He also has deep insights in developing new digital business models and is passionate about social media.
This choice especially depends on the approach of a company's product/market and the latter's taste for risk.
Growth planning is a strategic business activity that enables business owners to plan and track organic growth in their revenue.
Whatever your motivation, there are various ways to grow a company.
These ways are clearly presented in the Ansoff model, a strategic tool used during the development of a growth strategy.
A Business plan focuses on the business goals and background information about the organization and key team members.
It is commonly developed for a 3-5 year time frame and is useful when seeking external funding from either banks or investors.
On the other hand, a Growth Plan is short term, typically 1–2 years or less.
It focuses at a much deeper level on the go-to-market section usually seen in a Business Plan.
Businesses in situations like these will develop a Growth Plan to prioritize resources and take corrective action to stay on track.
A Growth Plan only contains the elements of a business where the customer can see value.