Has your business reached a plateau? Are you finding it hard to both run AND grow your business?
You’re not alone. Lack of time is considered one of the biggest obstacles to business growth among entrepreneurs, with demanding day to day business operations leaving little or no room for business development.
To move your business to the next level, you need to step out of your to-do-list and spend some time strategizing! Here are four important steps to get your business growing:
1. Make the decision
Without a clear commitment, chances are you’ll stay where you are. But to decide, you need to know what’s at stake. What is the opportunity that you want to go after? What do you really want for your business? And what will the benefits and the costs of growing be? Make these things as specific and graspable as you can. Looking at the equation, if the prospect of growing still makes sense and excite you, then this might be your time to commit to a bigger business!
2. Draw the map
Once you know where you want to take your business, you want to find the best way to get there. Draw up the main milestones that you want to achieve. What are they, and when do you want them to happen? Think about all the potential pitfalls and do some contingency planning. Being visionary is awesome, but managing risk isn’t too bad either. 😉
3. Put yourself in the right position
Growing is an opportunity to do and feel better – that’s why this is a great time to look at your role in the company. What are your key strengths – and how can you make the best use of them to add more value to your business? For example, if you’re a strategy person who has gotten stuck in admin, then that needs to change. You want to take charge of growth by being the best you can be and making sure that you stay motivated. Delegating our outsourcing certain tasks can accomplish just that!
4. Get the resources
Growth requires investment. Without injecting time, money or expertise into the company, it’s highly unlikely that you’ll see any movement. What are the main investments that you will need to execute your growth strategy? Which ones are the most urgent, which can wait until later? Write down the numbers and plot them on your timeline. Map out and expand your current network to reach key individuals that you might need to succeed – whether it be a mentor, a partner or a potential investor.
Growing is a lot of work – but with a clear commitment, a powerful plan and the right resources in place, it’ll also be fun and incredibly rewarding!