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As a business owner, you are probably aware of where your business could improve and grow. Sometimes business owners want to grow their business, but are not sure how to start the process.
This guide provides an overview of some of the key steps you can take to start growing your business.
Before you start implementing changes to your business, it's a good idea to make sure you have a full understanding of the factors impacting on your business success.
These factors may include your current business practices, market trends or changes to the wider environment in which you operate.
A number of tools can help you assess your business's situation. These include:
Business goals can be as broad or as specific as you want them to be. Writing down your goals clearly will make it easier for you to achieve them. Make sure your goals are:
Once you have written down your goals, you should prioritise them to decide which ones to focus on first.
It's also important to recognise that some goals will need to be addressed with a long-term strategy because you won't be able to meet them immediately.
Review your goals and list the factors that you think are creating your current circumstances. Think about what strategy you could use to improve the situation.
Depending on the goals you're trying to meet, you may want to think about using the services of a business professional, such as a professional trainer, a contractor or a business mentor.
Think realistically about what you can do yourself and where you may benefit from some support.
Longer-term goals or strategies often include several specific actions or tasks. It's a good idea to develop a plan for how you will do this.
Write your plan in a format that suits you. It should include:
When you've developed your plan you might want to also update your overall business plan.