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Growing a
Business
You would like
to increase your returns from business and you are
wondering what action you should take!
Set your
goals
Your logical
starting point is to
set goals. Decide what you want from your life and
appreciate that the business is a key vehicle to achieve
these personal objectives. So what outcomes do you want
from your business.
Identify key
people
Small business
success is about people, even if you are a sole
operator. These key people include mentors, suppliers,
major customers, centres of influence and your family
and staff members if you have them. Strengthen your
relationships with these people and understand them and
learn from them. Leverage of their energy and
positiveness to take you forward.
Identify key
attention areas
Analyse your
business to assess where action is likely to bring most
results. This analysis is likely to involve:
-
Benchmarking
or assessment against Key Performance Indicators (KPI’s)
-
SWOT
analysis – identifying your strengths, weaknesses,
opportunities and threats
-
Opinions of
key players (Owners, staff, suppliers, major
customers)
-
The
communication within the organisation
Develop key client program
Who are the clients most crucial to
your business. Are they appropriately serviced.
Develop your
actions plans
This is likely
to include:
-
Budgets
-
KPI’s
-
Review of
Job Roles especially with regard to what you can
delegate
-
Upgrade of
systems and Standard Operating Procedures (SOP’s)
-
Focus on
your key attention areas. Following on from the
Pareto principle you should be focusing on the 20%
of activities that will bring you the most results.
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