Test Your Business Growth Curve
Any business that is not growing is going backwards. Have a good look at your growth over the past few years and ask yourself the following questions.
- Am I still relevant to the market place
- How innovative am I?
- Where am I in the competitive field?
- How realistic and truthful am I about where my business really stands?
Once you have answered these questions you can find some answers to your questions by checking out the following 5 tested topics to test your business growth.
1. Relevance: Well-chosen goals point a business in the right direction. It is better to select a small number of goals (3-5) than have a long list. Keep each goal clear and simple. Be specific and realistic Ensure your goals are aligned with your overall mission. Are you confident that the strategic plans/goals you have set to grow are capable of growth in the markets that we have chosen to serve? Is this plan sustainable over the chosen period of growth?
2. Innovation: Have I identified a competitive advantage that is truly unique? Have we defined what could erode this advantage
3. Feasibility: Am I satisfied that all implications of the proposed direction have been considered thoroughly, implementation is possible, and all supporting business goals, objectives and strategies are realistic, practically achievable, affordable and comprehensive?
4. Accountability: Am I confident that management accountability is clearly defined, the growth plan execution is adequately resourced and key tactics are assigned to the correct people to implement?
5. Fine-tune, using feedback: As shortcomings in our growth plan become apparent, am I mindful that we need to learn from our execution and can apply these findings quickly, to help fine-tune our tactics?
The best thing you can do is the right thing.
On the other end of the spectrum, the worst thing you can do is nothing.
