But it will be harder. Let's face it: some companies sell the same product year after year without making any changes. Look at WD-40. They completely own the do-it-yourself lubricant niche --all they have to do is take orders and keep the shelves stocked. But their growth rate was negative 4.6% this past year. Obviously they are neglecting one or more critical factors. So yes -- you need to consider every critical success factor -- even if you don't do anything about it you have to think about it. Increase sales but neglect service - what will happen to customer satisfaction? It will probably go down, which will affect repeat sales, your reputation in the market place, and ultimately new sales. Improve product quality but neglect employee retention?
What will happen to quality next year? Likely it will go down. And then what will happen to sales? As you can see, each factor's improvement synergistically contributes to your company's survivability and prosperity. Can you do everything at once? Most businesses don't have the resources for that, so something has to give -- right? Or you can create another breakthrough. This time, create a breakthrough in planning -- one which commits you to some level of advancement for every one of the critical factors. This planning task is not as big as you might think from reading the above. Regardless, you may still think you can't afford the time?
Look - any amateur can grow a business when the economy is going gangbusters, but it takes a purpose, inspiration, and attention to detail to increase profits while the rest of the world is in a recession. Having a strategic plan -- one which considers all the critical success factors - is a sure way to improve the odds in your favor. --PL Paul Lemberg is the President of Quantum Growth Coaching, the world's only business coaching franchise system built from the ground up to rapidly create more profits and more life for entrepreneurs.
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