Growth strategy template with a worked example

Growth strategy template

A growth strategy names the markets, products and channels a business will rely on to grow, and the numbers that show whether each bet is working. It is owned by the chief executive and agreed with the board and the leaders of marketing, product, operations and finance.

Horizon: 2 years4 priorities · 12 outcomes

Use this template

What this growth strategy template includes

ContextThe situation, the challenges to solve, and what is deliberately left out.
Growth baselineWhere growth comes from today and what is limiting it.
Growth leversThe options considered, sized and ranked.
Growth roadmapWhen each chosen lever is tested, scaled or stopped.
Risks and guardrailsWhat could go wrong and the limits that protect the core business.
Priorities and measuresThree to five priorities, each with an owner, outcomes with a baseline and target, and the initiatives behind them.

Growth strategy example

A complete growth strategy for a fictional organization: direct-to-consumer dog food brand selling fresh-frozen and air-dried recipes by subscription.

Worked exampleGrowth strategy

Organization	Direct-to-consumer dog food brand selling fresh-frozen and air-dried recipes by subscription (120 staff)
Ambition	Grow revenue from $46 million to $66 million by the end of 2028 through better retention, a cat food line and two new channels, while holding contribution margin above 35%.
Horizon	2 years

Context

Where we are and what we are choosing

Revenue is $46 million, of which $42.3 million comes from 88,000 active subscribers who spend an average of $480 a year on fresh-frozen and air-dried dog food. Growth has slowed from 52% to 18% in two years. Paid social brings in 71% of new customers, and the blended cost to acquire one has risen from $61 to $94. Only 62% of new subscribers are still active after 90 days, and 44% after a year. Contribution margin is 38% after food, packaging, cold shipping and payment costs. A 40-store pilot in independent pet stores is the only revenue outside our own website.

Challenges

We sign up about 70,000 new subscribers a year and lose about 57,000, so most acquisition spend replaces customers instead of adding them.
One channel supplies 71% of new customers, and its cost per customer has risen 54% in two years.
The range is dog food only. A household that also owns a cat, or wants treats, buys those elsewhere.

We will focus on

The first 90 days of a subscription, where 38% of new customers are lost.
More revenue per household: treats, supplements and a cat food line for the 31% of our customers who also own a cat.
Two acquisition channels that do not depend on ad auctions: vet and breeder referrals, and independent pet stores.

We will not

Mass and grocery retail. Freezer space, trade margins above 40% and promotional funding would push contribution margin below our floor.
Launching in Canada before 2029, although 6% of site visitors already come from there.
Half-price first boxes. Introductory discounts are capped at 30%, which will reduce sign-ups in the short term.

Growth baseline

Current revenue	$46 million a year: $42.3 million from subscriptions, $3.4 million from one-off online orders and $0.3 million from the pet store pilot.
Growth rate	18% over the last 12 months, down from 52% two years ago. New subscriber numbers have been flat at about 70,000 a year.
Main growth source	Paid social advertising to new dog owners, which brings in 71% of new customers at a blended cost of $94 each.
Main constraint	Early churn. 38% of new subscribers cancel within 90 days, most citing cost per meal or freezer space, so rising acquisition spend is not growing the base.

Growth levers

Lever	Type	Revenue potential	Confidence	Decision
Reduce churn in the first 90 days	Retention	$6 million a year by 2028	High	Scale now
Treats and supplements added to the box	Expansion	$4 million	High	Scale now
Cat food line	New product	$5 million	Medium	Test in H1 2027, scale if repeat rate holds
Vet and breeder referral program	New channel	$5 million	Medium	Test in two regions, then scale
Independent pet stores, air-dried range only	New channel	$6 million	Medium	Expand pilot from 40 to 600 stores
Mass and grocery retail	New channel	$15 million or more	Low	Declined: margin and freezer constraints
Launch in Canada	New market	$8 million	Low	Deferred to 2029

