For many solopreneurs and entrepreneurs, business expansion is something they dream of but sometimes are confused on how to achieve the expansion.
Deep inside, you are aware that you want to take your business to the next level. You are passionate about what you are doing and you really want more people to benefit from your product or service. The question is how do you do it?
It doesn’t matter what the size of your business is these three important tools will support you in deciding how and when you would like that expansion.
Those three important tools are:
1. The Business Map. This is your agile business plan that you can alter as the business environment changes. The categories to be aware of in particular are: clearly defined ideal customers, competitive advantage, value added proposition (how do you add value to customers) and stage of industry growth (this will allow you to always stay ahead of the competition as you are aware of the environment that you are operating in).
2. Your organizational structure in 3 years. This is very important as it will allow you determine your business action in the areas of human resources, marketing, services/products, technology. The organizational structure will allow you to see how you want to grow and then you can ask yourself how you to get there.
3. Documentation of processes. This documentation will allow you to scale your operations easily as you know exactly what steps you follow to get results.
These three tools will allow you to decide how and when you want the expansion and how you may want to achieve it.
If you are interested in a complimentary strategy session to determine a course of action best for your business, schedule your session at www.manpreetdhillon.com/contact.