{"id":8836,"date":"2020-08-06T11:28:10","date_gmt":"2020-08-06T09:28:10","guid":{"rendered":"https:\/\/www.dazzlepop.net\/site\/?p=8836"},"modified":"2020-08-06T11:28:16","modified_gmt":"2020-08-06T09:28:16","slug":"3-signs-your-business-plan-needs-to-change","status":"publish","type":"post","link":"https:\/\/www.dazzlepop.net\/site\/3-signs-your-business-plan-needs-to-change\/","title":{"rendered":"3 Signs Your Business Plan Needs to Change"},"content":{"rendered":"
\"3<\/div>\n

3 Key Signs Your Startup’s Business Plan Needs to Change<\/h3>\n\n\n\n

No matter how thorough your business plan<\/a>, some things inevitably need to change. Here’s how to know when — and how — to adjust your plans mid-stream.<\/p>\n\n\n\n

Pivoting is expensive, but so is making smaller changes to your business plan<\/a> to address the present-day realities of your market, your customers and your company. Revising your plan and implementing those changes<\/a> can be time-consuming and expensive, and it can result in considerable operational upheaval.<\/p>\n\n\n\n

But sometimes that’s exactly what your\u00a0small business must do to ensure future success<\/a>.\u00a0How will you know it’s time to re-write your small business<\/a>‘s playbook? Here, three key signs:<\/p>\n\n\n\n

\"3
3 Signs Your Business Plan Needs to Change<\/figcaption><\/figure>\n\n\n\n

1. Your growth is stagnant.<\/h2>\n\n\n\n

In a startup, momentum is everything. Growth provides the resources to continue to expand, beat the competition, improve quality and service, and increase efficiency through economies of scale.  <\/p>\n\n\n\n

Unfortunately, most small businesses can’t afford to simply plow additional funds into advertising in order to grow. Keeping customer acquisition costs down — and churn rate down as well — is key in the early stages for any bootstrapped startup.<\/p>\n\n\n\n

In that case, growth might require jettisoning — or at the very least de-emphasizing — some products to focus on more profitable products. (See Steve Jobs<\/a>\u00a0when he returned to Apple<\/a> in 1997.) That may require you to shift employees into new seats: sales, service, operations, etc.\u00a0<\/p>\n\n\n\n

Do this and the result might be a ripple effect of positives: Shifting employees provides opportunities for them to learn new skills, demonstrate new talents and learn about other functional areas. Moving a few employees into different roles can help re-energize and re-engage a number of other people.<\/p>\n\n\n\n

Growth could also require introducing new products or services, especially when they complement existing offerings. Complementary offerings are a great way to re-engage existing customers as well as to bring in new customers who may then purchase other products or services.<\/p>\n\n\n\n

Read more: inc<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

3 Key Signs Your Startup’s Business Plan Needs to Change No matter how thorough your business plan, some things inevitably need to change. Here’s how to know when — and how — to adjust your plans mid-stream. 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