As business growth professionals, Fetola is focused firmly on helping entrepreneurs and business owners to succeed. We like this short, practical series of tips on how to accelerate the growth of your business from Synnovatia, and hope you find value in them as well.
There’s a cost each entrepreneur pays for doing business in today’s marketplace. There is an emotional, physical, financial, and spiritual price paid for the success you achieve. To maximize the return on your valuable investment of time, money, and energy, shift from maintaining to growing your business with these ten strategies.
1. Clear your calendar of all projects or commitments that pull you off track.
We live and work in an information-rich environment. This hyper -informational environment causes loss of focus, especially in the absence of a plan.
2. Eliminate all sources of delay.
We work in an ‘instant society’. Clients want what they want when they want it. Plus, if you’re not out ahead of the crowd, you can soon be trampled by the competition. Any sources of delay – including your suppliers – are necessary to get rid of
3. Stop doing what’s not working.
You’ve heard the definition of insanity, right? It’s doing the same thing and expecting different results. Although we’re familiar with this well-known saying, it doesn’t seem to stop entrepreneurs from continuing to execute on strategies that STILL aren’t working.
4. Put yourself and your needs first.
The airlines have the right idea when they request you put on your oxygen mask first. As entrepreneurs, you’re no different. Although you may think you’re doing the right thing by putting your client needs before your own, ultimately the client deliverables suffer – as does your business.
5. Find the exact type of work and market that makes you feel good emotionally, intellectually, and spiritually.
The most exciting aspect of today’s business environment is the ability to customize your business to fit your talents, values, and strengths. Your performance spikes when you’re doing work you love.
6. Be specific about what you want to accomplish.
“Make more money” or “grow my business” are both nice goals to have although both are too general. You never really know when you’ve achieved goals that lack precision.
7. Create a concise plan for achieving your goals.
Without a crisp, clear map to direct your efforts, you’ll be like a cork on water floating where the wind takes you instead of where you want to go.
8. Create a network of 1000 people who respect what you do.
Your business can’t grow in a vacuum. The more people know about you and respect your work, the easier it is to create the critical mass needed to fast forward your business growth.
9. Serve your customers in new and innovative ways.
You need to be daring and be different in order to stand out in the world of business today. It’s worth the perceived risk and your customers will ‘thank you’ for it.
10. Hire a business coach
Although this sounds a little self-serving, even a good business coach has a good business coach. Business is too complex today to grow it alone.
This article first appeared on the Synnovatia blog.
Jackie Nagel has been transforming small businesses for 17 years. Her extensive background and training in sales, business, coaching, and entrepreneurship enable her to provide strategic business strategies that target her clients’ personal and business needs. Jackie is certified in Management Development for Entrepreneurs from UCLA’s Anderson School of Business. Follow Jackie Nagel on Twitter (@synnovatia)