6 Surefire Ways to Prepare Your Business for Growth This Year
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Recently, the National Association for Business Economics (NABE) said it expects the U.S. economy to enjoy the fastest economic growth in a decade in 2015. With predictions that the (GDP) will expand by 3.1 percent, job creation will increase and there will be an upswing in consumer spending, business owners would be wise to plan accordingly.
As we begin a new year, this is the ideal time to press pause, celebrate your achievements, and prepare for a strong business 2015.
Here’s an easy checklist to help your business enter this year on solid ground:
1. Take a look at your team and make adjustments as needed.
Success comes down to people. You need to have the best people in the right positions equipped with the necessary resources to excel in business. Get your arms around who is on your team and how they are performing. Assess strengths while also addressing weaknesses.
Related: If You Want to Succeed, Here Are 5 Things You Need to Do Differently
If you’re preparing for growth, where do you need additional talent? Who do you need to promote or manage out? Where is your team stressed? What skills are lacking and what training might benefit employees?
People are your greatest asset. Build a team empowered to deliver greatness.
2. Evaluate and enhance your infrastructure.
3. Refresh your social-media accounts and strategy.
4. Poll your key advisors.
Connect with your key advisors, including recruiting, legal, accounting and marketing partners. Share your growth plans and projections for next year, so they are positioned to support your goals.
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Do you project tripling your revenue? Do you intend to double the size of your team and lay off the underperformers? Give your accountants a chance to address how this will affect your tax year. Launching a new product? Give your marketers a heads up to start thinking creatively.
Get ahead of the game, so you and your allies can work together to lay the groundwork for success.
5. Funding your growth takes planning
6. Ensure a meeting of the minds.
Getting everyone aligned with your company’s mission, brand and goals isn’t always easy, but it is crucial — especially for your executive team. This time of year can be hectic but making time to get together can transform chaos into focus in the coming year.
While making your list and checking it twice, if you add a little business planning to the mix, you’ll be amazed at the difference it makes. Set some tactics in motion, envision your future and then begin 2015 with a strong start and reap the success of what you sow.
Related: Successfully Orchestrate the Expansion of a Growing Company
Recently, the National Association for Business Economics (NABE) said it expects the U.S. economy to enjoy the fastest economic growth in a decade in 2015. With predictions that the (GDP) will expand by 3.1 percent, job creation will increase and there will be an upswing in consumer spending, business owners would be wise to plan accordingly.
As we begin a new year, this is the ideal time to press pause, celebrate your achievements, and prepare for a strong business 2015.
Here’s an easy checklist to help your business enter this year on solid ground:
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