Your Business Plan: Strategically Planning for Growth
Approach Your Growth Strategically
Business plans are often mistakenly associated only with start-up businesses.
But without an evolving, written business plan, company management can easily find itself overwhelmed and reacting to events, instead of managing proactively.
So if you haven’t updated your business plan since your start-up days, it might be time to consider writing a business plan for growth.
Periodic planning can help sustain growth and profits, and is a practice that’s vital to keeping up with the ever changing business landscape.
Featured Product
Business Development Strategies Seminar
Are you trying to be all things to all people? Attend this seminar to learn how to expand your market, align your business opportunities within your network, and plan your success. No matter how successful your business is, you still need to put time into business development and planning.
Register today! Contact a client services coordinator at (604) 775-5541 or 1-800-667-2272.
See All ProductsSmall Business BC offers a multitude of resources to help you grow and manage your business.
- You can register for the Business Plan FastTrack workshop for guidance on how to update your business plan to prepare you to enter new markets or offer new products or services, and to proactively manage your growth.
- You can schedule a meeting with one of our business advisors to discuss your business, where it's heading, and how to update your business plan to get you there.
Grow Your Business Proactively
Grow (or refine) your niche. Find new niche markets by finding new applications for your products or services. Launch a new product.
Motivate people to buy more, buy again, buy now, buy bulk, or prepay. Use coupon promotions.
Start a referral program. Have your customers refer people to you.
Go international. Get trustworthy distributors with deep contacts in new territories. Motivate them to sell more.
Stand out from the competition. Know what your competition is up to. Differentiate yourself. Know when to change.
Spread the word. Get word-of-mouth referrals from your best clients. Promote your business using the many new social media and low-cost marketing avenues available. Network, network, network. If you’ve never done it before, attend a tradeshow, such as Small Office/Home Office (SOHO), to generate new interest.
Improve your online presence. Ensure your website is accurate, current, and professional, and has basic search engine optimization. Put yourself in Google Maps. Increase awareness about your business: try local, trade, and online social media. Volunteer to write a column for a related trade publication or newspaper. Start a blog. Get on Twitter. Create a following, and continue to grow awareness about what you do.
Grow a membership. Share valuable information about your industry and what you do in a blog or e-newsletter. This increases your credibility, and keeps you top of mind.
Go green. In your marketing, focus on the green aspects of your business. Catch the eye of new buyers who prefer "green" products and services.
Subcontract. If you have time in your schedule, subcontract your services out to a similar business. For example, an independent copywriter could work as a subcontractor to a larger graphic design firm, or a professional organizer could subcontract their services out to a busy company.
Tips by Small Business BC's Advisory Services Team
Site Search
Content Tools
