Planning for Growth

Macksons has always been at the forefront of innovation in the Sri Lankan business landscape. Venturing into new marketing territories for smaller business enterprises or business simply just starting out require a lot of strategic planning. Here a few important key points on why meticulous planning is vital in growing and expanding your business the right way.

Investments

If you ever think of approaching an angel investor or venture capitalist to fund your future business goals, either party would require your business trajectory plan and market analysis. You don’t require a 500-page document, but merely a simple laid out financial plan and forecast on how their investment would be spent.

Realize Achievable Goals Immediately

When in the planning phase it is essential you set your SMART goals, this helps you note down which goals are Specific, Measurable, Achievable, Relevant and Time-Based.

These goals set overall milestones for your organization to achieve and top management to work towards, providing purpose and motivation to achieve.

An Asset on Its Own

If you ever decide to sell your prize business or position it for acquisition. Your business development plan will assist you in placing your company as an understandable model in the buyers' eyes. Alternatively having a plan makes your business attractive when on the lookout for top level management to steer your business in the right way.

Confident Decisions

As your business grows your biggest problem will be figuring out where to invest in, when to hire and how to expand. All of these are major spending decisions that you will have to make, pre-planning can give you confidence in these decisions and help the business grow faster.