Growth roadmap

Period	Focus	Decision point
H1 2027	New starter box and a lower-cost mixed plan; cat food trial with 3,000 existing customers; referral test with 150 vet clinics	Scale cat food only if 60% of trial customers place a third order
H2 2027	Cat food on general sale; pet store range expands to 250 stores; treats offered at checkout and in the account page	Continue store rollout only if sell-through passes $700 a store a month
H1 2028	Referral program in all regions; paid social budget cut to fund it; stores reach 450	Stop referrals if cost per subscriber is above $70 after six months at scale
H2 2028	Stores reach 600; decide on a second cat recipe range; prepare the Canada business case	Canada goes ahead only if 12-month retention is at or above 52%

Risks and guardrails

New lines dilute margin. Guardrail: blended contribution margin stays above 35%, and retail must reach 30% by the end of 2028 or the rollout pauses.
Acquisition gets less efficient as we diversify. Guardrail: blended payback on acquisition cost stays under nine months; any channel above twelve months for a quarter is cut back.
Pet stores undercut the subscription. Guardrail: a minimum advertised price for retailers, and only the air-dried range is sold in stores.
Cat food distracts the kitchen and causes dog food stock-outs. Guardrail: cat recipes run on a separate co-manufacturer line, and dog food fill rate must stay above 98%.
Capping discounts cuts sign-ups faster than retention improves. Guardrail: review after one quarter, and restore a deeper offer only for referral channels if net subscriber growth turns negative.

Priorities and measures

Priority 1Owner: Vice President of Customer Retention

Keep new subscribers past their first 90 days

Every point of 90-day retention is worth about 700 subscribers a year that we have already paid $94 each to acquire. It is the cheapest growth available and it makes every other lever pay back faster.

Outcome	Baseline	Target	Due
New subscribers still active after 90 daysMilestones: 68% by Q4 2027	62%	74%	Q4 2028
New subscribers still active after 12 monthsMilestones: 48% by Q4 2027	44%	54%	Q4 2028
Active dog food subscribersMilestones: 93K subscribers by Q4 2027	88K subscribers	100K subscribers	Q4 2028

Initiatives

Replace the first box with a two-week starter sized to fit one freezer drawer
Offer a mixed plan of fresh food as a topper on air-dried, at about 60% of the full-plan price
Message every new customer on days 3, 7 and 14 with feeding and transition advice from a vet nurse
Let customers skip, pause or change portion size from the delivery reminder

Targets are illustrative. Adapt them to your baseline before you start.

Priority 2Owner: Chief Product Officer

Sell more to each pet household

Subscribers already trust us with their dog's main meal, yet 86% buy nothing else and 31% feed a cat from another brand. Wider baskets raise revenue without new acquisition spend.

Outcome	Baseline	Target	Due
Annual revenue per dog food subscriberMilestones: $498 by Q4 2027	$480	$520	Q4 2028
Subscribers with treats or supplements in their regular boxMilestones: 24% by Q4 2027	14%	35%	Q4 2028
Annualized cat food revenueMilestones: $1.5M by Q4 2027	$0	$5M	Q4 2028

Initiatives

Develop three air-dried cat recipes with a second co-manufacturer
Run a paid trial of cat food with 3,000 existing customers before general sale
Add one-tap treats and supplements to the delivery reminder and account page
Launch a joint and a digestion supplement formulated with a veterinary nutritionist

Targets are illustrative. Adapt them to your baseline before you start.

Priority 3Owner: Chief Marketing Officer

Cut our dependence on paid social

A single channel with costs up 54% in two years sets the ceiling on growth. Vets and breeders reach owners at the moment they choose a food, and referred customers stay longer.

Outcome	Baseline	Target	Due
New customers acquired through paid socialMilestones: 58% by Q4 2027	71%	45%	Q4 2028
Blended cost to acquire a subscriberMilestones: $89 by Q4 2027	$94	$82	Q4 2028
New subscribers a month from vet and breeder referralsMilestones: 650 subscribers by Q4 2027	250 subscribers	1,200 subscribers	Q4 2028

Initiatives

Recruit 150 vet clinics and 200 breeders in two regions with sample packs and a referral code
Cap introductory discounts at 30% across every channel
Give existing customers a free box for each referred friend who stays 90 days
Shift 25% of the paid social budget to referral, search and partnerships during 2027

Targets are illustrative. Adapt them to your baseline before you start.

