The Five-Year Plan: What Will Your Business Look Like in 2021?

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Where will you be in five years? For many of us, that's a question that's tough to answer. For businesses, doubly so. But forward-planning can be an essential skill for any business owner or manager, so in today's article, we'll explore a few strategies to help formulate your very own 5-year-plan.

2021: it may seem a long way off. Heck, it may even seem like a setting from a sci-fi flick, but the reality is that it’s just five years away. And while sixty months is also plenty of time to make real changes in your business, it’s vital that you spend that time in a smart way. With this in mind, below we’ll outline three essential strategies that will help you plan for the next five years in a way that’ll make them seem far less daunting.

Strategy #1: Forecast industry trends

The best way to plan for the future is to look at what’s gone before. Nobody can predict what’s going to happen with absolute certainty, of course, but you can take an educated guess. When it comes to business, the best place to look for historic data to use for forecasting is your industry competition. Collect up all the info you can about your key competitors’ performance over the last five years: sales, churn, profit and loss – whatever public data you can gain access to. You can also use less tangible info like service and product trends and use it all to forecast where your industry will be in 60 months.

Strategy #2: Have a plan for your “customer support”

Customer support usually refers to answering complaints and questions from clients, but in this case we’re using it as an umbrella term. As part of your five-year plan, you should ensure that you have contingencies for managing: customer engagement, customer service, the customer experience, and your customer relationship management (CRM). With all of these to think about, it’s no surprise that businesses are becoming more customer-centric all the time. Don’t forget that in order to provide a service that attracts, engages, and satisfies your customers, you need the right platform as a foundation. That’s why lots of UK businesses are choosing AutoVu CRM & FSM.

Strategy #3: Have a product or service roadmap

How far do you think you'd get on a trip to an unknown country without a map? By the same token, your business may have a tough time flourishing without a product or service roadmap. Put simply, a roadmap will lay out key milestones for where you’d like your service to go. This may be the introduction of new products, services, or even diversification into new markets. Whatever the case, your roadmap should become your company’s guiding light – providing a beacon as you move into the next five years of your life.

Now that you’ve learned the essential ingredients of a five-year plan, you’ll need the right software to support it. That’s where the AutoVu CRM & FSM platform comes in. Explore the site today to learn more, or call our friendly team anytime on 0845 474 8824.

About the author:

Rob Taylor

If you would like to know more about AutoVu and what we can do to help your business, why not check out our Frequently Asked Questions page, or Contact Us any time to discuss your specific requirements.

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