Whether you’re a small business just starting out or an established company looking to take it to the next level, having a plan of action is essential for achieving success. Having a strategy in place can help with staying focused and on track while removing any guesswork that could lead to crippling delays. But how do you actually create a plan of action? In this blog post, Brian C Jensen discusses all the key steps involved in effectively designing and executing such a plan so your business can reach its long-term goals.
Brian C Jensen On How To Create a Plan Of Action To Grow Your Business
Creating a plan of action to grow your business is an essential step for entrepreneurs and small business owners, says Brian C Jensen. It serves as a roadmap for the success of your venture, allowing you to make informed decisions, take advantage of opportunities that present themselves, and address any potential issues before they arise.
A successful plan should include specific goals and objectives that can be broken down into achievable tasks with measurable outcomes. The first step in developing a plan of action is to assess where your business currently stands in terms of its mission and vision, finances, products or services offered, target market, competitive landscape, marketing strategies employed, and customer service delivery. Once you have established the current state of your business, you will need to determine how best to move forward toward achieving your desired goals.
Your plan should be based on a thorough analysis of the data points most relevant to the success of your business, such as customer demographics and engagement metrics. It is also important to consider external factors like market trends, industry regulations, and technological advances that could benefit or impede growth. Using these data points, you can create projections for revenue, expenses, and profits over a certain period of time.
To make your plan actionable, Brian C Jensen recommends breaking it down into smaller tasks with achievable milestones along the way. For example, if you are looking to increase sales by 10% in one year then set smaller targets for each quarter such as increasing sales by 2-3%. This will help keep you accountable and measure progress toward achieving your goal.
In addition to setting goals, a successful plan of action must include strategies for achieving those goals. Consider how you will reach your target audience, what kind of promotion and marketing efforts you need to undertake, how customer service should be handled, and any additional resources or personnel necessary to achieve success.
For example, if you are looking to increase sales in a particular product line, then consider the following actions: running special promotions on that product; increasing its visibility on social media channels; offering incentives like discounts or free shipping; and providing excellent customer service both online and offline.
Finally, it is important, as per Brian C Jensen, to review your plan of action periodically and make adjustments as needed. According to Statista, the total retail ecommerce sales worldwide are estimated to reach over 6.54 trillion USD by 2023, representing a staggering 29% increase from the previous year. Similarly, small business owners need to stay on top of new trends and make sure their plan reflects changing market conditions.
Brian C Jensen’s Concluding Thoughts
In conclusion, creating a plan of action is an essential step towards growing your business, says Brian C Jensen. It should include specific goals and objectives that can be broken down into achievable tasks with measurable outcomes. Additionally, strategies should be employed to ensure success, as well as internal control measures which enable you to monitor progress and adjust the plan accordingly. With a solid plan in place, you will have the best opportunity to achieve your desired growth objectives.