Priority 4Owner: Vice President of Retail Sales

Build a pet store channel for the air-dried range

The 40-store pilot sells $7,500 a store a year with almost no support, and store staff recommend food to owners we do not reach online. Shelf-stable product avoids the freezer problem.

Outcome	Baseline	Target	Due
Independent pet stores stocking the rangeMilestones: 250 stores by Q4 2027	40 stores	600 stores	Q4 2028
Annualized revenue from pet storesMilestones: $2M by Q4 2027	$300K	$6M	Q4 2028
Contribution margin on pet store salesMilestones: 26% by Q4 2027	22%	30%	Q4 2028

Initiatives

Sign two regional pet specialty distributors to reach stores outside the pilot area
Design retail packs in two sizes with a minimum advertised price
Train store staff with a short course and feeding samples for their own pets
Hire three regional sales managers, one ahead of each rollout wave

Targets are illustrative. Adapt them to your baseline before you start.

Blank growth strategy template

The same structure with a prompt in every field. Copy it, or download it as a Word or Excel file.

Your planGrowth strategy

Organization	[Describe your organization in a few words, with its size]
Ambition	[One sentence on where you want to be at the end of the plan]
Horizon	[How long the plan runs, for example 12 months]

Context

Where we are and what we are choosing

[Where things stand today: the facts that make this strategy necessary]

Challenges

[A problem the strategy has to solve]
[A problem the strategy has to solve]

We will focus on

[Something you are choosing to concentrate on]
[Something you are choosing to concentrate on]

We will not

[Something you are deliberately leaving out]
[Something you are deliberately leaving out]

Growth baseline

Current revenue	[Your current revenue]
Growth rate	[Your growth rate]
Main growth source	[Your main growth source]
Main constraint	[Your main constraint]

Growth levers

Lever	Type	Revenue potential	Confidence	Decision
[Lever]	[Type]	[Revenue potential]	[Confidence]	[Decision]
[Lever]	[Type]	[Revenue potential]	[Confidence]	[Decision]
[Lever]	[Type]	[Revenue potential]	[Confidence]	[Decision]

Growth roadmap

Period	Focus	Decision point
[Period]	[Focus]	[Decision point]
[Period]	[Focus]	[Decision point]
[Period]	[Focus]	[Decision point]

Risks and guardrails

[A risk and the guardrail against it]
[A risk and the guardrail against it]
[A risk and the guardrail against it]

Priorities and measures

Priority 1Owner: [Role accountable for this priority]

[Name the priority in a few words]

[Why this priority matters now, in one or two sentences]

Outcome	Baseline	Target	Due
[Metric you will track]	[Where it is today]	[Where it should be]	[When]
[Metric you will track]	[Where it is today]	[Where it should be]	[When]
[Metric you will track]	[Where it is today]	[Where it should be]	[When]

Initiatives

[A project or action that moves the outcomes above]
[A project or action that moves the outcomes above]
[A project or action that moves the outcomes above]
[A project or action that moves the outcomes above]

Priority 2Owner: [Role accountable for this priority]

[Name the priority in a few words]

[Why this priority matters now, in one or two sentences]

Outcome	Baseline	Target	Due
[Metric you will track]	[Where it is today]	[Where it should be]	[When]
[Metric you will track]	[Where it is today]	[Where it should be]	[When]
[Metric you will track]	[Where it is today]	[Where it should be]	[When]

Initiatives

[A project or action that moves the outcomes above]
[A project or action that moves the outcomes above]
[A project or action that moves the outcomes above]
[A project or action that moves the outcomes above]

Priority 3Owner: [Role accountable for this priority]

[Name the priority in a few words]

[Why this priority matters now, in one or two sentences]

Outcome	Baseline	Target	Due
[Metric you will track]	[Where it is today]	[Where it should be]	[When]
[Metric you will track]	[Where it is today]	[Where it should be]	[When]
[Metric you will track]	[Where it is today]	[Where it should be]	[When]

Initiatives

[A project or action that moves the outcomes above]
[A project or action that moves the outcomes above]
[A project or action that moves the outcomes above]
[A project or action that moves the outcomes above]

Priority 4Owner: [Role accountable for this priority]

[Name the priority in a few words]

[Why this priority matters now, in one or two sentences]

