How to create a growth plan for your business
Posted: Sun Dec 22, 2024 6:08 am
When your business starts generating regular and sustained income , it is a sign that the time has come to expand your borders and grow. But for that you need a growth plan.
What is a growth plan?
A growth plan is a document that contains your company's objectives and the strategy to follow to achieve its growth in the coming years.
In other words, it is the same as the business plan but focused on the company's growth. It involves defining a roadmap with the steps and deadlines to follow in this new adventure.
This plan is alive singapore phone numbers list and can be modified over time according to circumstances and developments in the market.
However, it will help you to start and carry out the expansion in an orderly and coherent manner .
Four strategies for growth
The Ansoff Matrix is a very useful tool when looking for business growth . Its purpose is to help you see all the directions in which a company can move forward.
Proposes four possible paths:
Market penetration : increasing sales of products that already exist in an existing market.
Product development : introducing new products into an existing market.
Market development : entering a new market using products that already exist.
What is a growth plan?
A growth plan is a document that contains your company's objectives and the strategy to follow to achieve its growth in the coming years.
In other words, it is the same as the business plan but focused on the company's growth. It involves defining a roadmap with the steps and deadlines to follow in this new adventure.
This plan is alive singapore phone numbers list and can be modified over time according to circumstances and developments in the market.
However, it will help you to start and carry out the expansion in an orderly and coherent manner .
Four strategies for growth
The Ansoff Matrix is a very useful tool when looking for business growth . Its purpose is to help you see all the directions in which a company can move forward.
Proposes four possible paths:
Market penetration : increasing sales of products that already exist in an existing market.
Product development : introducing new products into an existing market.
Market development : entering a new market using products that already exist.