What is your vision for your business?
What do you want your business to become? How will it behave? What will set it apart from its competition? Decide what your growth goals are and set yourself targets and set some realistic milestones by which you can measure your progress.
These will include your revenue targets, the time frame in which you will achieve this, number of staff and when they will join the business, number of outlets, profitability and so on.
Duncan Lugstein, managing director of Sydney-based Corporate Technical Services (CTS) believes the key is to map out a growth destination that is real, but stretches you and that can be broken down into smaller goals. “Planning growth in your business also needs you to work on developing yourself as a manager and a leader. Be prepared to get out of your comfort zone and grow as a person as your business will be a reflection of you.”
Your next task is to be really objective and honest about the business as it is now. If it has just come out of start-up stage then it is almost certainly still very ‘you-dependent’.
In other words, without you there it would not be able to operate effectively, let alone grow. This is a wake-up moment, and a very valuable realisation, because you are now able to ask yourself key questions about what really needs to be in place for growth to happen!
Until next time….
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