Make confident strategic decisions by following the Growth Planning process. It's a simpler approach to launching or growing a business.

Why does your small business need a growth strategy?

Your business’s growth strategy guides your path to expansion, so it’s crucial that you get it right. (Don’t worry, we’ll walk through all the steps of developing an effective strategy.) A growth plan lays out how you want your business to grow and the steps you’ll take to achieve that growth. A strategy helps you focus on what’s most important for expanding your business. It includes the following details:

• An overview of the expansion opportunities available
• A competitive analysis
• Financial growth targets
• An outline of your staffing requirements and the roles and responsibilities of your team members

What are the benefits of growth planning?

Planning for growth allows you to assess how your company is performing and identify key areas of opportunity that can help you expand in the future. Here are some of the top benefits of planning for growth as a small business owner:

• It provides an overview of how your business is performing as a whole
• It helps prioritize key areas for growth, so you know where to focus your efforts in the future
• It helps set clear goals for growth targets, which also lets you establish accountability within your team
• It allows you to better manage your cash flow by providing financial projections
• It encourages you to regularly evaluate how your business is performing, and allows you to pivot if your approach isn’t delivering results

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