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Thursday, February 28, 2013

Vision For Business Growth In 2013

All businesses, from a child’s lemonade stand to Verizon, have four specific areas or divisions....

Marketing: The “selling things” part of your business – getting customers for your products and services.

Operations: The “making things” part of your business – what you do for your customer.

Human Resources: The “people” part of your business – recruiting, developing, supporting and compensating your staff.

Finance: The “enabler” of your business – more than financial statements and tax returns, it is what makes your business possible.

Each division is important to the success of the business and they all must work together, but at any given time one usually needs more attention than the others. This is especially true in a growing business since different parts of a business often grow at different rates.

There are four steps involved in researching, creating and evaluating a growth plan....

Step One: Diagnosing the Health of Your Business

This formal analysis ensures you take a realistic look at where your business is now so you can be confident you are working with facts, not assumptions.

Step Two: Focusing on the Key Division and Setting Goals

This will help you examine every part of your business – marketing, operations, human resources and finance, so you can identify where attention is needed most and set realistic goals.

Step Three: Developing Your Business Strategies

This is where you will identify the best strategies to break through the toughest roadblocks and plan for the growth of your business.

Step Four: Implementing Your Growth Plan

Now you need to put the strategies into place, measure the results and watch for unintended consequences.

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