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

Transform Your Business

Managing Change
Mergers & Acquisitions
Growth Strategies
Marketing & Sales

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
  • Communications
  • Targeted Marketing Campaigns
  • Financial Resources
  • Sales
  • Targets

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.

Fail Scenario

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

  • Market Share Penetration
  • Market Segmentation Expansion
  • Product Development
  • Diversification
  • Reducing or Increased Pricing

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.