Business Growth Strategies for 2017
- Admin
- Dec 9, 2016
- 2 min read
Bernice Njoroge, CONTRIBUTOR
It is that time of year where we assess how we performed throughout the year. We Identify what we did well, what we did poorly, what we need to improve. We can apply that scrutiny to our finances, business, careers, relationships and almost every aspect of life.
So as we analyze the events of 2016, we need to think about 2017, what we want it to look like and how we are going to make our goals happen.
For most businesses, growth is a key indicator of the health of the business. As we plan for 2017, we must identify a few specific growth opportunities. Strategy provides the infrastructure to for exponential growth. It reduces the stress of not having direction and being all over the place.
Here are 4 tips to drive growth in 2017
1. Increase Sales
Growth is measured by sales, how many products and services did we sell. So as we look towards 2017, think about how much more money the company needs to make next year compared to what it made this year. If this year for example you sold 1000 products then next year you should aim to sell 2000 or 1500. The key is that it has to be more than what you sold this year.
2. Push the growth lever
So by now we know we need to sell 2000 products for example, and we know 1000 products were sold by X number of salespeople, If you want to sell double the products then you should have double the sales people.
3. Innovative Campaign
The next thing you want to think about is how you are going to sell those products. This is where marketing comes in. You need to come up with a way to talk about your product to as many people as possible so you can hit your numbers. So you need various forms of advertising here, social media, radio, TV, print. Try to have a budget for marketing and distribute it on all channels so your product is visible to the masses.
4. Support your Structure
You can have a great product that people want to buy but if you cannot deliver on time, or you have no way to track orders and your customer service is awful then you might as well not plan for growth at all. What do I mean, the business systems have be constantly improved so the company does not lose any opportunities.
Customer service has to be on point, communication between the customers and the company has to be clear. The company’s leadership’s actions should be focused on only achieving the goal and design systems that will support this goal.
If you are an entrepreneur and you follow these four tips and stay focused on your goal, then 2017 will be a very good year.
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