At some point, every business will come up with the challenge of wanting more revenue, larger profits or market share. Having the proper strategy and plan is critical. Adjusting the strategy to ever changing market conditions is vital. Here are a few points to consider…
1) Your Network – Do you network with the people that help build your business or people that you can add value to (mentor/coach/share ideas)? Network with people who make things happen….are you the type of person that makes things happen? If not, you need to start! Provide value to your network. Give referrals to other businesses in your network without ever being asked to. Personally…I go to functions/events, join organizations and groups, have a coffee once a week with a person of influence that I have never met before. I connect with and meet people on social media (Linkedin, Twitter, Facebook and Google+). Growing your network in today’s world isn’t just online or only face to face. There needs to be a balance between the techno world and being personal. People need to get to know your brand.
2) Your momentum – Is your company on the upward swing? Do people say good things about your company? If not….fix it. It is pretty tough to drive sales if you are going to have attrition in the long run. If you have any weaknesses, then adding sales, revenue or growth to that mixture will only make your problems worse.
3) Be a leader in the market!! Consistently try to lead your industry and look for revenue opportunities that fit your business. Be innovative and stay ahead of your competition.
4) Work hard – Growth comes with hard work. I have met individuals who talk about making things happen, and people who make things happen. Which type of person are you? Most people that make things happen don’t have to tell you that they do.
5) Your Vision – You have to have a plan to reach your vision. You won’t reach your targets/goals without a plan, budget or strategy.
6) Risk Management – Make sure you have weighed out the pro’s and con’s of growing your business. What will it will take to reach that goal: more staff or bigger office space? Do you have the right sales people? Do you need a sales manager? Do you need an investor, mentor or consultant? Are there any risks that might set you back or knock you out of the business world all together?
7) Marketing – What are you doing for marketing? If you are not marketing, then you are making your company vulnerable. You need to be doing some form of advertising.
8) Have Fun – If you are not having some laughs and loving what you do, then change careers or start having fun! Life is too short…..”nothing is better than a good laugh”.
These points are just a few ideas to consider when growing your business. Sometimes growth will come just from increasing sales. But sustained growth takes a combination of everything.
One of the best lessons I learned early in my career is work on your business, not in your business.
If your company is in need of some sales, marketing consulting/coaching and you want to take it to the next level:
Contact: Roger Grona (306) 241-6215
President, Firebird Business Consulting Ltd