Successful business growth doesn’t happen accidentally. While there are times when rapid expansion occurs due to unforeseen factors such as large-scale market changes or shifts in demographics, for the most part, a business plans for expansion long before actual growth takes place. This planning helps anticipate potential challenges and roadblocks, as well as define growth opportunities—all so expansion takes place in a hopefully ordered and effective manner. Here are five tips on planning for expansion that can help inform your strategy…
Adapt or die! If you’re not moving forward, you are going backwards. Even the most successful businesses must find ways to reinvent their products or services or risk losing customers to more innovative competitors. Successful businesses understand the need to review the features and benefits of their offerings and determine if a product upgrade is called for, or, more ambitiously, the launch of a new product.
The most successful companies use project management, but most smaller business owners don’t think they need something so formal. Well, you do!
Whether you’re in charge of developing a website, designing a car, moving a department to a new facility, updating an information system, or just about any other project (large or small), you’ll go through the same four phases of project management: planning, build-up, implementation, and closeout. Even though the phases have distinct qualities, they overlap…
You don’t need us to tell you—the goal of hiring talented, qualified job candidates is now a lot harder to achieve than it once was. Businesses are pursuing a wide range of strategies in order to replenish their workforce, and to build new talent for the future. Here’s a look at common recruiting mistakes and how to avoid them…
In a video interview with the Entrepreneurs Organization (EO), Nick Leighton, bestselling author of Exactly Where You Want to Be explains why it is so important for business owners to have a both a personal and business vision that is aligned…
In a video interview with the Entrepreneurs Organization (EO), Nick Leighton, bestselling author of Exactly Where You Want to Be explains why it is so important for business owners to physically write out their strategies and what can they benefit from sharing their goals with someone else… you will learn this in the following 90-second interview.
You may have the best product or service out there, but you need sales. The bottom line is that if you want to get larger than a few people, you most probably will need more sales than you can achieve yourself, so if you lack a high-performing sales team, chances are your business will suffer. As anyone who’s ever been in (or dealt with) sales knows, it takes a combination of locating a person with the right sales traits and skills, combined with the best approach to training and guidance, to get the desired result. Here are 4 tips on building a world-class sales team for your company…
I’m no designer, but I know what I like when I see it. Which puts me squarely in the dangerous space that many entrepreneurs have – thinking they can do it (after all we can do anything). Put together a web site, landing page, flyer, promotion… no problem? Here are two free resources that will make your designs better - guaranteed!
Although every strategic planning session is different depending on the needs of each organization, most strategic planning agendas have a similar structure.
We share a sample strategic planning agenda that you can use and customize to your needs. We recommend including your team in the planning process as early as possible to increase company wide buy-in and implementation after the session.
A company’s strategic plan is only as effective as the process that goes into creating it. If the approach is too rigid, hierarchical or only serves as an empty exercise, it’s unlikely the business will in any way benefit from the process.
Here are suggestions on how best to mold the strategic planning process to get the most from your expenditure of time and resources…
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