Outcome	Baseline	Target	Due
[Metric you will track]	[Where it is today]	[Where it should be]	[When]
[Metric you will track]	[Where it is today]	[Where it should be]	[When]
[Metric you will track]	[Where it is today]	[Where it should be]	[When]

Initiatives

[A project or action that moves the outcomes above]
[A project or action that moves the outcomes above]
[A project or action that moves the outcomes above]
[A project or action that moves the outcomes above]

How to adapt it

01
Break last year's growth into its sources: new customers, retained customers, price and spend per customer. The constraint is usually visible as soon as the split is done.
02
List every lever you could pull, including the ones you expect to reject, and size each one with the same method.
03
Rate confidence by evidence. A lever you have tested ranks above a larger one you have only modeled.
04
Write a decision point for each period of the roadmap with a number attached, agreed before the test starts.
05
Set guardrails on margin, payback and service for the existing business, so new bets cannot quietly damage what already works.

How to run it

A plan only works if it is reviewed on a rhythm. This is the cadence the example assumes.

Check-in	Outcome owners update progress and confidence weekly.
Review	Priority owners review outcomes and unblock initiatives monthly.
Reset	Leadership revisits priorities and targets quarterly.

Tability keeps this cadence for you. Each priority becomes an objective, each outcome a key result with its baseline and target, and each initiative a tracked task. Owners get a check-in reminder and the plan shows what is on track.

Track this plan in Tability

Still comparing tools? See the 10 best strategy software tools.

Common mistakes

Adding acquisition spend while retention is weak, which raises revenue briefly and cost permanently.
Pursuing every lever at once instead of sequencing them, so none gets enough budget or attention to produce a clear result.
Sizing levers by market size instead of by what the business could realistically capture in the period.
Running tests with no stop criteria, so weak bets continue because nobody agreed what failure looks like.

Questions, answered.

What should a growth strategy template include?

It should include a baseline showing current revenue, growth rate, the main source of growth and the main constraint; a table of growth levers sized and ranked; a roadmap with decision points; and the risks and guardrails that protect the core business. Finish with three to five priorities and measurable outcomes for each.

What are the main types of growth strategy?

There are four main types: selling more to existing customers in existing markets, entering new markets with current products, launching new products for current customers, and diversifying into new products and markets together. Most plans combine two or three, starting with retention and expansion because they carry the least risk and cost.

How do you choose which growth levers to prioritize?

Rank each lever by its revenue potential, your confidence that it will work, and the cost and time to find out. Start with levers that are high confidence and fast to test, such as retention and upsell. Fund one or two larger, less certain bets as staged tests with clear criteria for scaling or stopping.

What is the difference between a growth strategy and a marketing strategy?

A growth strategy covers every source of revenue growth, including retention, pricing, new products, new channels and new markets. A marketing strategy covers how the company reaches and persuades its target customers. Marketing is one contributor to growth, and the growth strategy decides how much weight it carries against the other levers.

How long should a growth strategy cover?

Two to three years suits most businesses. That is long enough to test a lever, scale it and see the result, and short enough that the market assumptions still hold. Break the period into half-year stages, each with a decision point, and update the lever table whenever a test produces a clear answer.

Growth strategy template

Get the Word file

What this growth strategy template includes

Growth strategy example

Context

Growth baseline

Growth levers

Growth roadmap

Risks and guardrails

Keep new subscribers past their first 90 days

Sell more to each pet household

Cut our dependence on paid social

Build a pet store channel for the air-dried range

Blank growth strategy template

Context

Growth baseline

Growth levers

Growth roadmap

Risks and guardrails

[Name the priority in a few words]

[Name the priority in a few words]

[Name the priority in a few words]

[Name the priority in a few words]

Get the Word file

How to adapt it

How to run it

Common mistakes

Questions, answered.

What this growth strategy template includes

Growth strategy example

Keep new subscribers past their first 90 days

Sell more to each pet household

Cut our dependence on paid social

Build a pet store channel for the air-dried range

Blank growth strategy template

[Name the priority in a few words]

[Name the priority in a few words]

[Name the priority in a few words]

[Name the priority in a few words]

How to adapt it

How to run it

Common mistakes

Questions, answered.

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