To survive in the business growth is a main factor. Near about 60% of startups are demolishes after 2 years and after 10 years this number goes on only 40% , because of their Business growth strategy from the day they started. They have their proper vision. Most of the 60% do not have their proper planning and due to lack of there planning and there non effective strategies they can’t be able to take good jump.
The good planning and the effective strategy can push graph of your business always exponentially upward, and always give your business graph with a high slope.
Successfull business growth strategy
Most of the success companies have there special department for planning strategies for the growth of their business and they have big hand of this department in their massive success. So for growth of the business there must be a need of a good and practical planning and that planning we called it as a growth strategy of the business. And good strategy is very important to survive the business in the global market.
Growth strategy allows the business to expand their business. Growth is directly proportional to adding new locations, or expanding product lines. The growth strategies chosen by a company will influences the industry. Considering the available option and building it into business plan is the first priority of all the big companies.
You can grow your business in various types like by increasing your products manufacturing, by growing business into new locations, by improvement in productivity, by adding new product in market, etc.
For growth of your business need of good strategies is very important. Business growth planning is a activity that allows the business to plan and track their growth.
A good business growth strategy can boostup the business in very low period of time like a Rocket and for it you need to focus on following points.
1) Generate your value:
To survive a long term growth, you must know what takes you apart from competition. Sets why you are the best? Why customer will come to you? What makes you credible and flasher? And use answer to clients why should they have to deal with you.
For example: A tea seller promise the people that his tea boosts their immunity and he also tells them that he use only mineraloid and fresh water for making tea and by these he attract more people than a normal tea seller. Because everyone thinks ‘immunity boosting tea let’s try it.’
2) Identify the right clients:
Your business is to solve a problem for a certain audience. Who is that audience? You have to reach to the right person. If you are at wrong audience then it is waste of your money and your time also. So it is one of the strategy for your growth.
3) Break the flow and grow:
No issues your business , your competition is likely excelling at something that your company is struggling with. Looks towards similar business that are growing in new ways and make your own flow instead of flowing with their ideas. You should have to little come out of the field for it.
4) Select area for growth:
It is nice thing that you want to grow your business but where or at what area do you wants to grow?
Your growth plan should have some specific area for growth and you have to focus on it only.
5) Research in market:
How you will choose at what area you want to grow? you will need to justify why you want to grow in that area?
To identify the proper area for growth you need what actually your clients wants and for these you need to do research in the market for getting the opinions of the clients.
Read also = WORD OF MOUTH
6) Set a goal for growth:
If you determined that in what area you are growing and why you are growing. Then you have to decide that how much you will be growing. This will help to identify how much growth you have done in certain time.
7) Determine your needs:
For growing you will also needs some funding , equipment’s, etc. You need one special setup for planning. You have to find first what are your needs and requirements for the growth and also work on it.
For succeed in today’s market you need to continue the discovery process. You should have to use new technology and keep you product updated. By making some innovative concepts in your products you will lead the market.
9) Always be updated:
You should have to run with the time. If you are depending upon old technologies then it should be very delicious. So going with the new technology always help to keep your graph exponentially upward.