Growth Planning happens
• when you start a new venture
• when you create a new offering
• when you review your quarter or year
AND are the intersection of “New” and “Change”
Questions that you can solve through Growth Planning
• how do we reach suitability without outside funding?
• what metrics need to be true for us to hire more people?
• what should our pricing be?
Getting Started: The Growth Plan Matrix
Work through a simple exercise to design the growth you want to experience:
Step 1 – Create a table with 5 columns:
Step 2 – Focus on the pains your product or service solves
Clearly define the true underlying issues you solve for your clients.
For example, one of my clients doesn’t “do marketing or branding”. They help non-profits claim donations they’re missing out on.
Step 3 – Define your offering to resolve those pains
Dive into WHAT you do and why it matters (don’t focus too much on the HOW just yet, that’s for growth operations design)
Step 4 – Set the price
Set the price that gives you the margins you’re shooting for after calculating the costs it takes to deliver all your offerings
Step 5 – Calculate Revenue
Is this the ideal revenue you want? Keep in mind churn and client retention if you have a model where clients pay monthly.
Sample questions you can then tackle after Initial Planning
• how do we go to market based on our plan?
• which target market should we spend most of our energy in?
• what are the core actions our teams should focus on as we scale?
• how do we create comp packages for our teams as we reach out goals?