Seize The Day: What Are Your Plans for Growth in 2017?

Posted on: February 10th, 2017

To grow and remain strong in 2017, you need a strong growth strategy plan. Choosing to invest in a growth strategy plan involves more than simply envisioning long-term success.

Rather it works to smooth out your business’s inefficiencies, refine your strengths and create greater customer-centricity.

Here are seven ways in which you can shape your growth strategy to achieve your business goals.

1. Identify your customers:
Your customer is what keeps you in the business. Your product or service solves a certain problem for a certain audience. Take time to identify that audience, learn all you can about them and make appropriate changes to your growth plan to cater to them.

2. Define your differentiators:
Identify what sets you apart from your competitors. You may differ from them on parameters relating to product, price or customer service. Once you identify your differentiator, use it to create a value proposition to attract other consumers.

3. Classify your key indicators:
Classify your key indicators by investing in measurement parameters. Once you identify the key indicators that directly impact the growth of your business, choose to invest appropriate time and resources to build on those areas.

4. Recheck your revenue streams:
Your revenue streams are the lifeblood of your business. Check your current revenue streams and see if you could add to them to make your business more profitable. While adding new streams be careful to choose revenue streams that are viable and sustainable in the long run.

5. Build on your strengths:
Very often organizations shape their growth strategy by focusing on eliminating their weaknesses. However, the opposite works equally well. Build your strategy to suit your strengths and use them to grow your business.

6. Keep an eye on your competition:
It is wise to be aware of your competition. Is your competition excelling at something that your company is struggling with? Or are newer competitors choosing innovative and unique ways to fuel their growth plans?

Explore the reasons as to why your competitors have made alternate choices and learn from their failures and successes.

7. Invest in talent:
Your talent is your greatest strength. Make sure you hire people who are motivated and inspired by your company’s value proposition, and those who fit into your company’s culture. The right talent will help channelize your growth strategy in the right direction.

Developing a growth strategy requires careful planning keeping in mind changes in the market and business environment. Ensure a strong 2017 by putting together a personalized growth plan that propels your strengths and enhances customer centricity.

In the acquisition financing arena, capital availability is destiny as companies require reliable access to capital to grow over the long term. Unforeseen capital needs usually arise when acquirers least expect it. This can cause some concern for the acquisition financing provider, especially when covenants tighten up and that working capital availability is utilized faster than expected.

Mezzanine debt borrowing is usually a straightforward activity that many companies use for funding of transitional growth. Mezzanine debt lenders are highly transparent about their due diligence approach and their post-closing loan management making it easy for companies to engage with.

Elections have consequences and positive ones at that for the acquisition financing middle market. While much media attention is paid to the direction of the yield curve and the Fed’s likely rate cuts, scant attention is paid to the more important drivers of the acquisition financing market – business psychology and regulatory climate.