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What is a business growth plan?

A business growth plan outlines where a company sees itself in the next one to two years. Business owners and leaders apply a growth mindset to create plans for expansion and increased revenues. Business growth plans should be formatted quarterly. At the end of each quarter, the company can review the business goals it achieved and missed during that period. At this point, management can revise the business growth plan to reflect the current market standing.

A business growth plan is centered on expansion and the strategies you'll use to achieve it. While developing an effective plan requires time and effort, staying focused on your growth objectives can lead to significant rewards.

Your growth plan should also include an evaluation of your operating systems and computer networks to ensure they can support and sustain profitable growth.

Risy Sanni

You should include the following elements in your growth plan:

• A description of expansion opportunities.
• Financial goals broken down by quarter and year
• A marketing plan that details how you’ll achieve growth
• A financial plan to determine what capital is accessible during growth
• A breakdown of your company’s staffing needs and responsibilities