Growth Strategy Templates

Description

• 1. Increasing Revenue
  
  • - Ways to increase number of units sold
    
  • - Optimize prices
    
  • - Increase share of wallet (fancy term used by Consultants to mean that the client captures more of a typical customer’s spending in a particular area than it previously did; analogous to Market Share)
    
  • - Determine which products/divisions have the largest growth opportunities and allocate investments accordingly
• 2. Growth Drivers (approaches to growth and factors that influence capacity for growth)
  
• - Identify changing customer preferences/demands and respond accordingly
  
• - Invest in and/or reformulate marketing strategy
  
• - Investigate means and requirements to expand distribution channels
  
• - Investigate means and requirements to expand capacity
  
• - Investigate means and requirements to expand sales force / customer service
  
• - Investigate means and requirements to expand product/service portfolio (see description of Market Entry or Expansion below)
  
• - Make an acquisition or enter into a joint venture (see description of Merger/Acquisition/Joint Venture below)
  

A growth strategy is your blueprint for success, guiding your business towards expansion. It defines what you want to achieve, be it increased revenue, wider market reach, or a loyal customer base. By analyzing your strengths, weaknesses, and market landscape, you choose tactics like targeted marketing, product innovation, or strategic partnerships. The key lies in setting measurable goals, tracking progress, and adapting to challenges. Remember, growth is a journey, not a destination, so be flexible, experiment, and celebrate every milestone on your path to the top!