Seize The Day: What Are Your Plans for Growth in 2017?

Posted on: February 10th, 2017

To grow and remain strong in 2017, you need a strong growth strategy plan. Choosing to invest in a growth strategy plan involves more than simply envisioning long-term success.

Rather it works to smooth out your business’s inefficiencies, refine your strengths and create greater customer-centricity.

Here are seven ways in which you can shape your growth strategy to achieve your business goals.

1. Identify your customers:
Your customer is what keeps you in the business. Your product or service solves a certain problem for a certain audience. Take time to identify that audience, learn all you can about them and make appropriate changes to your growth plan to cater to them.

2. Define your differentiators:
Identify what sets you apart from your competitors. You may differ from them on parameters relating to product, price or customer service. Once you identify your differentiator, use it to create a value proposition to attract other consumers.

3. Classify your key indicators:
Classify your key indicators by investing in measurement parameters. Once you identify the key indicators that directly impact the growth of your business, choose to invest appropriate time and resources to build on those areas.

4. Recheck your revenue streams:
Your revenue streams are the lifeblood of your business. Check your current revenue streams and see if you could add to them to make your business more profitable. While adding new streams be careful to choose revenue streams that are viable and sustainable in the long run.

5. Build on your strengths:
Very often organizations shape their growth strategy by focusing on eliminating their weaknesses. However, the opposite works equally well. Build your strategy to suit your strengths and use them to grow your business.

6. Keep an eye on your competition:
It is wise to be aware of your competition. Is your competition excelling at something that your company is struggling with? Or are newer competitors choosing innovative and unique ways to fuel their growth plans?

Explore the reasons as to why your competitors have made alternate choices and learn from their failures and successes.

7. Invest in talent:
Your talent is your greatest strength. Make sure you hire people who are motivated and inspired by your company’s value proposition, and those who fit into your company’s culture. The right talent will help channelize your growth strategy in the right direction.

Developing a growth strategy requires careful planning keeping in mind changes in the market and business environment. Ensure a strong 2017 by putting together a personalized growth plan that propels your strengths and enhances customer centricity.

In the middle market, acquisition financing providers are regarded as super intelligent and hardworking. They have distinguished themselves at elite banks or consulting firms and possess the ability to synthesize voluminous levels of info into a coherent, succinct takeaway or observation. This skill is extremely valuable in attributing causation to business drivers in a financial model used to foretell the future.

The deal world thrives on the belief that the institution providing acquisition financing will deliver on their promise. Lenders usually telegraph their capital capabilities early on during the sales pitch and give their deal sizes and hold levels for their fund.

Most mezzanine debt borrowers are rightly focused on the downside of breaking a covenant and for good reason. Most borrowers have had to deal with overly sensitive banks in the past which often exhibit trigger happy default notices during covenant breakages, especially when they want to get out of a loan.