure that any growth is about true expansion. Real growth isn’t about having more people do more of the same stuff. It’s about diversifying, improving, and enriching both your products/services as well as your own bank account. To accomplish this, you need
- crystal clear communications,
- team members with the authority to make decisions about work in their purview, and
- to delegate responsibility to team members
Now, you can set up task managers and reporting strategies for them so you always know what’s going on, but aren’t bogged down in the day to day. You can proactively decide how your time is best spent – you aren’t dragged into a reactive position.
Remember, growth is only possible if you are free of the tasks that enabled you to start your business. They may still be important, but it’s not important for you to perform them.
As you embark on this path toward growth, keep your mind on your next move toward success. Your focus needs to be strategic. Let your team members handle the tactics. And get the help you need: an online business manager can shepherd your team through it all. Reach out today.