Essential Steps to Enable Business Growth

Mar 6, 2021 | Business News

The kinds of business managers that see true success most often are those that establish clear goals, develop a plan for achieving them, and take action to execute the plan with other managers and staff. Let’s take a closer look at these steps in order to ensure your success and facilitate business growth.

Establishing Your Business Goals

In order for a plan to be workable, you need to define the end goal. The thing you are trying to achieve, whether it’s creating a new department to streamline certain business processes or “going global” with your products or services, is what every step of the business plan relies on.

Without a clear objective, it’s difficult to both be motivated to work hard in taking the steps needed to achieve it and recognize the stopping point. When you determine your goal, stick to it. Remind yourself of it often.

Developing a Solid Plan

Once your goal is defined, consider what it will take to achieve it. Be general in your planning at first, noting the major steps that your plan requires. Growth-centric business plans typically address the basics before delving deeper into each major task.

Let’s imagine, for example, that an established design/build contractor that specializes in windows and doors desires business growth by adding roofing to their list of custom design and construction services.

Here’s a potential plan that this company would develop, expand upon, and then put into action to achieve their goals:

  1. Develop processes and procedures for carrying out this new service.
  2. Establish a system for estimating roofing projects.
  3. Draw up a “dream team” of the professionals needed for this service to be a success.
  4. Address new resources to be acquired, new tools and equipment that will be necessary, existing resources that can be used.
  5. Discuss how the new service will be marketed.
  6. Launch roofing service.

This is a bare-bones plan, and your team will have to spend the time necessary to flesh out the details of each step before putting any of them into action. Breaking the large tasks into smaller ones makes the process more manageable and allows you to set reasonable expectations.

Taking Your Plan Into Action

Before you begin with step one of your business growth plan, create a schedule. Set due dates for not only the end goal, but also the major steps along the way. Establishing clear deadlines helps to ensure the project is completed the right way and within a reasonable amount of time.

An excessive amount of flexibility can be a bad thing for achieving your goals, and can cause you and your team to lose motivation and drive. Once the schedule is set, assign each team member or department their respective tasks and encourage communication throughout the process. Get status updates from your team as often as your project requires.

Keep the team members working steadily and collaborating when necessary. Avoid lulls in work that put your original deadline at great risk. Handle unforeseen circumstances or setbacks rationally and make adjustments where needed.

Grow Your Business with Expert Guidance

In 2020, you don’t have to wish for your business to be successful – you can successfully achieve it. Getting business guidance from Growth Team Strategies will better enable you to make a solid business plan and be efficient in the actions you take to see true growth and success. We are here to help you throughout this process, so contact us today!

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