We’re coming to the end of our six-week challenge on business planning. Much of what we’ve discussed so far has been actionable steps like writing down your goals, as well as mindset pieces like the one about stepping out of your comfort zone. Today is all about putting together everything we’ve discussed so far and combining it into something that can give you that explosive growth you want.
You see, when you use the basic concept of exponential growth to your advantage, it doesn’t take very much progress in any one area to see big results. We briefly touched on this idea back in week three when we talked about creating a plan to add members to increase our income. I want to expand on this whole idea in a few different ways and tie it all back into setting goals and business planning in general.
The idea is to make progress on your goals and stack them in a way that gives you leverage. Here’s an example. Let’s say your first goal is to grow your current part-time income by $2,000 a month so you can quit your day job. You come up with a way to get that done by growing your traffic, subscribers, and customers, and you accomplish this goal. Since you were then able to quit your day job, you have more time and energy to put into growing your business. You thus set more ambitious goals and add another $5,000 to your bottom line. Instead of taking everything out in profit, you decide to continue to work on this whole leverage idea.
You set aside $100 a month to try out Facebook ads to see if you can turn that into a profitable income stream. You take another $200 to start outsourcing some of the ongoing tasks that hold you back. You hire your first VA and now you’re really making progress. This in turn gets the attention of a fellow online entrepreneur in a related niche who wants to work on a project together. Do you see how this works?
One goal builds on the next and they all work together to generate exponential growth. Of course, this is just one little example. This can work in a myriad of different ways and will, of course, differ from one business to the next. My point is this…
If you start to think strategically and keep one eye on your next few moves, you can start to stack your efforts and engineer that explosive growth in a lot less time than you may think. Try it!
Let me know how you’re applying this concept to create exponential growth in your business. You can email me at firstname.lastname@example.org or comment below.
In case you missed one of the earlier posts, here are links to all of the posts in the Business Planning Series: