The pandemic presents a unique opportunity for business in Cornwall and across the South West. Get your recovery action plan with our COVID-19 research report.
Your guide to creating a successful business growth strategy
50% of businesses are currently missing out because they don’t have a clear vision. Which half are you in?
Having a growth strategy is vital. Without one you can waste a lot of time and money chasing things that simply don’t suit your business.
One person who understands the importance of strategy is Allanah Armondi, our co-founder. Launching Everest Media with husband Sam back in 2014, she remains a driving force behind our success and growth.
Before Everest, her career history spanned the healthcare, energy and lifestyle sectors. She also launched a very successful dog walking brand, before starting Everest and making the move to Cornwall.
Now she has revealed how you can establish an effective business growth strategy in just five straightforward steps.
Why is a growth strategy is vital
“It’s great to have huge ambitions and exciting plans, but a growth strategy is a wonderful way of making you first focus on the smaller things that really matter,” says Allanah.
“Done right, it will set out a blueprint for your entire business journey. It’s not just about marketing, it’s about growth. Focusing on your strategy creates a strong foundation for all your future work.
“How do we know? We’ve been there - we’ve done it first-hand at Everest Media. For a little while we were trying to grow every part of the business in one go, with no actual strategy in place.”
With no clear direction, Allanah and Sam didn’t see the results they hoped for. It was at this point that they realised how vital a growth strategy was.
She added: “We needed a strategy so that we could focus on where we wanted to grow, how exactly we could do that and how to do so in an achievable, realistic timeframe. It worked for us, now we want to help others to see the same success.”
Below is Allanah's step-by-step guide every business can adopt to create an effective growth strategy. It really can work for all types of business, no matter the size, industry, goals or vision.
How to create a successful business growth strategy
1 - Where do you start?
This is the most daunting question of any journey, but taking a simple approach works best. Sit down with a huge sheet of paper and pens, whiteboards, or your laptop, and get started.
Start by outlining the areas of your business that you want to grow. Consider which ones will offer the best return.
Think about what you want to be famous for. What do you do differently? What do you do better than anyone else? These questions are a great starting point for your business vision.
2 - Clearly define your vision
Once you've mapped out all your ideas, it’s time to pull it all together. You must now clearly define your vision.
This can be you deciding that you want to be ‘Cornwall’s best gin maker’, the best employer in your sector, or that you want to see a big uptake in sales. The exciting point is, it could be anything.
Don’t forget – once you know it, share it. Make sure your whole team understand your dream and get a say in shaping it. It's important that they're not only aware of your plans for the future of the company, but that they support it, too. After all, they’ll be the ones helping make it a reality.
3 - Figure out three or five goals to support that vision
For each goal, you need to discover the smallest possible steps to achieving them. Work from the bottom up, lay the foundations and you'll create stable success.
This also enables you to work out how best to spend your money and where to invest your time. Whereas before you may have pumped a lot of funds into bettering one aspect of your vision, this way you can work out what needs the most attention and budget allocation.
4 - Get to work
It’s simple, but effective. Once you’ve discovered your goals, set out to smash them.
Don’t be afraid to start slowly, breaking your goals down into manageable tasks. The first step can be as simple as sending an email. Figure out what the next small steps are that you can take, and then repeat. You'll soon start to see progress as you tick off your to-do list and work towards your vision.
5 - Enjoy the benefits
Importantly, you must think of a strategy as a journey. You don’t reach your destination immediately, however what you should see straight away is that you’re heading in the right direction.
So, if you’ve set your goals correctly and you begin to take small steps to achieve those, you’ll very quickly see your growth journey materialise.
Need support with your business growth strategy?
Don’t worry if you’re still wondering how to begin your growth journey. We’re here if you need suggestions, feedback, or hands-on support to help you along the way.
We don’t just help create strategies and then walk away. As a digital marketing and software development agency, we have in-house technical and digital expertise to guide you through your digital transformation journey and achieving your goals.
How do we do it? We discover, do and improve. Learn how discovery can get your next project off to the best possible start.
We truly enjoy working in partnership with clients to deliver on that strategy. We share all of your goals, jump for joy with you and support if things get tough.
Want to know more? It all starts with a conversation - let's talk.