Growth Planning
Don't tie your business to a rigid 40-page plan.
Instead, adopt a ‘Growth Planning’ mindset that helps you:
Markets change faster than ever. Technology evolves at breakneck speed. And the pandemic has forever transformed the way we think about ‘work’.
A rigid 40+ page business plan can't keep up.
It can take days — or even weeks — to write a formal business plan. That's on top of all the research required.
You can't update traditional business plans quickly as markets change and your business evolves.
It's tough to implement a business strategy when the most important details are buried within a massive document.
Some lenders, such as banks and government agencies will require a traditional full-length business plan. Learn More
Growth planning is a quicker, more flexible way to figure out what works for your business — no matter what stage you're at.
Create a one-page outline of your idea: what problem are you solving? Who do you think your best customers will be? How much money do you expect to make?
Do research to predict the potential of your idea. Talk to your ideal customers, look at industry data and write your findings down.
Look at all the feedback you gathered about your idea. Does it mesh with what you expected during the ‘plan’ step? Did anything surprise you?
Update your one-page plan based on what you learned. For example, you might need to change your target audience or lower how much you plan to charge.
Document the vision for your business by creating a one-page business plan.
Build a budget and set financial goals before you launch — then you'll be 40% more likely to achieve them.
Track your performance against your goals and initial budget. Then evaluate your progress every month to stay focused.
Did you hit your financial goals for the month? If not, looking at the numbers will help you figure out ways to improve cash flow, revenue and profit.
Create a quick one-page plan to think through your goals, target market, business model, competitors and more.
Know whether or not you're on track to hit your goals by forecasting sales, expenses, and cash flow.
Spot new opportunities while holding yourself accountable to your goals. Simply compare your forecast against your actual sales and expenses each month.
Adjust your plan based on the numbers. Maybe your business model needs tweaking. Or your prices are too low. Or your product needs to change.
30%
Businesses that continually track against their plan grow 30% faster than those that don't, according to a study in the Journal of Management Studies.
40%
Documenting and reviewing your goals makes you 40% more likely to achieve them, according to a study by the Dominican University of California.
129%
Entrepreneurs with a plan are 129% more likely to push forward with their business beyond the initial startup phase and grow it, according to a study in the journal Small Business Economics.
This is a budget-friendly option for entrepreneurs who are comfortable crunching numbers. All you need is a single-page plan, a spreadsheet and the right mindset.
Time Investment
Financial Investment
LivePlan software gives you everything you need for Growth Planning: financial dashboards, cash forecasting tools, video tutorials and expert help via chat.
Time Investment
Financial Investment
