A business development plan is a road map that defines where you want to take your business and the steps you need to complete to get there. It includes measurable milestones that can be monitored and adjusted to meet new challenges as they arise and take advantage of unexpected opportunities. Without a navigation system, it’s hard to get somewhere that you’ve never been to before.
“Don’t let the fear of losing be greater than the excitement of winning.” — Robert Kiyosaki
Now more than ever, you should ask more from your employees. It is expected that more work needs to be done during the change process. While it may be most practical to expect less in terms of performance, raise your levels of expectations and theirs. During change, employees are more likely to alter their work habits, so reach for the opportunity and push them to try harder and work smarter. Require performance improvements and make the process challenging, but remember to keep goals realistic in order to eliminate frustration and failure.
Employees are not so much against change as they are against being changed. Any time managers are going to implement organizational change, there is always a lag between the time the change has been discussed at the management level and the time the change is going to be implemented. Managers like to play like an ostrich and believe that they are the only ones who know about the changes that are going to take place. Unfortunately, while their heads are stuck in the sand believing that no one else knows, employees are effectively undermining the future changes with negative informal communication…the company grapevine. The sooner you involve employees in the process, the better off you will be implementing the change. A formal communication channel is more effective at implementing change than a negative informal one.
Too often managers and supervisors feel they must use self-protective measures, especially during organizational change. They start by trying to police all activities. Don’t try to cover all the bases yourself. You should concentrate on effective delegation during the early stages of the change process. Effective delegation is particularly good for two reasons: first, it helps you manage and maintain your workload, and second, it gives your employees a sense of involvement. Involvement positions employees to share responsibility for change.
The change process usually means that normal communication channels in the firm need to be enlarged. At this time, your employees will be hungrier than ever for information and answers. You can “beef up” communication. First, give employees an opportunity to give you input. Start by becoming more available and asking more questions. Get employees’ opinions and reactions to the changes. Maintain your visibility and make it clear that you are an accessible boss. More importantly, be a careful listener. Second, keep employees updated on a regular basis. Just letting your employees know that you have no new information is meaningful information to them. Strive to be specific; clear up rumors and misinformation that clutter the communication channels. Remember, it is almost impossible to over communicate.
While most intuitively know that if your company growth slows or declines, a company can go bankrupt. But you might be surprised to know thatyou can grow too fast and go out of business as a consequence. As Goldilocks once said, “Not too hot, not too cold.” So should be the state of a company’s health and its approach to business growth strategies.
- Workforce Supply
- Vendor Capcity
- Targeted Marketing Campaigns
- Financial Resources
It may seem that companies can coast by simply maintaining the status quo of their business, but I would argue that a company is either growing or dying. How do you ensure you are growing since the alternative is not desireable?
First, you should consider whether you are ready for growth. “But I thought you just said that a company has only two options, either to grow or die?”
I did say that, but you don’t want to launch into a business growth plan too quickly without the proper strategy and planning. That can be just as catastrophic as choosing to try to maintain the status quo for too long.
Most of us have heard this adage, but it cannot be emphasized enough. Each of these business growth strategies requires planning, preparation, and communication to those on your team that are going to implement them in order to have a chance at success. It would be unwise to underestimate the importance of proper setup.
“Failing to plan is planning to fail.” -Benjamin Franklin
Are there other companies or influential people in your industry that you can align yourself with to grow your revenues. Typically, these aren’t your industry leaders since they don’t need your help in return. But if you can find a company or person that has a certain level of success and needs others to create a win-win scenario for both organizations, then by all means do it.
Perhaps, you have the best quality, or maybe you have the fastest turnaround. Or you have the most advanced product on the market. Just make sure you have something that is genuinely unique, that sets you apart and actually matters to your customer, meaning they are willing to pay for it at a price you can make a profit. And make sure to communicate that to potential customers as your main point of differentiation from the competition.