Is your business ready to grow? Business growth is best approached strategically, rather than trusting your gut.  Business owners not only grow their venture to increase sales and profit margin, but also to outperform competitors and future proof their business.

When assessing growth potential for your business, it is important to set SMART goals:

Specific: Define exactly what you want to accomplish.

Measurable: Make sure you can track progress and measure outcomes.

Achievable: Create a plan with a reasonable chance of success.

Relevant: Check your goals align with your overall strategy.

Time-limited: Work towards a deadline to keep on track and focused.

 

To identify specific growth strategies, it is best to work with a network of trusted and experienced advisors. Our team Ean Brown Partners has advisory and hands on experience across multiple industries. We can not only be your sounding board, but also help you to find the right strategy for your individual business and goals. Whether it is about creating new products and services, upping your share in the existing market or looking at exporting to different parts of New Zealand or overseas – we are here to help.

Keep in mind that every growing business is likely to go through some teething issues. Increased costs and overheads may dampen your cash flow. You may even operate at a loss for a time. We can support you by planning ahead and help you get back on track. You may also need to provide more staff training or add new staff to your team to meet growing demands and new responsibilities.

Business.govt.nz has a great self-assessment tool for businesses to find out if you are ready to grow. You can find it here.

Please touch base with our team if you have questions or would like to talk strategy!

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