The 3 Components of a Winning Growth Plan

September 5, 2014 | Roger and Susie Engelau

Everyone knows that in order to do well in business, you have to have a plan.  And yet, many entrepreneurs never put one in place.

Are you one of them?

And even if you’re one of the proud few who has a plan, how’s it working for you?  Does it adequately reflect your current business realities?  Does it provide you a tangible guide, a roadmap, for getting from where you are today to where you want to be?

If not, isn’t it about time to fix that?

Planning isn’t important just for the satisfaction of being able to say you’ve done it.  Businesses that have plans develop new and better product, attract investment capital, generate  sales, and survive long-term (source).

And not just any plan will do—you need at least these 3 elements to make it a good, solid plan that’ll give you a clear picture of where you want the business to be in 20 years PLUS a list of the daily action steps to get you there:

1.    Company Vision

Start by painting a clear picture of where you want your business to be in 10, 20 or 30 years from now. Don’t be afraid to think big and set a BHAG (Big Hairy Audacious Goal). Top performers from all walks of life, Hall of Fame athletes, business moguls, Indy drivers and rock stars, all started out with BHAGs, and then reached their goals with unrelenting determination.

2.    Strategic Plan

Start by analyzing all the functional areas in your organization, sales, marketing, distribution, customer services, etc., to form a clear picture of your business’ strength, weakness, opportunities and threats.  Also analyze industry and market trends and build those into your plan so that you can keep up with changes occurring now or in the near future. With such an analysis in hand, your strategic plan will emerge before your eyes.

3.    Tactical Plans

Tactical plans describe the steps you’ll take to meet your strategic goals. Tactical plans are guided by SMART goals (Specific, Measureable, Achievable, Relevant/Results oriented, Time bound).  Start your tactical plan with quarterly goals then, create monthly milestones, & weekly actions. Make sure you’re measuring Key Performance Indicators (KPIs) and that you have a regular system of gathering important data and reporting on progress.

If you’re like many entrepreneurs, the day-to-day demands of your business interfere with your planning cycle. You have to step out of the business. Come to my 1-day Growth Plan Workshop on September 26th and at the end of this power-packed day (lunch included!) you’ll leave with…

  • A clear picture of where you want your business to be in 10-30 years
  • A 3-5 year plan, a 90-day plan, & a ready-to-implement weekly Action Plan to get you there—AND all on 2 pages!
  • Energy, vision, & focus
  • Strategies to build your profits right away
  • A network of like-minded business contacts

 

Critical planning for business success—in just 1 day. Don’t miss it—sign up now at https://growthplansept26.eventbrite.com.

Fri., Sept. 26  9—4:00pm

The Hilton Garden Inn Indianapolis Airport, 8910 Hatfield Dr., Indianapolis  46231

Cost is $247 at the door, $187 in advance, and FREE for clients.  Right now I’m offering an Early Bird Special!  Enroll by 9/22/2014 for $97.