How to Determine Your End Goal in a Business Development Plan

One of the best ways to determine your end goal is by focusing on your customer retention. This allows you to measure the level of service that you need to provide. Keep in mind that it costs more money to get new customers than to keep existing ones. Customer retention gives you a clear idea as to what realistic and achievable end goals look like.

Knowing the amount of income to expect from a customer over the business relationship (customer lifetime value (CLV)) is another great way to plan ahead. If your business depends on the loyalty of one or two customers, aim to expand out of this dependency, because losing even one of them could be detrimental to your business. Depending on the situation, and revenue generated, you can either increase or reduce your CLV.

Another great way to determine your end goal is networking. This increases visibility in your industry and ultimately puts you on a larger map. This helps in your business plan because it gives you an idea of how big your end goals can be and how much you can actually make as well as broadening your reach in your industry. Limiting your networking and focusing on ones that'll be beneficial to your company is the best way to go about it.

Remember to focus on three to five important goals that'll be beneficial for your business. Focusing on too many goals might leave you with eventually achieving none.