Three keys to Business Growth
Business Growth Tools and Market Development require continuous change, however, we all take comfort in familiarity. How can we balance comfort and growth in our business?
Every networking event attended, every marketing email sent, every penny invested in a website indicates that we want our business to be known, either we are buying or more often selling.
Therefore, we understand the basic principles, however, the real challenge is to achieve the right action which creates the opportunity.
Growth for growth’s sake is often a distraction, with bodies chasing everything and winning new business. The foundation of the business does expand, too wide and it strangles productive growth.
These 3 pointers are for those who want to understand when to choose No!
Old wood isn’t deadwood! There never comes a time when you need to stop investing in your team, no matter how experienced.
Consequently, design an annual training and events program that develops the skills and that challenge the individual.
Plan the progress you need them to make and spice it up with a little of what they want to learn.
To achieve the best result, know your staff and then know your marketplace. The cycle of change and progression is then embedded in the development of your business.
Don’t reinvent the wheel, or design a new feature. Gadgets and gizmos attract for a while the art of longevity in business focuses on understanding the developing needs of your marketplace.
Creative solutions need to save time, reduce stress and encourage activity. The critical element in developing a creative solution is listening beyond what is said. Ask questions that enable your market development.
Dynamic business planning acknowledges that your guiding document remains alive. The main purpose of a business plan can be to placate the bank or investors.
However, all that work and planning offers the core reasons for your business working. Treat it like actual cash flow when compared with projected income.
Be prepared to set goals for 8 years, 5 years and 3 years. Plot the journey and then decide the pace of travel. Your share of market growth remains dependent on the business infrastructure.
Borrowing too much too soon cripples small businesses. The solution is often in the people you know.
We know our Business Growth Tools are effective because our challenges change with every new client, with every tender opportunity, with every crisis we are invited to resolve. Our experience shows us that planning, investment, and simplicity are at the heart of sustainable business growth.
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