So, let’s examine the five things you need to have in place before your business can grow…
A plan
Growth without planning is like setting sail without a map. You need to know where you intend to go and how you plan to get there before you set off.
Otherwise, you put both your vessel and crew at risk of running aground.
Planning for growth involves knowing exactly where you are now, where you intend to be and charting a very clear course of how you intend to get there.
People
Truth be told, there are two ways you can embrace growth when it comes to staffing. You can build it and hope the right staff will come, or you can have the right people in place and expand using their skill.
The latter often works far better than the former when it comes to key moments of business growth. With the right staff already in place, you can expand at speed in the knowledge quality and service will be maintained.
Systems and procedures
They may not be glamourous, but systems and procedures set you up for the scalable, repeatable success that drives business growth.
Basically the ‘how to’, ‘when to’ and ‘who by’ that creates the inner workings of your business, systems and procedures improve a whole host of areas, including training, efficiency and staff productivity.
A grasp on your numbers
Your numbers tell detailed stories about your business, including your strengths, weaknesses, opportunities and threats.
Only when you understand exactly where you are now in cold hard numerical terms, can you begin to plan for where you intend to go in the form of KPIs and targets.
In turn, consistent evaluation of your numbers will tell you whether your growth strategy is working or whether something needs revision.
A growth mindset
A growth mindset is the frame of thinking that sees you welcome and seek opportunity rather than fearing competition and change.
As a business, it allows you to:
- Understand threats but embrace opportunity
- Look to the next phase
- Learn from business mistakes
- Foster a culture of learning in your leaders and your staff
- Welcome challenge
- Look to innovate
- Have a clear vision of where you wish to be
All these are imperative to a business looking to embrace a new phase, and you can learn more about how to foster that mindset here.
In the meantime, if you’re looking to grow your business, I’m available to assist with planning, goal setting, and proven strategies all focused on business expansion and growth.
You can book a discovery call directly with me here, or learn more about my services here.
Talk Strategy with Clive
With more than 30 years’ experience in mentoring small to medium-sized businesses around Australia. Clive works with company owners and their teams to grow their business and achieve goals through strategic coaching.
