Business Plans: 5 Tips for Accelerated Growth
Love them or hate them, Business Plans are an important part of business growth. Based on a set of goals that you want to achieve, a strong business plan can help propel the entrepreneur’s business to the next level.
Many business plans based on traditional templates, geared towards minimising risk and steady growth but if your goals include high growth, your business plan needs to reflect that. Consider the following 5 tips when developing your business plan:
- Your business plan must have a big impact on your business. Insignificant tweaks to a comfortable plan will result in mediocrity. Think big and go for a bold strategy.
- Force yourself to be more productive by striving for far-reaching goals. You will accomplish more if you aim higher.
- Bring your deadlines forward – we all work more productively when a deadline looms.
- Stage each goal to take you forward. Incremental goals are mini-successes but there will be time to celebrate later!
- Choose complementary goals for a synergistic effect. For example, if one of your goals is to increase your followers on social media as an aid to promoting your web site, a holistic approach means that when your social media and blog are promoted, they will in turn generate more traffic for your website.
Remember that business plans are not set in stone and should never be buried under one! Successful entrepreneurs regularly review their strategies and rework their business plans as goals are achieved and business grows.