Your business can be divided into 4 segments or component parts.

I call them the 4 MAIN COMPONENTS of a business.

Through extensive research and study of the most successful companies around the world, I have also determined that there are 4 common focal points found in a successful strategic plan for business growth and profit generation. These common focal points, or 4 MAIN COMPONENTS, are interrelated and can be put together like the pieces of a puzzle.

When you clearly identify them in your own business and then strategically harness their power to function consistently, the 4 CORE COMPONENTS can produce EXPONENTIAL business growth. And that kind of business growth leads to increased bottom line profits!

So what are these 4 MAIN COMPONENTS for a successful strategic plan for business growth and profit creation?

Let’s briefly explain what these 4 MAIN COMPONENTS are and what they have to do with developing a strategic plan to successfully grow your business and increase your profits.

The 4 MAIN COMPONENTS

MAIN COMPONENT 1 it’s your business VISION, GOALS AND ASSIGNMENT.

When you consider the VISION, GOALS and MISSION of your business, your primary goal falls into 2 parts. First, you need to carefully analyze and clarify which direction your business is heading at the moment. What is your VISION for your business? What are your personal goals and business objectives? And finally, what is your Mission for your business? Do you have these 3 clearly established? You need to do this to start seeing real growth in your business.

Second, you need to determine if you need to change course to develop the business growth you want and the increased earnings you need. Having clarified your VISION, GOALS, and MISSION, you will then know in which direction you want to head your business in order to generate the business growth and increased profits that you desire.

As you work on and implement any business growth plan, keep referring back to CORE COMPONENT 1, your VISION, GOALS AND MISSION.

CORE COMPONENT 1 is the guiding direction for your business, like a compass pointing to “True North”.

MAIN COMPONENT 2 of the process of business growth and profit generation is its Business operating systems, administration and training.

I like the MAIN COMPONENT 2 of the engine that powers a car. When you consider CORE COMPONENT 2 in your own business growth plans, you accomplish 4 things:

1. You perform a review of your business engine; that is, your staff and contractors. How can they play a positive role in growing your business and increasing your profits?

2. Consider their hiring practices. How they can impact the successful growth of your business from the very beginning… when you hire others to join you.

3. You evaluate and design your management and training processes to support the business growth you seek. Y,

4. Most importantly, you strategically develop the specific operating systems your company must have in order to run your business effectively and efficiently; whether or not you, the business owner, are present at work.

Do you drive a sizzling clunker or a finely tuned race car? CORE COMPONENT 2 answers that question.

Once you have CORE COMPONENT 2, your business systems running smoothly, it’s time to start filling the tank.

MAIN COMPONENT 3 of your business growth plan is Strategic Marketing, Lead Generation and Lead Conversion systems

When you consider CORE COMPONENT 3 in your business growth plans, you need to analyze your systems to serve your current customers and customers, to identify and get more of your ideal customers and customers, to market to your unique target market, and to convert more prospects. . to generate more sales and increase your bottom line profits.

Finally, a successful strategic plan for business growth and profit generation should never leave aside the very important issue of MONEY.

MAIN COMPONENT 4 of your business growth plan carefully analyzes Financial situation, cash flow and reports.

In CORE COMPONENT 4, your main focus is reviewing the systems you have in place to know where you are financially, manage your money, control it, and keep it coming in. What changes do you need to make to your financial operating systems to accelerate your business growth? Where is your money? How is it being spent? Do you have operational systems that you have designed and implemented to control expenses and costs? Is your money constantly coming in? What cash flow “production” strategies are unique to your company? Are there other “production” strategies that I can immediately implement? Is there any other way your business can “manufacture” additional cash flow?

Well there you have them.

Those are the 4 MAIN COMPONENTS of a successful strategic plan to grow your business and increase your profits.

Knowledge comes first. You got it.

Now, the action must come!

So it’s time for you to take action.

ACTION STEPS:

Follow these 4 steps and make your business growth plans roar like the mighty sound of a race car crossing the finish line first!

1. Write on a separate sheet of paper each of the 4 MAIN COMPONENTS of your business as described above.

2. Analyze each MAJOR COMPONENT in comparison to your current business operations.

3. List the missing focal points in your business compared to each MAJOR COMPONENT.

4. Propose only 1 action you can take to improve on each of the 4 CORE COMPONENTS.

If you have completed all 4 action steps, then you have some momentum. Constantly focus on the 4 CORE COMPONENTS of your business. Keep working to improve on these 4 MAIN COMPONENTS.

Because if you do, you’ll be developing a successful and proven plan to not only grow your business, but also increase your profits!

This article is an excerpt from the MasterMind Business Growth System, written by noted attorney and business growth expert, Miguel Méndez, Jr., Esq.

Copyright 2008. Miguel Méndez, Jr. All rights reserved.