7 Secrets for Successful Business Growth

If you want to grow your business, and I mean really grow your business, then here are a few simple but powerful secrets you can use. When you get to the end there is an eighth and even more powerful secret to share!

7 Secrets + 1

  1. Know what you do and what you don’t do.

The temptation for many small business owners is to do anything to earn the next dollar. In trying to be all things for all people you end up not being good at anything in particular. You are not even average, you are mediocre. And mediocre does not stand out, nor does it sell. No sales, no growth.

  1. Know your strengths.

If you want to grow successfully then you need to know what your strengths are. What are the things that you love doing that you do well?  What are the things which you do which have the greatest impact?

Using your strengths allows you to raise your performance and improve your results on a sustainable basis. Don’t make the mistake of trying to improve by addressing your weaknesses, all that does is improve your performance to an average level at best, and you may not be able to sustain the improvement.

  1. Be the prize.

Too often business owners are prepared to work with anyone to win more clients and earn more money. This just makes you look desperate and needy. Frankly, when were you impressed by somebody who was desperate to work with you? You weren’t! So be selective with whom you work with, and hold yourself out to be the prize they want to have and work with! By holding back, you appear more attractive.

  1. People don’t buy what you do

Sorry! The world does not revolve around you.

People are not interested in what you do. I know you are interested in what you do, and you love it, but it doesn’t matter. People are only interested in what you do for them – and there is a world of difference in this! They buy the results and outcomes that you help them realize. So, help people buy by articulating what you do for them clearly and concisely.

  1. Speak their language

Do you remember the first time you want to a foreign country where no-one spoke your language? What were the feelings and thoughts you had at the time? If you want to be understood, make sure you speak their language. Don’t use the industry jargon that you and other fellow professionals use, it just confuses and alienates your customers who don’t share your language. When people feel confused or alienated they want to avoid taking risks, and so they don’t do anything. So, speak with your audience in mind so what you say is what is heard.

  1. Don’t shout, just whisper

We live in a noisy world. Everyone is trying to gain our attention, we are submerged in a deluge of information whether we are at work, at home or elsewhere. If you try to shout louder than anyone else all you will get is a hoarse throat. To outshout others, you need to outspend them in broadcasting your message in the hope that somebody will hear you, and then hope yet again that they will act on it in the way that you want them to! Some chance!

Better to whisper.

To whisper, and to be heard, you need to have a message that your audience is already attuned to. Rather than broadcasting to everyone across all frequencies you need to pick a single radio channel and transmit to those who want to listen to your radio show. By broadcasting country music on your radio show there will be many who aren’t interested, but those who are will be ready to listen and act on your message!

  1. Being good at what you do is not enough

You might believe you are the best at what you do, but it doesn’t matter. Being technically good at what you do will not make you successful. I have come across many business owners who are good at what they do, but their business is in a terrible state. Having technical savvy does not mean you have business savvy. Look at your business through “business glasses”, not your “technical glasses”

Bonus Secret:

Now you know these seven secrets here is the bonus secret I promised you. It’s a simple three-word phrase you probably have already heard – “Just Do It!”

To grow requires action. So, don’t just read these seven secrets and think “Oh! That’s interesting!” – do something with them. Take action now. Choose one thing you can do – right now – and which will help you grow. Share the one thing you are going to do in the comments section below.

To view or download a PDF version of this blog click here

Share your thoughts and ideas here, or email me at andrew.cooke@business-gps.com.au

If you found this article of use or interest please don’t hesitate to share it with others.

Click here to find out more about Andrew Cooke and Growth & Profit Solutions.

The 7 Questions for Growing Your Business

How you can improve employee commitment and engagement demonstrate respect.

When you are looking to grow your business there are three steps involved: firstly, determining what your business will look at a given point in the future; secondly, what the business currently looks like; and finally, how you are going to bridge the gap between the two.

I always begin by looking at what I want the business to look like in the future. Why? The future does not yet exist, so I have the opportunity to create it from scratch. The future is not just an extrapolation of today – it is new and exciting! Your future can include current offerings, adapted offering, new offerings or offerings that you no longer make available.  Similarly with your customers you may be serving existing, adjacent or new customers, or you may no longer serve some of your existing customer groups. In short, starting with tomorrow frees you from the constraints of thinking of today.

At the heart of growing your business are two key outcomes you are looking for:

  • Growth – you are looking to grow and develop your business
  • Profit – you want your business to be more profitable in the future to make it sustainable

Driving these two outcomes are seven areas, the seven Ps, which surround them. This is shown below.

Th e 7Ps  Driving Growth and Profit

  1. PurposeWhat is your “Why”? – what is the reason for being for your organization that inspires and engages you and others?
  2. PatronsWho are you customers? – what customer segments do you serve and with which offerings?
  3. ProblemsWhat issues do they have? – what are the problems they need help with, or the jobs they are looking to get done?
  4. ProductsWhat are our solutions to their problems? – how do you help your customers with their problems in a way that the customers sees as valuable, which differentiates you from your competition and which will make you money?
  5. ProcessHow do we deliver the solution? – this includes everything that is involved in creating, supporting and delivering the solution. This includes everything within your business, and with the other businesses you work with or through in creating and delivering the solution.
  6. PeopleWho do we need to run the process? – what people do you need and in which positions, and what skills, capabilities and attitudes do they need to have to do the job efficiently and effectively?
  7. PromotionHow do we promote ourselves to our Patrons? – how do you reach out to your different customer groups and how do they want to engage with you, and what channels are most effective for doing this?
  8. Growth & Profit – this are the outcomes you achieve from getting the above seven factors right, and being able to leverage them effectively.

Use these questions as outlined in the table below to help you think this through in three steps:

  1. WHERE do you want to be? (future)
  2. Where are you NOW? (present)
  3. HOW will you bridge the gaps? (strategy)

So don’t wait – start this now. Share your thoughts and ideas with your colleagues and see how you can create your own future and bring it back to today!

To view or download a PDF version of this blog click here.

Share your thoughts and ideas here, or email me at andrew.cooke@business-gps.com.au

If you found this article of use or interest please don’t hesitate to share it with others.

Click here to find out more about Andrew Cooke and Growth & Profit Solutions.