Is your business poised for exponential growth this year? Do you have a plan for realising that potential? A strategic plan is an essential component of business growth—one that is too often overlooked. If you’re looking to make this year a time of growth and you don’t already have a strategic plan, now’s the time to start. Where should you start? Great question.
First, start by identifying your goals for the year(s) ahead. You can’t get where you want to go unless you identify your destination first. While your team produces fantastic ideas that can help project your business forward, it’s not realistic to have an unending list of tasks. Instead, focus on achievable goals with set deadlines throughout the days, weeks and months ahead.
Second, you need to have good communication, which is essential to collaborating on strategic planning and implementing goals. Good communication starts with clearly defined roles and expectations so each team member should know their responsibilities and tasks they own. Once you’ve got those two points down, you’re well on your way to creating a solid strategic plan that will help you achieve your business objectives.
There are additional success factors to consider this year for any business looking to grow. We asked a few subject matter experts for tips on how to successfully grow a business this year. Here are their top 5 answers:
- Capture the attention of customers and decision-makers to improve renewal and retention rates
- Keep your systems up to date for happier employees, better served customers and a brighter business outlook
- Build your monthly, weekly, daily and hourly calendar to support your net new and existing customers
- Stay ahead of the curve by interviewing potential upgrades to senior-level staff
- Proactively consider ways to increase sustainability efforts while still growing your business
If you’re specifically looking to grow your financing business, you need to understand your customers goals before you can help them succeed. During your conversations with clients, remember to ask the following questions:
- How will you use the technology you want to purchase?
- What are your short-term and long-term business initiatives?
- What type of capital will you need to support those initiatives?
- Could your business receive a larger return if you leverage funds in another business function?
Simple and direct questions like these help to create productive conversations with customers that will illuminate both their needs and your solutions. If you have any questions about how innovation financing and exponential growth can benefit your business, visit our Financial Solutions website today to learn more.