While sales growth is desirable, not all growth has equal consequences or outcomes. Everyone is familiar with the coined phrase “urban sprawl” which is the result of unplanned growth. This type of growth happens without forethought and causes unforeseen challenges and complications, often unpleasant or with a negative connotation. According to Blackenterprise.com, “strategy is not about waiting for opportunities to come to your business. It’s about making sure your business is moving, and most importantly, that it’s moving in the right direction.”
Here are five steps they suggest are needed when developing a solid plan for strategic sales growth:
- Know exactly how the market you are doing business in operates.
- Learn your role in the value chain. Make sure it’s a profitable position.
- Identify your competitors as well as your business’ competitive advantage.
- Understand what your customers need and how you can best serve them.
- Be sure the products and/or services the business is providing now as well as those it’s capable of providing in the future are aligned with the company’s core skill set.
Instead of the business edition of urban sprawl, take a page from urban planners who incorporate the concept of “smart growth” into their five and ten-year plans. Smart growth plans include evaluating the present circumstances and introducing projections of requirements needed to meet anticipated changes that might become necessary due to growth. This smart concept requires the business to evaluate the anticipated changes in organizational structure and capacity, human resources, infrastructure, and financing.