Business Growth Planning – Seven Get-er-done Principles

A key tool for business growth planning is a comprehensive, detailed, game plan or strategy. You want a plan that defines your best case scenario, but also a plan with built-in flexibility. Over time, your business objectives may change or grow in unexpected ways and you need to be able to accommodate new requirements or commitments, without scrapping your whole vision. Make sure your business objectives include the following seven get-er-done principles:

  • A summary of what your business offers in the way of services, or products.
  • A marketing analysis and strategy that ensures your intended customers know who you are, and what you can do for them.
  • An outline of operating procedures, including staffing needs, raw material levels, production times, etc.
  • Expense proposals that cover payroll, liability insurance, taxes, worker compensation, marketing costs, etc.
  • Both short-term and long-term goals. What are your aspirations? Do you want to add new products or services? Do you want to expand into a bigger facility or multiple locations?
  • Financial projections. How long before your business is viable? What are your profit margin goals? When do you expect to be debt free?
  • A mission statement that answers the question: “Why will people prefer my company over others offering similar products or services?” Believe in what you are offering and strive for perfection. Set your standards high, and don’t compromise your values.

If you need start-up funding or just a shot in the business arm, a detailed marketing plan is an invaluable tool. It’s easier to lure and entice prospective investors if your business vision is outlined in black and white; inviting study, questioning, and evaluation.

Remember, running a business successfully does not need to be complicated.  Keep it simple!

For more information on business analysis, business planning, and ways to grow your small business profitably, please check out our website www.portalcfo.com.

Sign up for our weekly blog email update and follow us on Twitter @portalcfo

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.