Small business growth does not just happen. It requires planning.

It might seem like some owners get lucky. There is something to be said for being in the right place at the right time.

But usually if you take a closer look at those lucky individuals who developed a product at a time when there was a huge demand for it, you will find that they recognized the need for the product beforehand. They did some research. They talked to people and they planned. Sometimes they even created a new market where none existed before.

The details depend on the type of company, which is why individualized business coaching has become so popular. There are some bits of general advice that apply to all businesses. Here are a few of them.

Define Your Goals

It is not enough to say that your goal is to grow your company. You need to specifically define how much growth you expect to see in a specific length of time.

Defining your goals will help you to judge your progress as time goes by. You can create milestones and celebrate every time you reach one of them.

Celebrating is important because it helps you maintain a positive attitude. If you get down in the dumps, you can become depressed and you will quickly lose your energy.

Big companies use “SMART” goals to help their employees decide where they would like to be in one year, five years, ten years, etc. SMART goals are Specific, Measurable, Attainable, Realistic and Timely. When you set your own goals, keep those five words in mind.

Do the Research

Some companies start up without doing the necessary research. They don’t know what the competition is like. They don’t know who their customers will be. Those companies fail as a result.

One of the plans often used in business coaching is a sales and marketing plan. Established companies use the plans to decide where to best spend their advertising dollars and to create sales goals for their teams.

Where does the information in a sales and marketing plan come from? It comes from research.

You need to know your competition. You need to know about the industry. You need to identify your target audience, those people who are most likely to buy your products or services.

Do the Math

Money is something that all businesses need in order to grow. Once you have defined your goals and done the research, do the math to figure out just how much money you will need to achieve your goals. Then figure out where that money is going to come from.

The basic advice you have just read does not guarantee small business growth but it does give you a starting point. The next step might be individualized coaching.