In recent years, the intersection of agriculture and biotechnology has opened up exciting avenues for innovation, particularly in the realm of plant breeding. With the advent of CRISPR technology, a powerful tool for precise gene editing, entrepreneurs are now presented with unprecedented opportunities to revolutionize crop improvement. This emerging field not only promises to enhance agricultural productivity and resilience but also addresses critical global challenges such as food security and sustainability. As the demand for high-quality, disease-resistant, and climate-adapted crops continues to rise, starting a business focused on CRISPR plant breeding can be both a lucrative venture and a meaningful contribution to society. In this article, we will explore the essential steps and considerations for launching a successful plant breeding business that leverages the transformative capabilities of CRISPR technology. From understanding the science behind gene editing to navigating regulatory landscapes and developing a robust business plan, we will guide you through the process of turning your vision into reality.

The global market for plant breeding, particularly through innovative technologies such as CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats), is experiencing significant growth. As of recent estimates, the agricultural biotechnology market, which encompasses CRISPR plant breeding, was valued at approximately $21 billion and is projected to reach around $40 billion by 2028, growing at a compound annual growth rate (CAGR) of over 8% during the forecast period. This expansion is primarily driven by the increasing demand for high-yield, disease-resistant crops that can withstand the challenges posed by climate change and a growing global population. Additionally, regulatory advancements in several regions are facilitating the acceptance and commercialization of CRISPR-modified plants, further boosting market potential. For instance, countries like the United States and Argentina are leading in adopting more permissive regulatory frameworks for gene-editing technologies, allowing for faster development and release of CRISPR crops. Moreover, the rising awareness among consumers regarding food security and sustainability is propelling investments in biotechnological advancements, making it an attractive area for new businesses. With a notable increase in venture capital funding directed towards agricultural tech startups, entrepreneurs entering the CRISPR plant breeding market can tap into a lucrative and rapidly evolving landscape. Furthermore, the global shift toward organic and sustainable farming practices is creating opportunities for CRISPR technology to enhance traditional breeding methods, thereby addressing both productivity and ecological concerns. This convergence of technological innovation, market demand, and supportive regulatory environments presents a promising avenue for individuals and companies looking to establish a plant breeding CRISPR business.

Identifying the target market is crucial for the success of a CRISPR plant breeding business. The primary consumers of CRISPR-modified plants can be divided into several key segments:
1. Agricultural Producers: This group includes farmers and agricultural companies looking for innovative solutions to enhance crop yield, resilience, and pest resistance. These producers are often the first adopters of new technologies that promise to improve their operational efficiency and profitability. Targeting large-scale commercial farms, specialty crop growers, and organic producers can provide access to a significant market that is increasingly interested in sustainable practices.
2. Seed Companies: Established seed companies are always on the lookout for advanced breeding techniques to improve their product offerings. By collaborating with these companies, CRISPR plant breeding businesses can offer them tailored solutions that enhance their existing seed lines or help develop new varieties that meet emerging consumer demands.
3. Food and Beverage Manufacturers: Companies in the food industry are increasingly focused on sustainability and health. CRISPR plants can be marketed to food processors and manufacturers looking for ingredients that are more nutritious, have a longer shelf life, or are produced with lower environmental impact. Educating this market about the benefits of CRISPR technology can lead to partnerships that enhance product lines.
4. Retailers and Supermarkets: As consumer awareness of sustainable and healthy food options grows, retailers are seeking to stock products that align with these values. CRISPR-modified crops can be marketed as innovative solutions that meet consumer demands for sustainability and quality, potentially allowing retailers to differentiate themselves in a competitive market.
5. Research Institutions and Universities: Collaborating with academic and research institutions can be beneficial for CRISPR plant breeding businesses. These organizations often seek partnerships for research and development, which can lead to new applications of CRISPR technology in plant breeding. This segment can also serve as a source of funding and credibility.
6. Environmental and Conservation Organizations: Non-governmental organizations focused on environmental sustainability may be interested in CRISPR technology as a means to develop crops that require fewer resources, such as water or fertilizers. Engaging with these organizations can enhance the business's reputation and open up opportunities for grants and funding.
7. Consumers: Finally, the end consumers themselves are an important market. There is a growing segment of consumers who are interested in genetically modified organisms (GMOs) and CRISPR technology, especially when it comes to the potential benefits of improved nutrition and reduced pesticide use. Educating consumers about the safety and advantages of CRISPR-modified plants can help create demand at the retail level. By understanding and targeting these diverse segments, a CRISPR plant breeding business can effectively position itself in the market, develop strategic partnerships, and ultimately drive growth and innovation in the agricultural sector.

