Establish A Strategy
Now is the time to take everything you know about yourself and your business to establish a clear strategy. Based on where you want to end up (vision) and where you are currently (stage of growth), you have the information to create the best plan for your business.
The strategic focus for any business will differ depending on what stage you are and what industry you serve, however the goal for each stage is the same.
Stage 1: Foundation
Goal—Get monthly cash flow to the point of consistent breakeven.
Goal—Consistently achieve owner-established profit requirements.
Stage 3: Self-Sustainability
Goal Path A—Sustain the business success created to this point.
Goal Path B—Rapidly grow the business to a large corporation.
Stage 4: Rapid Growth
Goal—Assure that growth doesn’t outpace assets, resources and systems.
Stage 5: Maturity
Goal—To diversify the company by offering related products or services to existing customers or by entering new markets.