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Are you growing your business and achieving the sales and profits planned for this year? Are you you achieving results how and where you planned? Do you have defined growth strategies by product, customer, and channel?

Most companies want to grow. Public companies need to grow to keep shareholders happy. Some entrepreneurs are content with building a small business and the enjoying a nice lifestyle while maintaining their business. But, for most company executives, there is either an external or internal need that motivates or requires them to grow their business. Are you in this group?

Growing Your Business: Opportunistic vs. Purposeful
There are several key choices to make in planning for growing your business. The first one is important. Is your primary plan for growth to just take advantage of opportunities that present themselves in the market or are you going to develop a strategic growth plan? There is nothing wrong with recognizing and leveraging a great opportunity that comes to you. However, building your entire growth strategy on the hope of new opportunities coming your way makes it harder to plan for growth and to successfully build your company. That said, some businesses do rely on new business just walking in the door.

A purposeful approach requires strategic planning. You are purposefully identifying where and how you will build your sales and invest relevant resources to do so. Most companies go through an extended planning process. In your company, are the plans purposeful, actionable, and achievable once they are approved and deployed? In some organizations, the C-suite assigns the growth goals that they want to achieve and the company then has to figure out how to achieve this number (sales goal or budget). In this top-down approach, the aggressive sales goals are not always built on a customer based sales plan. This introduces risk before the year has started.

Effective, purposeful plans are built from a targeted strategy that builds sales and profit achievement by channel, customer, and product to identify what can be achieved. These plans are usually more realistic and will include a new customer or new product pipeline to define potential sources and probabilities of new growth. By building up by channel, customer, and product, the sales team can assign risk and probabilities of achieving the plan. It is then easier to measure progress at a customer level—eliminating potential “hockey stick” forecasts on how sales will suddenly make up any year-to-date shortfall.

Planning for Results
Building your financial plan from your customer and market growth strategy will help your team have greater visibility to planned growth, market opportunities and potential risk. By planning, managing and measuring your growth initiatives, you can help improve the delivery against your goals and plans. This process takes time.

Is it worth your time to build a more complete go-to-market strategy and plan? Ask yourself these questions:

• Do you have a strategic action plan by customer to achieve this year’s goals?
• Is this plan being executed by customer, channel, and market?
• Do you know where you are falling short and why?
• Do you know your priorities for the next quarter by product and customer?
• Do you truly have high confidence you can achieve your financial goals by year-end?
• If you answered no to any of these, it is likely worth investing more time on your growing your business strategy and plan.

About LaraNet: We are a web design firm focused to help you to grow your business and communicate with your customers and prospects using two simple but powerful tools: 1) Interactive Website and 2) Internet Marketing Strategy on social networks like Facebook, YouTube, Twitter, LinkedIn, etc …
Whether you want to work with just a web page, or launch or improve your presence on Facebook, Google+, LinkedIn or communicate with your customers through newsletters, or improve the location of your business in the search engines through Search Engine Optimization, or start marketing your products or services online, in LaraNet we can help you.

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