When considering the establishment of a plant breeding business utilizing CRISPR technology, it's essential to define a robust business model that aligns with market needs, regulatory landscapes, and technological capabilities. Here are several viable business models for a CRISPR plant breeding enterprise:
1. Research and Development (R&D) Focus: This model emphasizes innovation and the development of new plant varieties using CRISPR technology. The company can partner with universities, agricultural research institutions, and government bodies to conduct cutting-edge research. Revenue can be generated through grants, research contracts, or by licensing new plant varieties and technologies to agricultural firms.
2. Seed Production and Sales: A straightforward approach involves breeding and producing CRISPR-modified seeds for commercial sale to farmers and agricultural companies. This model requires an understanding of market demands and compliance with regulatory standards. The business can differentiate itself by offering seeds that are resistant to pests, diseases, or environmental stressors, thereby meeting the needs of modern agriculture.
3. Contract Breeding Services: Offering CRISPR-based plant breeding as a service to other agricultural companies or research institutions can be a lucrative model. This would involve collaborating with clients to develop specific plant traits tailored to their needs. Revenue can be generated through service fees or profit-sharing agreements based on the success of the developed traits.
4. Licensing and Intellectual Property Management: As CRISPR technology is closely linked to intellectual property rights, a business could focus on developing proprietary CRISPR techniques or plant varieties and then license these innovations to other agricultural stakeholders. This model can create recurring revenue streams from licensing fees while allowing other companies to benefit from cutting-edge technology without the need to develop it in-house.
5. Consulting and Advisory Services: With expertise in CRISPR technology and its applications in plant breeding, a business can offer consulting services to agricultural firms looking to adopt genetic modifications. This could include regulatory compliance guidance, risk assessment, and strategic planning for implementation of CRISPR technologies in their breeding programs.
6. Data and Analytics Services: Leveraging data generated from CRISPR plant breeding processes can lead to the development of a data analytics service. By analyzing growth patterns, yield data, and genetic performance, the business can provide valuable insights to farmers and agricultural developers, enhancing decision-making processes and improving crop management practices.
7. Education and Training Programs: As CRISPR technology is relatively new in agricultural practices, there is a growing need for education and training. A business can create workshops, online courses, and certification programs aimed at educating farmers, agronomists, and researchers about CRISPR and its applications in plant breeding. By selecting a suitable business model or combination of models, entrepreneurs can strategically position their CRISPR plant breeding business to meet the evolving demands of the agricultural sector while navigating the complexities of regulatory frameworks and market competition.

The competitive landscape for a plant breeding business utilizing CRISPR technology is dynamic and multifaceted, shaped by a variety of players including established agricultural corporations, biotech startups, and academic institutions. Major agricultural companies, such as Bayer, Syngenta, and Corteva, have significant resources and established market presence, enabling them to invest heavily in CRISPR research and development. These companies often leverage their extensive agricultural networks and distribution channels to bring new CRISPR-edited crops to market more quickly than smaller operations. Their robust intellectual property portfolios also pose a challenge for new entrants, as they may hold patents that cover essential CRISPR techniques and applications. In contrast, numerous biotech startups are emerging, focusing specifically on niche markets within plant breeding. These companies often emphasize innovative approaches and may target specific crops or traits that larger corporations overlook. Startups can be agile, responding quickly to market needs and consumer preferences, which gives them a competitive edge in developing tailored solutions. However, they often face challenges securing funding and navigating regulatory hurdles that can delay product development and commercialization. Academic institutions and research organizations play a crucial role in advancing CRISPR technology and its applications in plant breeding. Collaborations between universities and private companies can foster innovation, providing startups with access to cutting-edge research and expertise. These partnerships can enhance a startup's credibility and facilitate the transition from lab to market. The regulatory environment also significantly influences the competitive landscape. Companies must navigate a complex array of regulations regarding genetically modified organisms (GMOs) and CRISPR-edited plants, which vary by region. This regulatory framework can create barriers to entry, impacting the speed at which new products can be developed and brought to market. Companies that can effectively manage these regulatory challenges may gain a competitive advantage. Consumer attitudes towards genetically modified crops and CRISPR technology are evolving, impacting market dynamics. Growing interest in sustainable agriculture and food security can create opportunities for businesses that promote the benefits of CRISPR-edited plants, such as increased yield, disease resistance, and reduced need for chemical inputs. However, public skepticism remains a hurdle that must be addressed through transparent communication and education. In summary, the competitive landscape for a CRISPR plant breeding business is characterized by a mix of large agricultural firms, innovative startups, and academic collaborations, all operating in a complex regulatory environment. Businesses entering this field must develop unique value propositions, navigate regulatory challenges, and engage with consumers to carve out their niche in this rapidly evolving market.

When embarking on a plant breeding business utilizing CRISPR technology, it is essential to navigate the complex landscape of legal and regulatory requirements. These regulations can vary significantly depending on the country or region in which you operate, as well as the specific plants being developed. Here are some key considerations:
1. Intellectual Property Rights: Securing intellectual property rights is crucial for any biotechnology venture. This includes obtaining patents for your CRISPR methods and the plants developed using these techniques. Understanding the patent landscape is vital, as existing patents may affect your ability to commercialize certain CRISPR applications. Engage with a patent attorney who specializes in biotechnology to navigate this area effectively.
2. Biosafety Regulations: Many countries have stringent biosafety regulations governing the release and use of genetically modified organisms (GMOs). In the United States, for example, the USDA oversees the Animal and Plant Health Inspection Service (APHIS), which regulates the field testing and commercial release of genetically engineered plants. It is important to submit applications for permits and ensure compliance with all biosafety guidelines, including risk assessments and monitoring protocols.
3. Environmental Assessments: Before launching a new plant variety, you may be required to conduct environmental impact assessments. These assessments evaluate the potential effects of your CRISPR-modified plants on local ecosystems and biodiversity. Regulations may mandate public consultation and transparency in your findings, necessitating a thorough understanding of ecological risks associated with your products.
4. Food Safety Regulations: If your CRISPR plants are intended for human consumption or animal feed, you must comply with food safety regulations set forth by agencies such as the FDA in the U.S. This may involve pre-market safety assessments to demonstrate that your products are safe to eat and do not pose any health risks. Additionally, labeling requirements for genetically modified foods can differ by jurisdiction, so be prepared to adhere to these guidelines.
5. International Considerations: If you plan to export your CRISPR-modified plants, be aware of international regulations. Different countries have varying stances on genetically engineered organisms, with some being more permissive than others. The Cartagena Protocol on Biosafety outlines international regulations for the movement of GMOs, and it is crucial to understand the import/export laws of the countries you wish to engage with.
6. Ethical Considerations: The use of CRISPR technology in plant breeding also raises ethical questions. Engaging with stakeholders, including farmers, consumers, and environmental groups, is essential to address concerns and foster public acceptance of your products. Establishing an ethical framework for your business can enhance your reputation and mitigate potential backlash. By thoroughly understanding and complying with these legal and regulatory requirements, you can position your plant breeding CRISPR business for success while ensuring that your innovations are safe, ethical, and environmentally responsible. Consulting with legal experts and regulatory bodies early in the development process will help navigate these complexities effectively.

