[Post actualizado 2020]
All companies want growth as a natural part of their goals.
Well, whether you have two collaborators or twenty you will always be interested in your business growing and expanding.
What not all entrepreneurs contemplate is that just like starting a business, growing it is also a planned process, or at least it should be. And when I say comprehensive, I mean that all the necessary elements for this business development to take place in a positive way and lead you to obtain better results and of course, better profits.
Of course, you will find several models to boost the growth of your business, however, there are some fundamental principles that will undoubtedly help you grow in an orderly and controlled manner without losing control of your organization, which is extremely important.
How to Grow Your Business (11 Keys)
1. Constant business supervision
One of the most complicated but at the same time most important things in a company is to maintain control and be aware of everything that is happening to make the right decisions at the appropriate time.
In this sense, it requires a lot that the owner get involved and be aware of the needs and problems that arise in the important areas of the business.
Get trusted, prepared, intelligent and passionate people to entrust them with this delicate mission of being “your eyes” within the company.
Good supervision can make the difference between failure and success for the company. Production can improve, the use of inputs can be more efficient, purchases can be smarter and in general, all your resources will be better used.
2. The eye on the beads
If I have seen something in businesses that grow, it is that the owners are always at the bottom of the box, receiving the money. That is probably one of their great secrets. So a good tip is to always keep an eye on your bills and be very meticulous about where every penny is.
The boldest entrepreneurs are often very careful in this regard and never take expenses lightly. If you are not good at numbers, hire an accountant to help you sort your accounts, but finally remember that the responsibility for finances is entirely yours.
3. Sell, sell and above all, sell
I always say it in my seminars and I will keep it for life. If there are no sales, there is no business.
You can be the best manufacturer in the world. You can have the best engineers or be a great technology creator. But none of all that will do if you don’t learn to sell.
Producing is important, but selling our products and services is even more so. If you are not a sales expert, start by taking a course today.
Hire salespeople, find people to go and place the product, attract customers and close deals. That will bring cash flow to your business, keep it healthy and fit for growth.
4. Better costs, more profits
Proper cost management is a science, to put it in some fancy way.
And it is not for less because the good management of costs is the big difference in your profit margins.
Of course, the perfect balance between cost, quality and productivity must always be sought. For example, it would be useless if you sent your messenger to deliver mail on the bus under the premise that “es cheaper because we save fuel“Since the performance of what it could deliver on the day would decline considerably.
Hence, you should always try to obtain the best benefits at the time of buying to guarantee greater profitability in your business.
I recommend: The Profit Is When You Buy
5. Set annual, quarterly and monthly goals
Who does not have clear goals, gets nowhere. For your company to grow and develop, it is necessary to set goals that allow you to measure how well you are progressing.
Hence the importance of regularly setting goals that your work team knows and with which they can commit.
Setting goals is a phenomenal exercise that will help you clearly know where the organization is going and eventually correct course in an orderly and planned manner.
Also, remember that missing a goal, a deadline, or an objective is not the end of the world. But not having goals, if it could mean the end of your business. [twitéalo]
6. Create and promote your brand
If you don’t have a brand, start working on it today. Then start building your brand and adding value. This is an intangible process that we rarely value but that can be a determining factor for the growth of your company.
If you don’t know how to work your brand, seek some advice and make sure your collaborators know where they are going.
7. Encourage loyalty and teamwork
One of the great values of your company is your staff. Your work team. Nowadays it is increasingly difficult to find loyal collaborators, prepared and committed to the vision of the company.
Hence, putting together a good team and constantly encouraging them to join is very important.
Good treatment, fair conditions and recognition are just some of the ways you can keep your staff motivated and with your eyes on the business goals.
8. Focus on what’s important
Focus is knowing exactly what we want and working on it, without distractions.
Approach has to do with defining priorities, including them in a plan, and working on them. Many companies, in their eagerness to cover more market, improvisedly integrate different lines of products, varied services and end up doing a lot of everything and little of nothing.
Which instead of being translated into better income, is usually exhausting and can represent a significant drain on resources.
Focus, objectives and good planning will help you not lose your way and always know with total clarity what you really want to be in 5 years and work focused to achieve it.
9. Always transmit a vision
Leaders transmit, inspire and guide work teams towards the desired path.
To grow you need vision, you need to see what others cannot see. Vision is that fuel that generates the energy to keep working hard to achieve it.
I recommend: How to Define the Vision of your Company
10. Take care of your customers
What are companies without customers? What can be achieved if we don’t take care of our customers?
Surely you know the answer: nothing!
The customer represents the life of our organization. So you can’t afford to neglect them, poorly serve them, forget them, or simply “not listen to them“.
“If you don’t take care of your customers, someone else from the competition will.” [twitéalo]
Especially today, in the age of information and social media, customers will find options very easily. So if you really want ideas to grow your business, here they are: take care of your client.
11. Reinvest a percentage of your earnings
Last but not least, reinvestment. For a company to develop, reinvestment is required in such a way that each of its areas is strengthened.
Especially at the beginning, this is very difficult if you do not have a budget for it, which is why you should pay even more attention to this important principle as it is one of the keys to growth.
Each year reinvest a percentage of your profits in training, automation, research and everything that helps you differentiate yourself from your competition. Only then will you be able to grow your business healthily.
As I always say, do not pretend to do everything at the same time, take these tips and start working on them, implementing them one by one so that the results come.
Successes in everything!