What Are You Doing About Growth Opportunities?by Kori Rodley Irons | More from this Blogger 25 Jul 2007 02:15 PM Good business managers don't just react and adjust to growth, but they actually plan and strive to create opportunities where growth can occur. As small, home business owners, many of us are struggling just to stay afloat, let alone planning and looking for growth opportunities... Sure, sometimes growth just happens-but in successful and stable businesses, growth is usually something that is planned for. As a business owner, you will need to keep one eye on the future, even while you are wrestling with the details of every day. Your annual budgets should reflect anticipated growth (both in revenue and expense) and it is important that you make projections that move forward-not stay the same from month to month and year to year. Some business owners and managers find it easier to plan one year at a time, while others like to project out 10 or 10 years, and then work backwards to try to figure out how to get to where they want or need to grow. Keep in mind that there will be plenty of unpredictable things that pop up-both positive and challenging-and that a plan is not a promise for what you will absolutely do. BUT, by keeping a focus on growth-more customers, expanded products or services, longer hours, expanded operations, etc.-you might be surprised at how many opportunities also pop up. Take into account projected changes in the economy, as well as your industry, and keep an eye on your market-all of these elements will affect growth. Of course, your own personal "stuff" will affect growth too-how much time are you spending on your home business? Are you planning to get additional education, training, or certification that could boost business? Once you start to really think about all the different ways you can tap into growth, you'll see that you may have been overlooking growth opportunities all along! Are You Setting Business Goals That Are Too Easy? Learn more about Kori Rodley Irons  Bio has been removed by administrator Relevanthome business tags User Comments No comments on this article yet. Be the first to comment! Community Tags budgeting, growth, planning Discuss this article
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