Starting a plant breeding business focused on CRISPR technology requires a solid understanding of your financing options. Securing adequate funding is essential to cover research and development, operational costs, and potential regulatory compliance. Here are several financing avenues to consider:
1. Bootstrapping: If you have personal savings or the ability to fund initial operations through personal investments, bootstrapping can be an effective way to maintain control over your business. This approach allows you to grow at your own pace and minimize debt, although it may limit your initial capacity for research and outreach.
2. Grants and Subsidies: Look for government and private grants specifically aimed at agricultural innovation, biotechnology, or sustainable practices. Organizations such as the USDA, National Science Foundation, and various agricultural foundations often have funding available for projects that align with their missions. Writing a compelling grant proposal can provide non-dilutive funding that supports your research without requiring equity.
3. Angel Investors: Attracting angel investors who are interested in biotechnology and sustainable agriculture can provide substantial early-stage capital. These investors often bring not only funds but also valuable industry connections and mentorship. Prepare a solid business plan and pitch that outlines your vision, market potential, and the innovative aspects of your CRISPR plant breeding approach.
4. Venture Capital: If your business model shows significant growth potential, you may consider seeking venture capital (VC) funding. VCs are typically more interested in businesses with a clear path to scalability and profitability. However, they often require equity in return for their investment, so be prepared for negotiations regarding ownership and control of your company.
5. Crowdfunding: Platforms like Kickstarter or Indiegogo allow you to raise small amounts of money from a large number of people. This approach not only provides funding but also helps validate your business concept and build a community of supporters. Ensure you have a compelling story and value proposition to attract backers.
6. Partnerships and Collaborations: Forming strategic partnerships with academic institutions, agricultural companies, or research organizations can provide access to funding, resources, and expertise. These collaborations may also enhance your credibility and facilitate access to facilities and technology necessary for CRISPR research.
7. Loans: Traditional loans from banks or credit unions can provide the necessary capital, but they come with the obligation to repay with interest. Consider small business loans or specialized loans for agricultural businesses. A solid business plan and financial projections will strengthen your application and increase your chances of approval.
8. Incubators and Accelerators: Joining an incubator or accelerator program focused on agri-tech or biotech can provide not only funding but also mentorship, networking opportunities, and resources to help you refine your business model. Many programs offer seed funding in exchange for equity and can help you navigate the complexities of starting a biotech venture. By exploring these financing options, you can position your CRISPR plant breeding business for success and ensure you have the necessary resources to innovate and grow in this competitive field.

To successfully launch a plant breeding CRISPR plants business, effective marketing and sales strategies are crucial to attract customers, educate the market, and drive sales. Here are several strategies to consider:
1. Target Market Identification: Begin by identifying your target market segments. Potential customers may include agricultural producers, seed companies, research institutions, and even home gardeners interested in innovative plant varieties. Understanding their needs and pain points will help tailor your marketing messages accordingly.
2. Educational Marketing: Given the complexity and novelty of CRISPR technology, educational content can be a powerful tool. Create informative materials such as white papers, webinars, and workshops that explain the benefits of CRISPR in plant breeding. Highlight how your products can address challenges such as pest resistance, climate adaptability, and improved yield. This positions your business as a knowledgeable leader in the field.
3. Online Presence and Digital Marketing: Establish a strong online presence through a well-designed website that showcases your products, research, and success stories. Utilize search engine optimization (SEO) to improve visibility in search engines. Engage in digital marketing campaigns using social media platforms to connect with potential customers, share updates, and generate leads.
4. Networking and Partnerships: Build relationships with industry stakeholders, including agricultural associations, universities, and research institutions. Partnerships can lead to collaborative research projects, joint marketing efforts, and access to wider networks. Attend industry conferences and trade shows to network and showcase your innovations.
5. Regulatory Communication: Since CRISPR technology may face regulatory scrutiny, emphasize transparency and compliance in your marketing materials. Educate your audience about the regulatory landscape and how your products meet safety and environmental standards. This builds trust and credibility with stakeholders who may be hesitant about adopting new technologies.
6. Product Differentiation: Clearly articulate what sets your CRISPR plants apart from traditional breeding methods and other biotechnologies. Focus on unique selling propositions such as faster development times, precision in trait modification, and sustainability benefits. Case studies demonstrating successful applications of your products can serve as powerful testimonials.
7. Sales Channels: Determine the most effective sales channels for your products. Consider direct sales, online sales, and partnerships with distributors. Tailor your approach based on the preferences of your target market. For instance, larger agricultural producers may prefer direct negotiations, while smaller buyers might favor online purchasing options.
8. Feedback and Iteration: Implement a system for gathering customer feedback on your products and services. This information can help you refine your offerings and address any concerns. Engaging with customers post-purchase can also foster loyalty and encourage repeat business. By combining these strategies, you can effectively market and sell your CRISPR plants, positioning your business for growth in a rapidly evolving field.

