Add aspirations and results to the SWOT (some do SOAR (strengths, opportunities, aspirations, and results) as a separate activity) to ensure that your vision for your business is incorporated in your goals and objectives.
Conduct a market opportunity analysis and look for unmet needs that align with your objectives.
Maintaining office space and furnishings, paying utilities, paying for computers and telecom services—these expenses add up and can take a toll on your bottom line.
If you are running a business such as a manufacturing plant, where everyone needs to be at one location, you can’t avoid some of these expenses.
Doing a thorough analysis and review will enable you to implement more effective strategies, tactics and techniques.
The type of tactical planning you complete as you strategize is important because it forces you to make difficult choices and difficult decisions.
More companies are keeping their operations nimble and cutting expenses by promoting telecommuting.
Giving workers the freedom to work remotely increases productivity while cutting costs, and it allows companies to hire the best talent available, no matter where they are located.
Too often, entrepreneurs become so confident in their success that they fail to take into account market changes and operational realities.
As you develop your action plan, you have to assess whether or not you can afford to execute your growth strategy.