Published: December 3rd, 2019; By: Judi Hughes
As Philip Orsini wrote, “Companies don’t fail because they grow. The fail because they don’t plan their growth.” If you want to grow your business, you need to make your plan your blueprint for growth.
December is the time of year when business owners are setting their thoughts on the year ahead.
Helping business owners plan their growth is what we do, so it seems appropriate we share our recommendations on how to create your plan for growth.
The sort of plan I’m talking about gives you complete clarity about where you are going, specifies how you are going to get there and keeps you focused on taking action. Here’s how to start:
- Set aside four 90-minute blocks of time over the next month and dedicate that time to planning.
- Collect your business history; revenue, sales by product, what worked, what didn’t, etc. (3 Minute Read)
- Decide how to document your plan; free form, mind-map, pre-formatted template.
- Be sure to check out the free resources embedded in this article. 😊
Include the following elements in your Strategic Action Plan:
Vision – Is all about you. (2 Minute Read)
Everything begins by being crystal clear about what your perfect business looks like. Assume there are no obstacles; everything is possible. Take time to think it through. Write it down.
Mission – Is the purpose of your business. (5 Minute Read)
Your Company Mission is a precise, meaningful statement of what your company does, who it serves and what sets it apart from your competition. This becomes your filter for future decisions and actions.
Three-year Objectives – What will you be celebrating in three years’ time.
Be very clear about where you want your business to be in three years so you can identify what you need to achieve this year to move toward your long-term Vision.
One-year Goals – Do a gap analysis.
What’s the gap between where you are today and where you want to be in three years? Identify what you need to achieve this year to ensure you get there. Be sure your Goals are Specific, Appealing, Relevant to your Three-year Objectives and Time specific.
Strategies – How you are going to achieve your Goals?
Each Goal may have several Strategies. For example, increased revenue goals may have strategies to increase pricing by 10%, run four new product campaigns and implement an affiliate program.
90-Day and 30-Day Focus – Focus on Staying Focused! (Under 2 Minute Video)
What are the key items you need to do in the next 90 days to ensure you achieve your plans? What do you need to do in the next 30 days to make that happen? These actions need to be your priority.
Creating the plan is the easy part. Execution is always the challenge!
- Your plan is a living breathing thing. Refer to it regularly and make considered adjustments.
- Put action items in your calendar and make them a priority.
- Find an accountability partner to share your plans with and to hold you accountable. Here are some guidelines for creating your Business Accountability Team. (3 Minute Read)
Are you ready to grow your business?
There are no quick fixes to building the business of your dreams. However, your Strategic Plan can certainly help you enjoy the journey!