Top Tips For Growing Your Business
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So, you’ve started out in business and things are going pretty well. You’re building your reputation, and even starting to make a little money. How can you go about getting that all important growth that will carry you through to the next level?
Make A Plan
A plan should as far as possible populated by numbers.
“We will dominate the market for widgets” is a wish, not a plan. A plan is more like, “We will raise our market share of sales of widgets by 10% over each of the next three years, by increasing our sales force by two, and enforcing tighter quality control so that returns represent less that 0.01%.”
Set Key Performance Indicators
Part of your plan should be KPI’s, but it’s a good idea to set Key Performance Indicators for all measurable areas of your business. You will not grow if you don’t measure. Staff turnover, sick days, utility costs, nothing should be so insignificant that it isn’t being measured, thought about and improved
Have Champions For New Ideas
Allow new ideas to bubble up, and appoint champions for them. For example, if someone comes into your office and asks if they can work flexible hours, have them champion that idea, bring you the pros and cons, and figure out what it might mean for your business. If people are given ownership of ideas, great and small, they will thrive and grow in front of your eyes
Challenge The Way Things Have Always Been Done
“But we’ve always done it that way”, should be words which are never uttered on your business premises. New is not always better, but it’s amazing how often it is. Continuously challenge the received wisdom of your business, and take particular care when you think that staff or customers aren’t going to like something
Trust Your People
If you’re going for growth, then take the team along with you. Tell them that you have ambition, and make them part of the action.
Don’t Forget The Basics
How many times have you heard, or even said, something along the lines of, “They’ve got too big for their boots, they’ve forgotten their customers.” More than a few, I’d be prepared to bet. So, never ever let your customers feel left behind. They are the ones who are going to fund your growth, and in fact create your growth, so they had better be left feeling that they are King of the Castle around your place
You are only as good as your staff, that’s just a fact. You must create a great team of happy people.