Most companies are eager for growth, but more clients and more sales can be a dangerous goal without a plan. I have seen companies grow successfully. I have seen companies bring in all the sales they ever dreamed of only to have it destroy their business. The difference is patient planning.
When an owner or CEO decides to focus on growth, there are steps to take. All aspects of a business are impacted by growth. Planning for this impact creates a sustainable business. Your business is unique, and every company has core elements that are the same.
VISION What is the vision for this business? Where do you want your company to be in three, five, and ten years? Decisions you make and actions you take are achieving your vision. Considee our vision what you want your company to be known for – your brand reputation. Whom you want to serve? What products and services are at the core of your company? What kind of company culture will best deliver on your commitment to your customers? A vision is a high-level view, but then there are the nuts and bolts of it. The devil is in the details.
POSITIONS, PEOPLE, AND SYSTEMS What are the specific objectives for growth and the metrics you want to achieve? What staffing will be needed to support that growth? An excellent recruitment and hiring system is at the core of a successful company. You need to identify the positions the company will need to handle growth and by when. Next, have the right people in the correct positions. Those people need the support of written processes to do their job the way you want the work done. An effective management system mentors your people to produce consistent and reliable results,
FINANCES OF GROWTH Understanding the finances of growth is vital. What will it take to create and deliver on your growth metrics? Will the increase result, not just in sales, but in the net income you are targeting. Growth often means investing in the company’s resources. Strong financial systems, goals, and a cash flow plan keeps the company profitable as it grows.
KNOWING YOUR TARGET MARKET. You are making sure that growth brings in your ideal customers, clients, or patients. Attracting the wrong market is a drain on every aspect of the business. A well thought out marketing strategy is needed before a lead generation process. The goal is a lead generation process that attracts a consistent flow of the right customers.
DELIVER AS PROMISED Before launching a lead generation process, understand your company’s capacity to deliver on promised products and services. Can your company provide the products and services promised? You want to keep the customers that the lead generation system attracts not just make a sale.
HIGH CONVERSION You’ve invested time and energy in planning for growth. An effective lead conversion process that converts leads at a high rate makes all your efforts pay off. Look at the goal for sales and the plan to achieve those goals.
A BUSINESS PREPARED FOR SUCCESS Before growth comes planning and preparing the business. Doing this the right way builds on your brand reputation, generates revenues you have not seen before, supports a staff that feels good about the work they do, and your customers, clients, patients would not go anywhere else.