Growth Strategies for Small Businesses

Business growth does not happen by itself. It needs to be planned, guided and nurtured or else it will lose its way and wander off into a swamp of uncertainties and get sucked into the quicksand of unfocused objectives. Your business needs to keep growing. An increase in your sales due to the quality of your products and selling technique is fine, but there is always competition at your heels.

To grow your business you need strategies.

• Business runs in cycles. Be aware of what is happening in the economy as a whole and in your sphere of activity in detail. This will enable you to plan your growth to match your industry growth cycle.

• Evaluate the viability of what you plan. Do a SWOT analysis. Get expert outside help. Companies like Ringgle (http://www.ringgle.com) can help you to better understand where you are today so you can base your plans on realities.

• Create an action plan. The plan should be time bound and have milestones to enable you to measure your success.

• Know the resources you will need to implement the plan. You must know when these resources will be needed and what additional resources you will need to have ready.

• Implementing the plan will take time and energy. Can you do it yourself or do you need help? Do you need to employ more people? Or do you need outside help from companies like Ringgle? Or both? Be sure of your ability to implement the plan before starting.

• Once you start on your growth plan, you will encounter obstacles you had not planned for. Be prepared for them and be flexible in dealing with the unexpected. Being flexible does not mean abandoning your plan and switching over to a hastily formulated alternative. It means having a plan that takes into account the unexpected and give you room to maneuver. Do not allow yourself to lose sight of the reason you created the growth plan and the objectives it leads to.

• Launch your growth plan with confidence. Starting with doubts will always compromise the results.

• Using the milestones constantly evaluate your progress. Be objective in looking for areas where the plan is not progressing as it should and be prepared to give the weaker areas more attention. A growth plan where some aspects are lagging behind others will never succeed as it is meant to.

• Once you have successfully completed your growth plan, analyze everything you did. Hindsight is a great magnifying glass. Look for things you could have done better or in a different way.

• Once your growth plan has been accomplished, do not rest on our laurels. Start planning for the next stage of growth right away. It could be for something 2 years down the road, but that does not matter. Having your next objective in mind will have a positive impact on things you are currently doing. And the more time you have to plan and organize for the next stage of growth, the better your chances of success.