What is Business Growth?
When we think business growth, it's easy to think of charts, graphs, stock portfolios, the consumer price index and a whole bunch of other things. However, these things are not growth, but statistics, and statistics can only tell people about short term gains and losses.
The truth about growth is that it is intertwined with a company's business strategy, its goals and its long term prospects. In other words, growth is about the long haul. It's about where you see your company several decades from now, instead of where it's likely headed a month from now. So if you're spending a lot of time thinking about this topic, here are a few suggestion that will help you along the way.
Have a Goal You Strongly Desire
Since we're discussing business growth, you will need to consider what your business is growing into. Do you want a large centralize corporate business structure, or would you prefer a decentralized franchise? Businesses can become any number of things, which is why it's important to be clear about the goals that you're trying to achieve.
Focus on Activities That Play into Your Strengths
The best kind of growth is typically organic in nature, which is why it's important to create a business structure that caters to your strengths. Starting and growing a business that you don't enjoy often requires more effort to run the operation, which basically means that your business is not running as efficient as it ought to be.
Get Immersed in Your Target Market
Another important aspect of growth is being close to the target market. Markets are very unpredictable things, and if a business is not structured to adapt to sudden changes, then it won't grow very well.
Ask for Help When Feeling Stuck
When you're stuck with a problem, look for help. That's what contractors, specialists, mentors, and employees are for. They are there to advise or do things for you that you would otherwise have trouble doing on your own.
Celebrate Small Milestones
Finally, try to celebrate small milestones in your company's evolution. Taking small steps is still growth, and these little victories should be seen as helping you get closer to your long term objectives.
In conclusion, there are many ways to define growth, but these five steps can give you steps to take to achieve the growth you desire for your company.
So having discussed all these things, the question that you should ask yourself is, "What can growth do for me?"
Get more career and business advice from Sylvia via her blog sylviabrowder.com as well as nawomenrise.com!