When your business starts to take off, you need to start considering new factors. Here is the first part of a two-part series on your business plan and how to plan for growth.
Click the following link for Plan for growth II: Writing a business growth plan
Before writing your business growth plan formally, you need to start thinking about some key areas. Read and jot these down before writing your business growth plan.
Goals and objectives
While you can’t guess what will happen in the future, you can accurately predict, within reason, what your ecommerce business’s future performance will be. Consider different outcomes: a worst-case, best-case and business-as-usual scenario. What specific goals do you have in mind for the best-case scenario?
Changes
Nothing is more fluid than a growing business, so expect changes in your business as you grow to your next level. Doing what you’ve always done will just result in a stagnant business.
Think about change: where do you want your business to grow? Is it a specific geography? Specific customer group? New product line? Look for new markets and opportunities to include in your business growth plan.
Staffing
You can’t significantly grow a business all on your own. What sort of staff would help take some weight off your shoulders? What tasks could you easily delegate? Evaluate your current staffing situation and think ahead for how your staffing needs will grow alongside your business.
External advisors
Mentors. Advisors. Non-executive directors. What sort of help do you need from outsiders to grow the business? Seeking help from others that have already successfully grown a business online is another technique for you to grow your own ecommerce platform.
Include other key members
It is also worthwhile sharing your thoughts with your key members of staff, asking them how they view the business, too. They might have different ideas that could help you reach the next level, and including them in your plans will make them feel important.
Write your business growth plan
Once you have considered these key areas, you are ready to start writing your business growth plan, which will help your business reach its next level.
