7 Ways To Grow Successful Business Part 1

Every business owner without an exception, when asked, expresses the desire and need to grow their business, irrespective of its current size. Which I think is perfectly understandable given that no business, at least, the once I have come across is set up with the intent to fail.

However, as in any living thing, such as a business, growth means taking certain calculated steps or measures to ensure the process of growth becomes a reality with practical and deliberate effort to make it happen.

In all purpose and intent, I believe that any significant growth is dependent on what I call the “Seven Pillars of Business Growth”, namely:

1.You 2.Your Customers 3.Your product or Services 4.Your strategies 5.Your Systems 6.Your networks 7.Your Plan

We will look at each of the pillars in due course. In this post however, I will talk about 3 basic ways to grow your business especially in the current state of heightened uncertainties in local and national economies around the world. I will talk about a few more in subsequent posts.

1.Plan to grow – You must start by realistically planning to grow the business. Its not enough to just be talking about or wishing to grow. A deliberate effort is needed in planning towards it. Prioritize by establishing specific areas of the business to focus on for a given time period. It could be three major areas or departments for the next 6, 12 or 18 months. Examples include:

• Improving and adopting a new marketing strategy for the next 6 months 
• Focus on building relationship with existing clients in the next 3 months 
• Invest in a new technology withing the next 12 months 

Note: Don’t forget to review the plan. The frequency of which will be largely dependent on the pace of the industry you operate in.

2. Improve on your products and services - To be in business and last in business largely depends on what you are offering – products and services – and how you do it. It is very important to constantly look for ways to improve on them to ensure a meaningful growth in your business . You simply CANNOT compromise on “Quality Products” and/or “Excellent Service”. Because these two always win in the end, in the battle to survive in business. In this age where building of a brand is so essential, lack of quality will kill a brand in no time.
Someone once said, “Build a better mousetrap and the world will beat a path to your door.”

3. Seek ways to increase sales - Although this might sound as the objective of most businesses, how to effectively do it needs to be appropriately considered to ensure maximum returns. Some of the seemingly insignificant but basic issues to address are:

Treat the customer right. Because if you do you stand to gain a lot from them.
Get rid of your personal prejudices and any attitude issues. (This goes for most single managed businesses which forms a significant percentage of existing businesses in most economies). Because even if you offer the best products or services you don’t want personal (or that of your employees) prejudices and negative attitudes to interfere with your image. It can have great consequences.

Getting the above right will put you on track for successful growth. Because often times all it takes is good testimony of a customer by ‘word of mouth’, to inspire other customers and clients to call you or come through your doors, and guess what its usually FREE. You can equally take advantage of this to device referral schemes to encourage and solicit referrals from existing clients. This can significantly help you grow your business.

Look out for more strategies in my next post.

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