Growth strategies

Growth strategies

The best practices to follow when stuck in the business world

Every business is going to get stuck, so don’t feel like it’s just you. It is a normal phase
in which every entrepreneur goes through. When you are building a business,
sometimes you feel like you want someone else to come and figure everything else
out. You also think of hiring the best marketing person that you possibly can, so they
can help you figure out how to grow your business. But the reality is that hiring the
right people is not enough. Besides, that alone won’t help you grow. There is a
difference between hiring people to come into the business to help you with growth
strategy and hiring people to just try and fix your problems for you. 
We need to be able to figure out our problems ourselves as entrepreneurs. We are
problem solvers and we need to get good at solving problems. Otherwise, we’re not
going to be able to grow and develop. It means we learn; we grow, we expand into the
business owners that we need to be to take things to the next level. It all starts and
ends with You, with entrepreneurship. As the leader of your team and for your
business to grow, you need to be there all the time for them and your business. It’s
just like parenting, but on a business level. 
Having your own business is challenging and rewarding. It is important to plan and
set your goals in the long term. So, if you are feeling stuck in your business, get to the
next step with these Growth Strategies:

Get clear on what you need to figure out. 
So, make a list. The next thing you need to do is to prioritise the list. Look at what is
most important for you to figure out right now and decide what is the number one
thing that you want to work on. Put the time and effort and figure out how do you
become the best problem solver you can be. People that you hire are going to be
experts in certain areas and know more about something than you know. But you still
need to be able to lead the team and lead everyone. 
Selling is a transfer of enthusiasm. Business owners need to show their enthusiasm
for their product or service, as well as for their customers. Besides showing passion,
business owners need to be optimistic. You have to look for the good in every
situation and look for the lesson in everything that goes wrong. 
Focus on the customer. The purpose of a business is not to make a profit. It’s to
create and keep a customer. You want them to come the first time, then come back
again and finally bring their friends. You have to increase customer satisfaction. You
have to listen to your customers and be involved in their buying experience. 
You must have a competitive advantage. If you don’t have one, create one. It all
comes down to your USP or unique selling proposition. This is what makes you better
than your competitors. It can be your location, your product, but often it’s you. When
customers think of a business, they often think of the people who make up that
business and especially the owner. 

Last but not least: put together a business strategy. A business owner should
always focus on sales, revenues, and cash flow and to know every day how much
money is being made. Focus on your net profit, not your gross profit. It will give you
a more realistic view of how the business is doing. Look to idealise your business,
think about how perfect your business would look like, and then figure out what you
need to do to create it.

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