Developing an Action Plan to Encourage Small Business Growth

INA Blog Developing an Action Plan to Encourage Small Business Growth 1As a business owner or manager, you know how much dedication and creativity it takes to build a thriving company. There are a lot of moving parts that come with owning and operating a business and there are plenty of things to plan for along the way. So, ensuring you have an action plan that encourages growth is key. Here are some tips on how to create a strategic action plan that will help you execute your vision and ultimately, serve as your roadmap to growth and success.

#1: Set goals.
When you are setting business goals – both on the short-term or long-term basis – make sure they are realistic and measurable. Then create a roadmap that has specific actions and deadlines to help guide you toward meeting those goals. This helps you and your team know exactly what needs to happen and when.

#2: Ensure you have the resources you need.
To execute your action plan and the specific tasks you have outlined in it, make sure you have the resources to get the job done. For example, if you don’t have enough people on your team to help, or you have not carved out enough time to complete the projects outlined in the plan, you may find yourself frustrated or struggling to meet milestones. Determine what resources you need to be successful and make steps to get those before you start working through your list.  

#3: Prioritize tasks.
Take a close look at your plan and concentrate on what is most important to you. Assign specific tasks to team members, if needed. By prioritizing your tasks, you can keep better tabs on the status of specific projects and their timeline of completion.  

#4: Make sure your team is on the same page.
When running a business, communication is everything. Talk through all the details of your plan with your team to ensure they are on the same page. Let them ask questions and provide feedback. Doing this builds a culture of open communication and respect and may provide insight or ideas that you hadn’t thought of before.

With the right action plan and the tools needed to make it a success, you can have a business that promotes company growth and helps positively impact the economy and the world around you.

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