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Studies have suggested that most companies have the tendency to stay small. That is, only one percent of all companies established reach the $250 million annual mark in revenue sales; and only 0.036 percent will ever reach the $1 billion milestone. Given these alarming figures, most business owners can get discouraged to start a new business. However, many financial analysts agree that even small businesses can successfully transition to relatively well-off medium or large company. There are many techniques suggested to achieve such growth; but all recommend developing a comprehensive business strategy as the simplest and easiest way.

Financial analysts agree that a proper business strategy has to be detailed without being cumbersome to analyze and implement. In the effort to seem thorough, many companies make the mistake of overanalyzing the situation and including too many references in their proposal. Too much attention is paid to forecasts and potential risks that the research and goals arrive at an impasse.

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Analysts agree that one of the major reasons companies do not transition properly is lack of implementation. Companies succumbing to this pitfall usually have beautifully written proposals and strategies that are quickly for naught absent concrete development and application.

Business owners will find many helpful tips on the Internet on how to create a business strategy. These business advice columns vary but all agree that there comes a point where strategies have to leap out of the paper. There is a thin, but distinct, line that separates caution and timidity. This does not mean that creating a business plan or a strategy is ineffective; merely that business owners should know that any endeavor requires taking risks to put fruition into plans.

Aligning planning and application is the easiest way to guarantee business success, especially if both tasks are performed prudently.

Bertrand Management Group creates business solutions that help companies grow. For more information on the firm’s services and business recommendations, follow this Twitter account.