Denis Waitley said "The reason most people never reach their goals is that they don't define them. (write them down) Winners can tell you where they are going, what they plan to do along the way, and who will be sharing their adventure with them."
Most Business Owners are not born Entrepreneurs. They never planned on being a business owner. They never stood in the playground and said out loud "I want to be a BUSINESS OWNER when I grow up!" So, becoming a business owner, per se, means that you might not possess the necessary skills or education to grow a successful business.
As a Business Coach I work with business owners on a daily basis. While at the same time running my own Business Coaching Practice. As such, I have learnt a few things that have helped my clients, and myself, to keep the bumps and bruises to a minimum while maintaining a decent growth year after year.
These are my 5 Tips on How to Grow a Successful Business:
Tip no 1 - Forget the "Build It" and they will come mentality (You are not Noah)
Many business owners operate as technicians and look at marketing as an expense and not as an investment. They therefore spend very little, or almost nothing on advertising their business. To them marketing is an after-thought.
We should remember the business world is full of examples of great ideas that lacked the marketing support to gain traction or they were launched with the ideology of "our product is so awesome, that consumers will flock to it."
Consumers are incredibly discerning about their money; and as a result, they generally buy products that they know, like and trust!Referrals and sampling of "complimentary" products or services helps in building that relationship. To sell your product, takes passion, sell that passion and people will buy your product.
Tip no 2 – Know what you do and what you don't do
I learned early on that you shouldn't try to be all things to all people, you are not good at everything. It is a mistake to take on far-reaching service offerings, develop products out of your expertise to appease your customers and make extra money.
When you do that you run the risk of client dissatisfaction and service delivery failure, and this causes unnecessary pressure on your team, your budget and your company as a whole. Be authentic and if you don't do it – SAY SO!
Build a strong network and refer that business to someone who has the expertise for it, someone you know like and trust and over time they will do the same in return.
Tip no 3 – Remember that people work for people, not companies
It is rare when a business can successfully operate and grow without talented people. In fact, we often talk about our people being the only asset we have and we are always looking for ways to improve our culture, our benefits, and the reasons why employees would want to keep on working for us.
I believe that many companies forget that true loyalty comes from when team members believe that the organization and its leadership team cares about them personally and professionally. This ultimately results in long-tenured enrolled and inspired employees, which has a very real and direct effect on company growth.
Tip no 4 – Running a business well is different to being good at a trade or profession
Growing a successful business is all about having a good business mind, combined with a strong skillset in your particular area of expertise. Michael Gerber talks about this in the "E-Myth revisited" where we have to ensure that we please the technician, the manager and the entrepreneur in us.
The behind-the-scenes side of business, such as systems, people management, invoicing and operations, are critical to the business being successful. I have seen a number of very smart people get into business only to ultimately fail because they didn't look at their business through the lens of the manager and entrepreneur and instead focused solely on being good at their profession.
Tip no 5 – Stop to review and re-focus
If you don't have a plan, you don't know where you are going. Why are we so good at planning our holidays but we don't have a plan for growing our businesses? If the business is the vehicle through which we get to do what we really want, why don't we have a plan for the most important things that we need to do to grow it?
And when it doesn't grow, do you know why? If you don't set goals you have no way of measuring yourself, your team and your company against pre-determined objectives. As the saying goes "failing to plan, is planning to fail".
Our 90 Day Goal Planning Session every 3 months is not called GrowthCLUB for nothing.
I want to invite you to join our next GrowthCLUB 90 day planning session on the 22nd November 2017 and let us help you work on and develop your business goals for the next 90 days, so that your business can grow.
If you want more info about this event visit our website at: http://www.bertweenink.com/index.php/events/growth-club
We guarantee and promise that you will leave this planning session energised and with a plan ready to GROW YOUR BUSINESS!
Growing Inspirational Businesses Together!
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