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Ready to Grow Your Local Business 30% Faster?

Sep 08, 2021

Ready to Grow Your Business 30% Faster?

 

UNDERSTAND THE VALUE OF PLANNING

Whether it's the start of a new year, a new quarter, or just kicking off a big project, planning should be the first step. 

Annual or quarterly plans should always start with two questions:

How did we do last year/quarter?
And what do we want to achieve this year/quarter?

Those two simple questions are the start to set yourself up for success for your next year or quarter.

WHY IS PLANNING SO IMPORTANT?

There are too many reasons to count. But here are a few:

  1. It will help crystallize your vision for yourself — and for other team members
  2. It will help you focus on the highest priorities that will move your business forward
  3. It will hold you accountable to your goals & vision
  4. It will enable you to achieve success

Need one more reason to jump on the planning train? 

Companies that plan grow 30% faster than those that don't.

That's a stat that should get you in front of a whiteboard pronto!

Andrew Burke and his colleagues from the University of Warwick found in their 2010 study that companies that plan, grow 30% faster than those that don't.

SET ASIDE TIME TO PLAN

Business planning isn't an activity that only happens when you're getting your business up and running. It's something that every business should do along with tracking their progress throughout the year.

Plans can take many shapes, a strategic plan, a growth plan, a promotional plan, etc.

Blocking out time to create a plan is probably the single most important thing you can do as a business owner.

Creating the time to reflect on your past 12 months and think big picture about where you want to be in the near future, can make all the difference in your year.

Setting aside one solid day, free of distractions is a great first step.

NEARLY DOUBLE YOUR CHANCES OF SUCCESS

A plan is not a guarantee of success but it certainly increases your odds.

Want to boost those odds even further? Write down your goals, get your plan on paper.

According to a recent Inc. article by Peter Economy, writing down your goals increases your chances of success by 42%.

ACCOUNTABILITY IS KEY

Still not convinced that you need to take some time to plan in your business?

According to the American Society of Training and Development, you can increase your chances of achieving your goals by 95% if you share your goals with another person and commit to checking in with them on your progress.

Those are some pretty impressive statistics that ought to have you making goals and shouting them from the rooftops.

So start putting pen to paper, create your plan, and post it where you and your colleagues can see it every day.

Schedule some time with your team or a business mentor and monitor your progress. 

Better yet, find a coach who's an expert in local marketing to help out with your efforts.  Checking in regularly with a coach will keep you on that accountability train (plus you'll get some great feedback and help with your business tasks along the way).

Now that you know the statistics behind planning, you can't afford not to.

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