If you want to grow your business then check these key factors to ensure you can.
- Ensure you are clear on what you and your staff need from the business. Yes money but people work for more than money and knowing those needs means that when they are met people work harder and more effectively for the business.
- Ensure you know why clients buy from you. If you sell products, group them and find the common reason your clients buy those products. If you sell services, do the same thing. This will provide you the words to talk to your current and future clients.
- Understand how you being in business supports the community so that the community can support you better. People recommend people who they believe are doing good for the community.
- Ensure you can track clients and prospects. This is more than just their phone numbers and emails but their orders, their current situation and their possible future needs. The more your clients believe you can help them the more they will trust you. Find the lifetime value of your customers
- Ensure you track your money – in, out and owing both to you and by you. Cashflow is king especially when you want to grow.
- Ensure that you have an operation manual in place so that staff know what to do when you are not there.
- Manage time. Very few things are urgent unless you procrastinate. Plan your days and weeks and look at the events that are happening that you can participate in.
- Manage your assets. Take care of your equipment, facilities and amenities. People respond better when things are clean and work as they are supposed to.
- Know your margins and remember that some items in your statement of financial performance are there for future planning and replacement (i.e. depreciation).
- As an owner you need to have a balance of doing business and being in business. Doing business keeps you busy today, being in business is required for growth.
And remember, mentoring is a great support to make growth happen. It gives you another set of opinions.
Ask about our growth mentoring programmes.