Growth Strategies for 2012 and Beyond

Now is the time to develop (or update) your strategic growth plan. While nobody has a crystal ball, positioning your company to be flexible and ready to capitalize on strategic opportunities, while growing your primary business sector is the key to succeeding in 2012 and beyond. The two most important strategies are flexibility and adaptability. In order to create both, consider the following suggestions:

Create a realistic assessment of where your company is and where you want your company to be in three years. Include strengths, weaknesses, opportunities and threats in all primary facets of your organization. Consider getting a wide variety of feedback and input from various audiences. The more perspectives you can consider the better.

Perform a competitive analysis, looking at traditional and upcoming competitors as well as possible disruptive threats. Unlike traditional advisors, we advocate using your competitor analysis more from an industry perspective rather than copying or stealing from your competitors.

Develop several business scenarios that could be realized during the next three years. Focus primarily on the economy, globalization, technology, workforce and financing.

Create specific action plans, develop metrics and implement accountability processes to strengthen your weaknesses, bridge the gaps, manage and capitalize on the risks, and take advantage of the opportunities and strengths that both your company and the economy offer!

We are all learning to live in and succeed in this new world order. Concentrate on how you can organize your staff and your operations, to be energized and responsive to the fast-paced opportunities as they arise (or you create them).

Remember, the key to capitalizing on opportunities is to be prepared, the more planning, the more preparation the greater your company's chance of success. Start planning now for how your company is going to grow and succeed!