My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Starting a Business / Project Grow

Look Ahead to These 4 Business Plan Milestones

Look Ahead to These 4 Business Plan Milestones
Image credit: Jeff Seeger | Flickr
- Entrepreneur Staff
Staff Writer. Covers media, tech, startups, culture and workplace trends.
2 min read

As you pitch investors, they will want to know where you see your company going and what goals you aim to accomplish. Here are four milestones to incorporate into your plans for the future.

You turn a profit. Whether you think you’ll reach profitability this year or five years from now, it’s important to consider when you’ll be in the black and when investors might start seeing a return.
Read more: 8 Questions That Will Help Set the Right Expectations With Investors

You expand. Success for your business might mean a new location in an adjacent town, becoming a franchise or building markets overseas. It might even mean moving from your garage to a warehouse, and getting some proper infrastructure in place. Consider how your company might grow so you staff accordingly and plan a product or service that will evolve with your business.
Read more: How to Overcome 4 'Frightening' Milestones

You reach 1 billion customers. You should have a sense for how much your company might grow in the first year and even the first five years and what share of the market you’d like to capture. Customer growth can help you predict revenue growth so make sure you know what number spells success for your concept
Read more: 6 Keys to Proving a Viable Startup Business Model

You staff up. If you are bootstrapping your company, your first real hires are a vote of confidence in your vision for the company. They’re also a turning point, since it means you can start handling more serious expenses. Know when you’ll be able to handle the extra costs to keep up with demand for your products or services.
Read more: 7 Tips For Hiring The Best Startup Talent

How to Make a Business Plan and Actually Follow Through