10 Tips to Grow Your Business Plain and Simple
“Try not to become a man of success but rather
to become a man of value.” Albert Einstein
The majority of small businesses operate at 60% of their potential
I once heard. While unable to obtain the source it seemed accurate or maybe even high. *The Small Business Association reports
that 7 out of 10 new employer firms survive at least 2 years, half at least 5 years, a third at least
10 years, and a quarter stay in business 15 years or more.“” These statistics can and should align us with a realistic view about our
businesses while building the dream. Read on for 10 tips to help you develop and grow a strong, solid business foundation.
1- Solid Plan with a Clear Simple Vision- Think of the impact you would
like your business to have in the world. Think big! You may never reach your ideal vision, but the vision itself is so grand
that your team can get excited about it and it sets you up to be unlimited. Then back up. Look at what needs to happen to
get there. Create a solid plan with realistic short and long term goals that are achievable.
2- Focus on Profitability vs. Revenue-
While revenue is important, high revenue does not add value if your expenses are just as high. What
can you do to create more profit? Begin developing various streams of income. What expenses can be reduced or eliminated?
How can you operate more efficiently? Think profit.
3- Work “in” and “on” your business-
We get so caught up in daily tasks “in” our business we forget to step back to take a wider
view from the outside. See it through the customer’s eyes. Look at how it fits into the community. Prepare the future
of the company. On the other hand, we can get so comfortable working “on” our business from a planning or management
stand point that we forget to step in to talk with customers, handle details, and experience what the employees face
daily.
4- Automate and Create Systems- What do you need to automate? What system
can you put in place that would free up your time or make you more money? What tasks need to be eliminated, systematized,
or delegated. What system would help your employees be more effective and provide the best service? Is there a system that
needs to be upgraded? Automation and systems help your business be consistent and efficient.
5- Consistent Marketing Plan- Marketing
expert Jay Conrad Levinson of Guerilla Marketing has said that “I hate to admit this, but mediocre marketing with commitment
works better than brilliant marketing without commitment.” It is important to have a marketing plan in place that is
consistently and persistently being carried out on a daily basis....not just when you need more customers.
6- Increase
Value to Your Customers- Give more than customers ask for and more than they expect.
There are 3 convenience stores by my neighborhood. The first one built I visited regularly and was satisfied. The second I
visited a few times and had to wait every time to get checked out so haven’t returned. Every time I got gas at the third
store I was greeted over the intercom with a friendly “Hi, how are you today?". Inside they were friendly and provided
kids with a free lollipop. They even added a Post Office. Who do you think got my business on a regular basis with just
a little extra effort? The one that gives more than expected. What value can you provide that will
increase your
“Wow” factor?
7- Innovate- React to the customer’s needs before they know they
need it. Sell what the customer wants, then give them what they need. How do you know what they need? Take time to talk to
them. At a minimum talk to your best customers and learn from each one you’ve lost. Find out what they would like and
what their challenges are. Stay current on market trends in your industry.
8- Leadership vs. Management- Empower
your staff to manage themselves. Do you really want to spend your time problem solving? Train them well. Make sure they
know the vision of the company and they are on board because there is a personal win in place for them. The personal win gives
the employee motivation to cooperate as part of the team.
9- Well Oiled Machine vs. Chaos-
Is each section of your business operating efficiently while working together towards a common
goal? Or is your team expending time and energy putting out daily fires. What shift would move your business out of crisis/
problem-solving to operating with ease?
10- Develop YOU! - Take one minute to hold your breathe. As you are
holding think about what you really want. See what happens. You may have had trouble thinking about what you want because
your needs were not being met. When you take care of yourself and feel strong, healthy, happy, and have time and space in
your life, then you can focus on what you want and attract more to your business.
Take one step at a time to build a strong, solid business. Along the way build lots of reserves...time, money, space,
revenue sources, future products, etc. and begin filling the gap to your potential.
Today’s
Dare to Take Action Challenge:
Focus on one tip above for one
week. What changes can you make? Take action, build momentum, and move on to the next as you develop a strong foundation to
grow on… Starting Now!