When launching a plant breeding business focused on CRISPR technology, efficient operations and logistics are crucial to ensure smooth functioning and successful outcomes. Here are key components to consider: Supply Chain Management: Establishing a reliable supply chain is essential for sourcing high-quality seeds, growth media, and other materials necessary for plant breeding and genetic modification. Collaborate with reputable suppliers who can provide the necessary inputs consistently and at competitive prices. Additionally, consider forming partnerships with research institutions and universities for access to cutting-edge resources and knowledge. Laboratory Setup: A well-equipped laboratory is fundamental for conducting CRISPR experiments. This includes having the necessary tools for gene editing, such as micropipettes, PCR machines, and gel electrophoresis equipment. Ensure compliance with safety regulations and obtain any required permits for operating a genetic engineering facility. Consider investing in advanced technologies, such as automated systems for high-throughput screening, to streamline workflows and increase efficiency. Plant Growth Facilities: Depending on the scale of your operations, you may need greenhouses or controlled environment chambers that provide optimal conditions for plant growth. These facilities should be equipped with climate control systems to regulate temperature, humidity, and light, ensuring that plant growth conditions are ideal for both conventional and CRISPR-modified plants. Project Management: Implement robust project management practices to oversee the breeding programs. This includes setting clear objectives, timelines, and budgets for each project. Utilize software tools for tracking progress, managing resources, and documenting experiments, which will enhance collaboration among team members and facilitate data-driven decision-making. Regulatory Compliance: Ensure that your operations adhere to local and international regulations regarding genetic modifications. This involves understanding the biosafety and environmental impact assessments required for CRISPR-modified plants. Establish protocols for documenting compliance and engaging with regulatory bodies to navigate the approval processes efficiently. Distribution and Marketing: Develop a logistics strategy for distributing your CRISPR-modified plants to customers. This includes packaging, transportation, and warehousing considerations that maintain plant viability. Additionally, invest in marketing strategies that educate potential customers on the benefits of CRISPR technology in agriculture, highlighting traits such as disease resistance, enhanced yield, and climate resilience. Collaboration and Networking: Engage with industry stakeholders, including other plant breeders, agricultural companies, and research organizations. Building a network can lead to collaborative projects, shared resources, and access to new markets. Attend conferences, workshops, and trade shows to stay updated on industry trends and innovations in plant breeding and CRISPR technology. By addressing these operational and logistical considerations, you can establish a robust foundation for your plant breeding business, positioning it for success in the competitive field of CRISPR technology.

