At our company, we look at things in the following three business areas:
- Sales and Marketing. Based on our goals and our target audience, we create a plan to better reach our customers and potential customers. Our main goal is increasing market share. For this reason, our main strategy is working with our current customers to grow their businesses and referrals.
- Operations. Capacity building requires staffing and technology. We are always looking for talented staff to add to our team.
- Finance. I started my career in accounting, so the company’s bottom line is always at the top of my mind. In creating the plan for growth, I think about the expenditures I need to make in hiring staff, invest in new technology, outsource tasks, and evaluate my return on investment. Then, we create a budget to meet our growth goals while maintaining a positive cash flow.
For some, this is a simplistic point of view; they need the soup-to-nuts approach to business planning. But, because we truly understand our target audience and our goals, this works for us.
A lot of work goes into having your own business. I know I wouldn’t have it any other way! I’ll keep you posted on our progress and please do the same!