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Growth hacks: 5 tips to achieve your business goals faster [Video]

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Follow these strategies to fast-track your rise to success.

1. Get specific on your business plan

Every big business started as a small business. Making that transition requires growth, and growth requires a strategic approach. It won't just happen.

A detailed business plan with well-defined, specific objectives is the most fundamental growth hack you can pursue. Specificity really matters. Make sure your objectives are measurable, and make them as precise as possible.

"Become the dominant supplier of industrial cabling in Victoria" is not a specific enough goal. "Double our 2020 revenues for industrial cabling" is much better. And that might require equally specific sub-goals: "Become the top-ranked provider on Google for the 5 biggest searches relating to industrial cabling."

It's also crucial to ensure that you adjust your plans as markets change. You need a 5-year plan, but you also need to be revising that plan regularly.

That can require major shifts when unexpected developments happen (pandemic, anyone?). As legendary investor and business builder Warren Buffet …