How To Grow Your Business In 2014 – Planning Is Easy, Execution Is The Challenge

NEW-YEARS-QUOTE-300x226A vision without a plan is just a dream, a plan without a vision is just drudgery, but a vision with a plan can change the world…..

— Old Proverb

The need for planning cannot be overemphasized and I’m sure as an entrepreneur you have developed a Business Plan for your business. If you have not gone through the planning process, especially at the beginning of this year then you need to drop all that you are doing now and plan. The truth however is that planning is the easy part, execution is the major challenge. Every entrepreneur plans (even if its just in their minds!), but implementation is always the problem, hence business growth is stifled.

Based on experience there are two major reasons why entrepreneurs find it difficult to implement and the solution to help you grow in 2014::

Reason Number One

We fail to define goals properly. We all understand the need for SMART GOALS and most entrepreneurs already know about this concept. But in implementation, entrepreneurs need to go beyond SMART goals. Let’s take an example:

A good goal might be:

We will grow Sales by 20% in 2014

For us, a great goal would be:

We will grow Sales by 20% in 2014 by

  1. Setting aggressive but informed sales targets that build to reach our goal for the year
  2. Spend Quarter 1  innovating our marketing systems to increase qualified leads by 12% starting March, 2014
  3. Establish clear training and guidelines to improve our conversion rate from 18% to 25%

Without understanding what has to be achieved in the various initiatives to make it happen, you will likely fall short or spend energy and time trying different things.

 

Reason Number Two

We do not properly plan for the RESOURCES required to succeed in implementation.To grow, every entrepreneur needs different resources support your plan to succeed. You’ll need to put in place some infrastructure that will support the growth. These infrastructure requirements can only be gotten with Finance (equity, debt or creative/alternative funding).

The other critical resource is Human Resources. Establishing a good strategy with appropriate goals is an important first step on the path to business success. However, implementing this strategy successfully depends on the people in your business. The greatest asset in any business is your people and if you cannot attract and retain these critical assets, then that is the beginning of your implementation challenges. All your goals cannot be achieved by you alone, you need the right people with the right systems/processes to achieve these goals.

So to grow your business in 2014, you need to make sure you have sorted out these three things. Click on each link to learn more:

  1. Business Plan
  2. Finance (for Nigerian based SMEs, you might consider our SME Funding Without Collateral Option)
  3. Human Resources

And in January 2014, we are offering discounts on our services to as our way of saying a HAPPY NEW YEAR. We are offering 10% off on all our project fees and one (1) month free subscription on HR Outsourcing. Let us support your growth in 2014 as we have done for our other clients.

To your success and business growth!

Olanrewaju Oniyitan

 






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