When embarking on a plant breeding business that utilizes CRISPR technology, effective human resources and management strategies are crucial for success. The complexity of genetic engineering and the regulatory landscape necessitate a skilled and well-organized team. Here are key considerations for building a strong workforce and management framework:
1. Talent Acquisition: Begin by identifying the specific skills and expertise needed for your operations. This may include plant biologists, geneticists, agronomists, and regulatory affairs specialists. Look for individuals with experience in CRISPR technology, plant breeding, and compliance with agricultural regulations. Additionally, consider hiring personnel with backgrounds in business development and marketing to help position your products in the marketplace.
2. Training and Development: Given the rapid advancements in biotechnology, ongoing education and training are essential. Invest in professional development programs that keep your team updated on the latest CRISPR techniques, regulatory changes, and industry trends. Encouraging a culture of continuous learning will not only enhance the skill set of your employees but also foster innovation within your company.
3. Team Structure: Establish a clear organizational structure that defines roles and responsibilities. A typical setup might include research and development teams focused on plant breeding, a regulatory compliance team to navigate legal requirements, and a sales and marketing team to promote your products. Ensure that there is effective communication between departments to facilitate collaboration and problem-solving.
4. Regulatory Compliance: Given the sensitive nature of genetic engineering, it is vital to have a dedicated team focused on understanding and adhering to local and international regulations regarding genetically modified organisms (GMOs). This team should work closely with scientific staff to ensure that all breeding activities comply with legal standards and ethical considerations.
5. Workplace Culture: Cultivating a positive workplace culture is key to attracting and retaining top talent. Encourage collaboration, creativity, and open communication among team members. Recognize and reward contributions, fostering an environment where employees feel valued and motivated to innovate.
6. Performance Management: Implement a performance management system that aligns employee goals with the overall objectives of the business. Regularly assess performance through reviews and feedback, providing opportunities for employees to voice their ideas and concerns. This will not only improve productivity but also enhance employee satisfaction and loyalty.
7. Networking and Collaboration: Building relationships with academic institutions, research organizations, and industry groups can provide access to additional expertise and resources. Collaborations can lead to joint ventures, shared knowledge, and increased visibility in the market, all of which are beneficial for a budding CRISPR plant breeding business.
8. Scaling and Flexibility: As your business grows, anticipate the need to scale your workforce. Plan for flexible hiring practices that allow you to bring in seasonal or project-based employees when necessary, especially during critical phases of research and development or product launches. By emphasizing these human resources and management strategies, you can create a robust foundation for your plant breeding business using CRISPR technology, positioning yourself for long-term success in a competitive and evolving market.

In conclusion, embarking on a venture in plant breeding with CRISPR technology presents an exciting opportunity at the intersection of agriculture and innovation. By understanding the regulatory landscape, investing in the right technological infrastructure, and fostering strong collaborations with research institutions and industry partners, aspiring entrepreneurs can position themselves for success in this rapidly evolving field. Additionally, staying informed about market trends and consumer preferences will be crucial in developing products that meet the needs of farmers and consumers alike. With dedication and strategic planning, a CRISPR plant breeding business can not only thrive but also contribute significantly to sustainable agricultural practices and food security worldwide. As the demand for innovative solutions in food production continues to grow, now is the perfect time to take the first steps toward making a meaningful impact in this transformative industry.

A business plan is a critical tool for businesses and startups for a number of reasons
Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the mark
et.Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
Business plans allow you to position your brand by understanding your company’s role in the marketplace.
Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.

Many people struggle with drafting a business plan and it is necessary to ensure all important sections are present in a business plan:Executive Summary
Company Overview
Industry Analysis
Consumer Analysis
Competitor Analysis & Advantages
Marketing Strategies & Plan
Plan of Action
Management Team
The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.

The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at info@avvale.co.uk . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.

To complete your perfect plant breeding crispr plants business plan, fill out the form below and download our plant breeding crispr plants business plan template. The template is a word document that can be edited to include information about your plant breeding crispr plants business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.

With the growth of your business, your initial goals and plan is bound to change. To ensure the continued growth and success of your business, it is necessary to periodically update your business plan. Your business plan will convert to a business growth plan with versions that are updated every quarter/year. Avvale Consulting recommends that you update your business plan every few months and practice this as a process. Your business is also more likely to grow if you access your performance regularly against your business plans and reassess targets for business growth plans.