Develop Business Growth Strategy To Start A Small Business
                     START A 
SUCCESSFUL 
SMALL 
BUSINESS  BY 
DEVELOP 
BUSINESS 
GROWTH 
STRATEGY
A company's survival depends on its ability to 
grow. According to the Bureau of Labor 
Statistics, roughly 20% of new enterprises fail 
during the first two years, 45 percent within 
the first five years, and 65 percent within the 
first ten years of operation. Those figures are 
constant across most businesses, but they 
emphasize the need for planning for 
development from the start.
A solid growth strategy is more than just a 
marketing strategy; it's an important gear in 
your company's machine. You'll be at the 
mercy of a fickle customer base and market 
changes if you don't have one.
Business Growth Strategy 
Companies can extend their 
operations with the help of a growth 
strategy. Adding more sites, 
investing in client acquisition, or 
increasing a product range are all 
ways to grow a business. The 
industry and target market of a 
corporation have an impact on the 
growth tactics it employs.
Business growth strategies ahead of time, 
think about your possibilities and include some 
in your company plan. Depending on the type 
of business you're starting, your expansion 
strategy can involve things like:
• New places are being added.
• Investing in the acquisition of new 
customers
• Opportunities for franchising
• Expansions of product lines
• Multiple platforms for selling things online
Your decisions will be influenced by your sector and target 
market, but it's nearly invariably true that new client 
acquisition will play a significant impact.
Not sure what that means for your company? Here are some 
strategies for achieving growth that can be implemented right 
away.
Step 1: Establish short- and long-term objectives Step 2: Set goals in order of 
importance.
The first step in drafting a business plan document is to simply write out your 
five-year goals. Goals can be minor or vast, and they can be explicit (raise You will always find time for the things you prioritise. You should have a big list of 
revenue by 20%) or generic (increase revenue by 10%). (increase brand prospective goals to target after your brainstorming session, but not all of them will 
awareness). be realistic. Furthermore, some goals may be compounding, which means you must 
finish one before moving on to the next.
Some instances are as follows:
As a result, you'll need to prioritize your objectives. Goals that match one or more of 
the following criteria should be at the top of your list:
• Increase the number of products available
• Increase organic site traffic by 35% • They're the most important to the growth of your company.
• Open a second location. • They provide the best return on investment (ROI).
• Expand your business into new markets. • They're doable with current resources.
• Start an affiliate marketing programme.
• 15 percent increase in sales
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