At the BLOQ parq (tBp), we champion your entrepreneurial spirit and support it by creating innovative spaces that welcome new businesses with fresh vision. A pivotal part of that vision includes creating a blueprint for your business, known as the business plan.
But what does it take to make that plan a bigger, better version year after year? It turns out there are a few above and beyond factors you can incorporate, laying the groundwork for your company’s long-term success and growth.
Create A Visual Analysis
An excellent visual is the SWOT analysis. This analysis can effectively illustrate the Strengths and Weaknesses existing in your internal structure, as well as the Opportunities and Threats external to your organization. It is a visually impressive and robust way to convey critical, insightful knowledge about your business and plans for effective internal and external growth.
Milestones Make It Actionable
Long-term goals are great, but breaking them down into smaller, actionable milestones, makes them achievable and encourages real growth. Milestones allow a consistent evaluation and keep you and your team on course. With your eye on the prize, being able to course-correct from month to month means no big surprises when year-end reporting arrives.
Source: U.S. Census Bureau
Get Ready to Grow
Knowing where there is an opportunity for growth can lead to big wins in boosting your business plan. While most companies narrow their focus on selling more of what they already have to the same client base, you may want to stretch beyond the expected. By building diversification into your business plan, you can expand your business’s potential with the plotting out of new products and services for your existing client base; or for a different market entirely. Achieving success that lasts means understanding opportunities for expansion and diversification, so be sure to build it into your vision.
At tBp, supporting entrepreneurs in their pursuit of success is at the forefront. We cultivate an environment primed for inspiration and ready-made for growth. You’ll find nothing is impossible when you make tBp a part of your plan.