How to Grow a Business

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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.