10 Steps for Successful Business Growth

You are currently viewing 10 Steps for Successful Business Growth

Running a business, either small or large, need the right knowledge and application of self-discipline daily. Therefore, I have jotted down the “10-Step Business Growth Plan.” It is the core that needs to keep you focused on management practices. I recommend that startups, listeners, and clients print and post them in their workstations for daily review while planning for the upcoming days’ activities.

1. Set Specific Goals

Goals have to be concrete. Saying that you’re going to get more customers is not good enough. How many? By when? What type of customers? You have to ask yourself these questions.

Write your goals, even if you are selling molecular sieve bead. More than 90pc of people that write down a realistic, deadline, and specific achieve their targets/goals. Finally, see yourself in the future virtually. Most individuals think in images. As you start to write your vision and place yourself in the future, it seems real. You will see amazing results.

2. Look for Change

Change is the only constant! The longer you go with the status quo, the tougher it will be to try something different. It is the ideas that bring change in the world. Almost every system, invention, or model came from a lone entrepreneur’s idea. Psychologists say that creativity is a “learned trait.” Experiment with creative ways of doing things. Don’t settle for the easy way. Seek change daily and see your creativity grow and your business prosper.

3. Focus on Branding

Branding is tagged for the BIG players, which is wrong. Small business owners or entrepreneurs can differentiate themselves with this kind of branding strategy. In truth, it is MORE important for startups or smaller companies to set themselves apart, especially if they need to compete with the BIG PLAYERS!

Remember! Your clients’ perceptions about you are all that matters. Many a time, your rapport is bundled up in the Unique Selling Proposition (USP). What makes you different from the crowd? What are you doing that no other seller is doing? This is more important than the price or quality of your product or service. Everything we say or do both externally and internally should revolve around this.

4. Be an Influencer NOT a Salesperson

Your goal is not to SELL customers; you have to affect them. When you SELL, customers move away because they fear being coerced into making the wrong decision. Ask further questions. Find what is essential to them. Find ways to get them to look up to you.

So, you must earn the right to impact customers by linking yourselves in a way that makes us unique as an advisor, friend, and confidant. Then you will become the LONE solution to their requirements.

5. Speak Customers Interest

As Dale Carnegie, the great master of HR said, we must “raise voice about the other persons’ interest.” The reason is people will run away from you. Be willing to give. “What you can give?” you should ask?

If nothing is possible, educate them. That’s right! EDUCATE your potential clients, and you will create a customer base for the rest of your corporate life! Ask and show you strongly care for them. You will learn more, build stronger relationships, and get more business. Oh yeah, you’ll have more fun too.

6. Develop a Practical Sales and Marketing Plan

A sales alongside marketing plan makes attention you require to get in front of the right organizations. It is what entices people towards you! Good marketing and sales plan implemented efficiently, cost-effectively, and consistently will remove the need for “cold calls!”

Advertisement plans, even for a molecular desiccant supplier, should include a sales plan as well. There is no other perfect way to measure the progress and financial growth of your business. You need one realistic map from where the sales will generate, how, and from whom they will come.

7. Know Your Customers

Changes in customers’ preferences and competitors’ products can leave you stranded unless you know your customers well. What are they searching for today? What will they probably want in the coming days? What are their purchasing patterns? How can you be a resource for them if you don’t have the correct products or services for them now?

8. Manage Your Cash Daily

Cash flow is a lifeline for a company. Irrespective of how impressive your profits maybe, if you run out of cash, your game is over. Learn the significance of aligning performance gauging goals to gross margin. Learn different contribution margins, pricing strategies, and how to keep your cash position up every minute of the day, if necessary.

9. Be a Leader

Jack Welch, CEO of G.E., once told Business Week Magazine, “Most small companies are simple, informal, and grow on good ideas. Think small”. Understand your role as a leader. You need to inspire your company, simplify processes, admit your mistakes, force your organization to follow the vision, and keep things moving forward.

10. Get Help

Get an advisory board or a mentor! Sounds crazy for a small operation? It’s not. Ask the board to be your BOD and review your corporate plans. Have someone to counter ideas as getting an objective opinion is crucial.

10 Steps for Successful Business Growth

How are user personas defined?