Getting a business up and running is difficult enough, but finding a way to take it to the next level is an extremely daunting task. Once you’ve reached a certain level of stability and you’re breaking even regularly, you can start to turn your mind to greater things. There’s always room for improvement, but trying to achieve rapid growth can be just as risky as starting the business in the first place. As a result, you need to be extremely careful with how you go about it. Drawing up a plan is essential – here’s how to create an effective plan for your business:

• Finances
  
  

  You should look carefully over all of your finances, analysing any returns you have made on any initial investments you made. Break down how much money you make a month. Compile projections for next year’s business and for the following years, too. Is your business going to be a permanent source of income for you, or do you use it to support your family whilst the children are young until you can take up employment again? If you want your business to grow, you can think about how much money you want to re-invest and make a financial plan for the growth of your company. If money is currently tight, consider getting in touch with investors and sponsors to secure funding for your business’s growth.

• Resources
  
  How effective is your office space? Is working at home still effective for your or has your business out grown the kitchen table? Do you have space to take any one else on to help you, or would you need an office?
  
  If you have any overheads for running your business, make sure you take stock of these regularly and if you are using more stationery or other items more often than you thought, is it possible for you to buy in bulk and save money? Do you have the best telephone and broadband package for the type of use you require? Taking care of these smaller expenditures can leave you with more profit at the end of each month.

• Marketing
  
  You will already know there are countless different ways to market your business. In these turbulent economic times, customers are constantly on the lookout for bargains. There are plenty of daily deals companies in the market to help you attract new customers, with their emails about your offer reaching thousands of potential new customers. Consider whether there is a place for offering discounts in your business over the next 12 months – for example if you run a tickets company, can you entice people with regular London theatre offers perhaps, or maybe some group booking discounts? Or could you introduce a loyalty card system? Once people have tried something, they’re going to be more likely to come back again and again.
  
  Success in business is down to good planning. Think about where you want your business to be in 3, 6 and 12 months’ time. Set clear targets and then focus on the details – identify inefficiencies, opportunities and risks. Get planning your business’s future today.