If you regularly assess your performance against the plans and targets you have set, you are more likely to meet your objectives.
It can also signpost where and why you're going astray.
It should enable you to clarify and prove to yourself first how you plan to generate revenue. The Growth Plan is a combination of strategy and specific steps to implement that strategy to help achieve your business goals.
The plan makes the connections between the different functions that create value for your clients by examining: A well crafted Growth Plan enables you to take advantage of disruptive changes in the customer buying patterns, set meaningful priorities, and understand the need to pursue results in a systematic and methodical manner to ensure success.
by Shehan Wijetilaka | CEO, Grow Strategy Pty Ltd Do you want to grow your business faster than your competition?
A Growth Plan enables you to plan and track the growth in your business revenue.A business plan will also ensure that you meet certain key targets and manage business priorities.You can maximise your chances of success by adopting a continuous and regular business planning cycle that keeps the plan up-to-date.This should include regular business planning meetings which involve key people from the business.To find out more, see our guides on how to review your business performance and how to assess your options for growth.Business Plans are very useful to gain external funding from banks or investors.In contrast, a Growth Plan provides a deeper dive by exploding the “go-to-market” section that is typically seen in a Business Plan into a more granular plan on how to engage and create value for customers to move the revenue dial.It allows you to be more efficient in generating new revenues by focusing on the value that customers can see.It allows you to differentiate yourself from your competition.The tactics in a Growth Plan uses short sprints in 90-day cycles.This ensures execution is rapid and any lessons learnt is fed-back to fine-tune the Growth Plan for the next sprint, in near real time.