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Category - Business Planning

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1
Growing Your Business With Your Annual Business Plan
2
Growing Your Business With A Strategic Plan
3
Growing Your Business – Measure Everything
4
Starting A Small Business With A Plan
5
How To Action Your Business Plan Strategies

Growing Your Business With Your Annual Business Plan

This is the third part of our series on growing your small business after establishing it from a startup. If you missed our first two articles on Growing Your Business By Measuring Everything and Growing Your Business With A Strategic Plan, you can catch up by clicking on the links.

This series of “Growing Your Business” follows our earlier series of blog posts on “Starting A Small Business“. If you want to catch up on how to start your own small business I will put the links to those articles at the end of this post.

In this post I will discuss how, having set a long-term strategic direction for your business to grow, through your Strategic Plan, you can cascade shorter-term goals and actions from the long term strategies year by year. This allows you to establish more detailed annual targets and actions, while at the same time ensuring that you stay true to course on the way to building the business of your vision.

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Growing Your Business With A Strategic Plan

This is the second part of our series on growing your small business once your startup is established.

If you missed our series on how to start your own small business, you can go here to read the first article in that series.

The first part of this series on growing your small business can be found here.

This week, we are going to look at how preparing a long-term Strategic Plan as an overview of your strategic direction (where you want to end up and how you want to get there) can help you keep on track as you grow.

In your growth phase, you will meet many challenges and just as many decisions. Where will you open a store next? Who should you hire? Your supplier is going out of business – how do you choose a replacement? Should you rent your new premises or buy? Should you take on a partner?

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Growing Your Business – Measure Everything

We have completed our series of blog posts on starting your small business, but if you have missed any of those articles and you want to teach yourself about the steps to take when you are starting a small business, I’ll put the links to those articles at the end of this post.

Today we are starting our series on growing your small business. Having started successfully, you are not turning your attention to growing your business.

One of your most important tasks of this stage is to set yourself milestones in the growth of your business so that you can recognise when you have reached various points of success. When should I hire more staff? When will reach a point in my profits when I can invest in more equipment? When do I start paying off my startup loan? When should I look to open a new store?

These are the types of questions you should identify answers to at the start of your growth so that you can recognise them and know what to do next.

This is why one of your most important tasks, other than writing your Strategic and Business Plans, is to measure everything.

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Starting A Small Business With A Plan

We continue with our series of “how-to” articles on starting your small business and this week we will look at how having a plan can help you start your business, and begin its growth life-cycle.

It never ceases to amaze me that there are studies after studies that are conducted in various countries and years apart that come up with the same result.

Invariably about 80% of startup businesses are no longer in existence within 4 or 5 years of startup. Many of these studies dig deeper – and find that the number one cause of why people think their business failed is because they did not have a Business Plan.

We know this. Yet the cycle repeats itself.

So, you heard it here – if you are starting your small business, prepare your Business Plan.

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How To Action Your Business Plan Strategies

All this month, I have been offering new members access to my One Day Business Plan Program, at a discount of 20% from the usual price of $499. You can read more about the One Day Business Plan Program here, and if you want to take advantage of what the program offers you, you can use the discount coupon to obtain the 20% discount – but only until the end of July 2021.

To get the discount, purchase the Program and at checkout, enter the code ODBP0721.

At the same time over the last few weeks, I have been writing about how a Business Plan can help you grow your business and create order and organisation in the day to day strategies of your business.

Some people have written to me to ask how they can implement their strategies once they have written them out in their Business Plan, so let’s look at how to do this.

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