Empowering Business Growth
When it comes to growing your existing business, you need to know yourself and your team. What are your strengths and weaknesses? Sell your strong points, and consider outsourcing or having someone else take care of the tasks you don’t specialize in. Ask yourself where you are most effective; that is where you will be most valuable to your company and in keeping the organization growing as a business.
The Importance of Goal Setting When Growing a Business
Goal setting must be clear. Without a “destination” your organization will keep spinning its wheels. Set goals, measure your success and reach your destination. When we measure our performance, we are more likely to achieve our goals.
The age-old question “What comes first? We want to grow; do we hire resources and buy equipment or do we sell first?” The safe answer (if you can manage this) is: sell first then add overhead. Don’t forget to sell to your existing customers, it requires less effort to sell to an existing client than market to a new client and hope to get a sale. It is still important to prospect for new clients, without new clients you may not experience the growth results you expect.
The Role of People within a Growing Business
As your business grows, your people should too. Are they able to take on more responsibility? Do they have all the tools necessary to follow you to the next level? Ensure that your company culture is strong, and reflects everything you want it to. Your staff needs to feel a sense of belonging and appreciation in order to be productive.
Don’t forget to book an appointment with a business councilor at the Leeds & Grenville Small Business Enterprise Centre. We can assist you with the answers to all your growth questions. Our team at LGSBEC has many years of experience helping clients understand their challenges and capitalize on their assets. We can work with you to understand and unleash the fundamental growth elements of your organization and help empower your business to success over the long-term future.
We can help you with your business growth. Please fill out the form below to begin the growth process.