Create a Growth-Driven Small Business Plan in 3 Steps
May 21, 2018
The marketing industry as we know it is transforming so often that it is hard to keep up. Adhering to a growth-driven business plan is how you can stay on your trajectory to success, despite any industry shifts. Here's how you stay on top.
Establish Your Demographic
Survey your demographic.
- Identify their age range, professions, lifestyles, likes and dislikes, and so on.
- Ask your customers for feedback about your products or services - this is one of the best ways to gauge performance and continuously improve with suggestions.
- Figure out what makes you unique. Why should someone come to you instead of another business?
- Confirm your pricing and how you will sell the service or product.
Create Your Plan
Write a snapshot of the goals to inform the reader, of about 3 pages. Outline your company mission and some history of its formation. Include why you stand out from others in the industry and marketing strategies to overcome competition.
Create a design plan describes the product or service, lays out dates, deadlines, and sales forecasts. Next, write the operations and management plan explains business function on a day-to-day basis and depicts team members' responsibilities.
Stay concise by avoiding complicated jargon and fonts. Here are tips for writing your plan;
- Use simple language that gets to the point
- Create a table of contents to stay on track
- Break up text with topic headers and use infographics or photos
- Keep the plan at less than 40 pages
Work Your Plan
Be open-minded about possible changes to the initial business plan. Check in regularly to track progression. Schedule an annual revision, and be aware of facts and figures in your plan.
Things to note
- Get feedback from customers because they use your products and services
- Identify what sets your brand apart
- Create a clear business plan with your goals
Sources: entrepreneur.com, inc.com, barclays.co.uk, businessweek.com, forbes.com, sba.gov