In the absence of a Growth Plan, many businesses suffer from severe knock-on effects that impact revenue growth.

Building and sharing a Growth Plan with your team and external advisors ensures that you are sprinting in the correct direction of customer segments that most value your offerings.

Why plan for growth?

WATCH: Why GROW Strategy is popular with business owners and leaders

WATCH: How to power your business growth?

Here are some issues that a lack of a growth plan leads to:

  1. Delaying your growth: Want to grow but we don’t know where to start?
  2. Wasted efforts: Investing a lot of time and effort to grow the business, but we have little results to show for it?
  3. No Sensible Target: Not sure how much growth is possible? Concerned that we may be shooting too low? or too high?
  4. Lack of Accountability: No one is responsible for driving our growth? Lack of commitment to key actions that will help grow our business? 
  5. No New Thinking: We have run out of fresh ideas? Don’t know who to turn to? Cannot get a quick view of where we are up to? Not sure which direction should we invest in for the future?
  6. Poor Execution: After an initial burst in planning, we are too busy to follow up the execution? Are we on track? Not aware of what we planned against what actually happened?
  7. Intense Competition: We can’t differentiate ourselves? We don’t know our strengths against their weaknesses so we are getting beaten too often?
  8. Lack of Learning from Execution: Can we do this better? Are the assumptions correct? How do we fine-tune our plan?

Which ones from this list are impacting your revenue growth?

Once you make a start, you don’t want to finish your growth plan, ever! (as outlined in this article).

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