Over the last year especially, most of us have seen that no business plan is set in stone. And given that volatility, uncertainty and complexity look set to be features of the operating landscape for the foreseeable future, businesses need to find new ways to stay resilient.
A new Business Growth Planning Stress Test tool from White Space Strategy is designed to help you think through your growth plan and decide on the best course of action.
Today’s business plans must be responsive
From buyer demand through to your ability to trade in-person, many if not all aspects of the market and operating landscape are currently in a state of flux. In this type of environment, you might be forgiven for thinking that any real effort to draw up a ‘plan’ is going to be wasted. After all, why plan for the next financial quarter when you don’t know what will happen next week?
In fact, planning is more important than ever. But it requires a new approach. If you are working with a single forecast and an inability to change course, any plan is in danger of becoming swiftly out of date. You need to respond, and if necessary, repivot, quickly.
Enter growth planning and stress testing
Stress testing your business growth plan will help you to test multiple sets of situations involving changes relating to all manner of drivers and events. It allows you to gauge how various sudden changes in market conditions might affect your business, ask ‘what if’, and get answers you can trust.
The benefits of this approach include the following:
- Ensuring that, as far as possible, the growth plan ‘make sense’
- Identifying any potential improvements and bottlenecks
- Increasing the confidence and reducing the stress levels of decision makers
Access our business growth planning stress test
When it comes to your growth strategy, the initial planning stage is obviously crucial. However, alongside initial planning, iterative planning is crucial, too.
In other words, you should revisit your plan at regular intervals, consider new information and market conditions – and alter your course where necessary.
Our new growth plan stress testing resource is designed to help you with this. Capable of being put to work instantly, it helps you to identify blindspots, factor in new information, and think about fresh opportunities.