This assistant is an introduction to provide simple information from SWBSS Ltd. If you want to grow your business successfully. you will need to put a clear plan together that details how you will expand. Your overall growth strategy must include marketing, operational and financial strategies.
The marketing strategy covers what products or services you will sell, how and where they will be sold along with the price the customer will pay. Understanding your target audience will influence how you promote your products in an effective way.
The operational strategy addresses how the products will be made and delivered to your customers in a cost-effective way which maximises productivity and minimises costs. A detailed operational standards document is used for routine complex procedures. This allows data to be collected and improvements measured.
The financial strategy shows details of how the business will fund the current business along with plans for growth. This strategy focuses on the next 3 – 5 year plans, demonstrating income generation, expenditure and funding streams.
Successful business growth comes from having a realistic viable expansion strategy with measurable objectives and tactics that show how the strategy will be achieved. Regular tactic reviews, with necessary amendments, ensure successful business growth allowing for expansion at a sustainable pace.