Many entrepreneurs undervalue the benefit of creating a growth strategy for their business. They set goals for how much they need to make each month, and then they launch with hopes that their plan will work.

How many times have we done this? I know I can’t count the number of time using both my hands lol. Until I knew that there was a better way, I have no idea what my plan lacked. When developing an effective business growth strategy, you have to go beyond that.

Here are 5 steps you can implement to make this Your Breakthrough Year!

Define Your Vision

Having a clear vision will help you to set a solid foundation for the future of your business. It can help keep you stay focused on your ultimate goal and prevent you from doing things that delay profitable results. Think about the primary problem you want to solve for your audience long-term and craft your vision statement around it.

Here are some examples of vision statements from big companies:

  • Disney: “To make people happy.”
  • LinkedIn: “To connect the world’s professionals and make them more productive and successful.”

As you can see, crafting your vision statement doesn’t have to be overwhelming, but it does need to be something you can reflect on to remember your purpose.

Map Out Your Action Plan

It’s common for entrepreneurs to skip this step because the task is simple. To execute what’s necessary for the growth of your business, you must have an action plan. Your action plan should focus on 1 key goal for the week. That key goal should be broken down into doable steps and have deadlines for you to take action and get it done.

Prioritize Income Producing Activities (I.P.A’s)

If you find that you’re always doing things, but aren’t making money, you may be confusing being “busy” with being “being productive”. Busy work consists of scrolling through social media and checking your inbox every day. Setting up Facebook Ads and following up with a potential client, are productive things that will help your business grow. Make a list of what’s needed to grow your business, then highlight the things that directly create income.

Those are the things you should be prioritizing.

Focus on Results

Focusing on results does not solely mean to focus on what’s working. You also need to identify what isn’t working to make sure you’re investing your time where it needs to be. Your to-do list should consist of productive tasks that will make your business profitable. This my friend, is how you go from “wish and doing”, to complete tasks that result in growth.

Create A Personal Development Plan

A personal development plan doesn’t consist of grabbing a random motivational book on trendy topics. It’s about allowing yourself to grow in specific areas of your life as you grow your business. You can set goals for self-care and time management, then find resources that will help you improve in those areas. Once you have your resources, you can plan how you’re going to improve in that area.

Some things you can try are journaling, reading, and rehearsing affirmations on a daily basis. These are 5 crucial steps to developing a strategy that will allow you to grow a profitable business. If you’re ready to set your business up to bring in the profits, click here to register for my upcoming Goal Setting Workshop here.