How to Prepare for Growth in 2023

Is your team ready to grow? Be prepared for 2023 by re-examining your priorities and market positioning, then evaluate your best options for growth in the new year.


October 11, 2022


Insights, Global

As another new year fast approaches, Q4 of 2022 is the perfect time to review your strategic business plan for growth in the next year.

Here at Credico, we suggest looking at your business’s long-term vision and goals and taking the time to analyze and identify how your business has progressed so far this year and how it may need to shift over the next 12 months to hit your goals.

It’s important to remember where you’re heading and why. A concrete next step would be to complete a thorough SWOT analysis to inform you of economic changes and the new competition in your marketplace.

With this updated understanding of your positioning, you can then consider the following options for growth:


Diversify your marketing channels

Diversifying your marketing channels ensures that you reduce risk by not being solely reliant on any one medium alone to produce leads. Spreading your risk out into different verticals or channels allows stability should there be any turbulence in the market (Think about a good economic response to a pandemic or recession). Being able to compensate for any shortfall by leaning on alternative marketing channels will position you well for consistent growth. Diversifying also keeps your company ahead of the curve and allows you to adapt to new marketing trends.

Diversification can also help attract new clients and better promote your company. Maintaining multiple marketing channels provides a complete omnichannel experience for your prospects and allows you to gather comprehensive data to feed into and further enhance your marketing strategy.


Increase your business credit score

Take credit into consideration; investment is almost always required for fast-paced growth. Check how your credit rating is right now and consider what steps you may wish to take in the coming months to improve your position should you want to take on investment to support your growth strategy. It’s all about considering how your company will look to reputable business lenders.

Developing a plan for your businesses is the best way to ensure KPIs are broken down into digestible, achievable actions. Apply these simple tips and watch how quickly your business achieves your growth objectives for 2023.

If you’re ready for growth, get in touch with Credico to uncover opportunities for launching in new locations and through different marketing channels. High-growth brands can instantly leverage Credico’s infrastructure, resources, and leadership rather than pivoting their own businesses, which can take months or even years to meet the growth objectives.

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