The Importance of Creating a Growth Plan (And the Four Key Principles That Will Help You Do It)
Nobody wants a business that gets stuck in one place. You want growth and progress, and there’s a way to achieve both.
I couldn't wait to start working with Isabel ever since we had our first call!
You see, Isabel started her business with incredible potential. It’s because she already took care of some crucial aspects on her own, like bringing in clients.
She was able to create a business that was already seeing success. But it was still a bit of a diamond in the rough. Her business wasn’t becoming all it could be.
You see, Isabel achieved some success relatively early on. When she reached a certain limit, she didn’t really know how to progress beyond it.
The good news is that she was determined to move forward. Her goal was obvious: she wanted her business to grow. And that’s why Isabel approached me.
She knew she wanted to move on to bigger things but couldn't get there merely by experimentation and trial and error. Isabel needed a growth plan. And we came up with just the plan to make her business thrive.
When we started working together, her monthly revenue averaged at about $15k. But ever since she started following her custom-made plan, Isabel has been hitting up to $50k months.
Of course, the plan we devised for Isabel was particular to her situation. However, the principles it relied on were universal.
That said, this article will show you the four key principles to help you create an amazing growth plan of your own. And it’ll help you stay excited about your business’s progress.
The Four Principles
Principle #1. Think of Your Three-Year Vision
I remember my mindset when I was starting out.
It seemed impossible to think more than six months in advance. Also, everything was going relatively slowly, so those six months seemed like ages to me.
But here’s the reality…
As your business grows, this level of vision quickly becomes too narrow. Everything speeds up, and soon, you find that a year has whizzed by before you know it.
That’s why as you focus on growth, you have to start developing your vision, not for one but three years from now.
Now, this doesn't mean the same thing as planning, though. After all, you can create a viable plan for the following year, but it will differ in nature from your three-year vision.
So, what should that vision entail?
Keep in mind that most of us aren't building massive business empires. Instead, we're growing lifestyle businesses. These are very small businesses – micro, even – that allow us to create an amazing impact in the world and afford us a particular lifestyle.
That’s why the three-year vision you develop should be as much about your business as about that lifestyle. So, think in the context of where you want to be at that time.
Principle #2. Dare to Dream Big
Developing a vision goes hand in hand with creating goals. And this is where you want to go really big.
When you’re thinking about the milestones and goals that will drive you forward, dare to be bold and inspired. The point isn’t to go for something you know how to achieve. Rather, it’s to express and follow your desire.
Now, you don’t need to have all of the answers just yet. You just want to set a bigger context and focus on goals that will simultaneously excite, energize, and scare you.
By dreaming big, you’ll give yourself the fuel to go beyond the threshold.
Principle #3. Clarify the Purpose of Your Business
When thinking long-term, there’s nothing more important than understanding why you do what you do. This is a question you’ll always revisit to check if you’re in alignment with your purpose.
It's why it’s essential to define the core focus and purpose of your business. So, ask yourself why you are doing all that work. What do you want your business to become? And what do you want it to give you?
Now, the answers to those questions might seem very definitive. But your reasons for getting into the business will change and evolve with time. That's why you'll need to revisit and update your purpose every now and again.
You might start wanting to earn money, for example. But that motivation could change easily as your business grows. And at some point, your purpose could become:
- making a bigger impact
- giving opportunities to others
- employing more people
- reaching a broader client base
- building a company that lives beyond you
These are all very different purposes, and they might not be apparent right away.
So, returning to your core reasons will help you define what’s keeping you in business. And that will make you fall in love with what you’re doing all over again.
Principle #4. Create a Simple Roadmap
When you know where you’re heading, you’ll want to create a roadmap to get you there. Now, it doesn’t have to be a complex, 30-page document that you’ll never refer to again. Instead, your roadmap should be simple and concise.
You undoubtedly have plenty of ideas, and that’s amazing and really useful for your business. But when creating a roadmap, you need to distill those ideas into a few key priorities.
It's somewhat similar to this very article.
We started from a notion of a growth plan, which is a complex, case-specific idea. And then, we distilled it into four principles.
The main thing is that you don’t need to work out every detail from the start. It will be enough to determine your direction and think a few steps ahead.
In a way, it’s like going up a mountain path.
You can plan the first several steps based on the part of the path that you see. Then, as the trail zigzags and reveals new turns, you figure out how you'll move forward.
Keep in mind that sometimes, the steps reveal themselves along the journey. But you’ll never see them if you don’t get started. That’s why you’ll need a simple roadmap to guide you.
Inspire Yourself to Grow
Following the four key principles will help you design a growth plan to boost your business’s progress. And there's a crucial reason why these principles work – there's a common trait all four share:
Every principle outlined here is about giving yourself the drive and motivation to grow.
You see, when you inspire yourself to action, it will be the most powerful force to push you forward. And with that kind of wind at your back, you’ll draw ever closer to achieving your dreams.
"MY BUSINESS IS NOT GROWING FAST ENOUGH"
I’ve been exactly where you are. I know what it feels like when deep down inside you know you were destined for more but things aren’t going fast enough or you’re feeling stuck or frustrated.
Our clients frequently report doubling and tripling their incomes, reaching more people, creating greater freedom as well as thoroughly enjoying the journey of business and leadership growth.
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