Business Growth Tools

Focus on Growth

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.

Understanding Growth

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!

Progression Training

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.

Creative Solutions

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.

Business Planning

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.

MT Trotter Support services

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.

Specialists in Health and Social Care working in association with KKS Management Ltd

Expansion: Borrowing to grow

It seems to be about the money

The recent business failures are due to the approach to group expansion.

Thomas Cook Group expanded on a wave of optimism. Servicing the debt would be easy in those market conditions.

The expectation that assets remain stable and creditors won’t get nervous is the common view. However, the reality is that lenders aren’t interested in the long term.

Thomas Cook PLC establishes this, first the banks require an additional £200 million then they increase this to £250 million. This action cascades the demise of the business.

Borrowing versus Investment

My personal approach to expansion has always been pragmatic, never buy another business, it adds to the risk. Use new money to expand, never link it to assets alone. Never borrow from a bank, high street or commercial lender.

A new investor requires some equity or incentive to join the journey. They stand to lose and need to engage to protect the investment. Also, they understand the risk.

Therefore, my approach is self-fund expansion, where that isn’t the option, find the right investor.

The “Right” Investor

  • The investor understands the business
  • The Investor recognizes that they profit from the expansion
  • The investor has a real stake in the success
  • The Investor must be involved

Borrowing against a business plan is viewed as a safe option for business owners. However, actual versus projected performance complicates matters.

Banks protect investor funds, therefore, reducing the risk. Consequently, the Bank is forced to react.

Therefore, cut out the bank!

Expansion through Investment

The need for a clear approach to staged growth and expansion underpins the investment strategy.

Ask simple questions: why the expansion is required? who will gain? how long will it really take?

Therefore, use three lines of projected performance, the:

  • Desired
  • Actual
  • Minimum

Explain the risk factors. Report performance monthly.

Investment Strategy

Consequently, planned expansion needs a clear strategy.

“Like a joke, it has failed when you have to explain the punchline!”

Contact us for more detail on how to attract investors with a powerful Investment Strategy!

Welcome to winning services

Welcome to our winning services, we know “First Impressions” are important in business. However, we can get hung up on them! Also, the “USP”, pitching, return on investment, corporate social responsibility!

Consequently, we have ditched the jargon! Save the business speak for the right time and place. Our team is there to support the development process. Therefore, the services are designed to support your business, no fuss, no fanfare.

Experience

The first contact remains the most challenging in any business relationship. We talk of “first impressions”, however, whatever the importance of those first few seconds and the reality is:

“All things being equal, people do business with, and refer business to people they know, like and trust.”

Bob Burg – “Endless Referrals”

Therefore, specialists with a wide network of contacts are to be viewed as an opportunity to build resilience in your business. The stronger the contacts the deeper the resource pool.

With access to years of experience in public, private and charity sector project management, business development, and procurement winning solutions are a habit.

Marketing / Content

Often when we work alone it is easy to over-complicate things. A few hours of a skilled marketing professional’s time can be invaluable.

Creating a tailored copy for your website is vital, or just structuring your thoughts for a blog. Small business owners often attempt to meet the daily challenges by doing everything themselves and consequently, not quite achieving everything. Therefore, work SMART and SMARTER, access the skills you need when you need them.

It easy to become the most expensive form designer, customer service rep and admin worker in your own business, the same applies to written material and content writing.

One example:

Social Care

UK Councils are discussing the need to cut contracts and reduce prices. For many smaller care businesses that should be great news.

However, because of contract pressure, these service providers only have time to react to the proposed change. Access to a specialist service can make all the difference. For example:

Care Quality Commission (CQC)

KKS Management provide all the support required for a successful application.

Content Creation

Corporate Communication

pippin Consulatncy – Catherine provides Compelling Content for Annual reports, corporate responsibility brochures, staff handbooks, …

Tender Management

Mark P Trotter

Specialist business support including comprehensive tender writing services. Winning contracts prepared by experienced bid writers

The advantage of working with skilled practitioners is financial, you pay for what you need, task-driven and highly professional individuals focused on delivering high-quality products.

MT Management is a site in development so for more information follow the links to KKS Management and Pippin Consultancy or Contact us

%d bloggers like this: