So You Want To Grow Your Business?
Businesses are either moving forward or they are in retreat. The world changes around them and they need to respond. Key customers move on, senior staff spread their wings – life happens. Maintaining the status quo is hard. It’s often when things are going well that it’s time to be investing in the next stage of growth.
If you’ve made the decision to grow, the next step is to understand what that really means:
- More turnover?
- More people?
- More profit?
- Greater geographic spread?
- Meeting deeper customer needs?
- A wider client base?
It is often assumed that growing your business is the way to produce better outcomes, but that’s not always the case.
- What will business growth really bring you?
- And what are you prepared to do to achieve it?
- Are you looking for a short-term boost?
- Or sustainable long-term growth?
- Do you really want to grow bigger - and become more complex?
- Or grow better - and be more efficient?
Whatever business growth means to you, it helps to explore options with someone who is independent and impartial. Get the clarity you need before committing to the wrong course of action.
Overcoming Business Growth Challenges
By definition, growing a business involves you taking it somewhere it’s never been and doing something you’ve never done.
It’s a step into relatively unknown territory. You may discover that what’s got you here, won’t get you there. You may need to acquire new skills, do things differently, work with new people and adopt new approaches.
The barriers to change may be significant:
- not enough time
- limited customer base
- wrong staff structure
- shortage of skills
- narrow product range
- inefficient systems
- inflexible business model
- under-performing team
- insufficient cashflow
The list goes on…
A key step in planning for business growth is to be honest with some of the current challenges and barriers to growth – then working out ways to address them.
Leveraging Business Growth Drivers
Fortunately there are also many things that are going well – otherwise you wouldn’t still be in business now would you?!
Businesses don’t grow by building on their weaknesses, but by leveraging their strengths and responding to opportunities – in a planned and sustainable way.
Some of the driving forces for growth could include:
- a growing customer demographic
- customers have an appetite for a greater range of products and services
- the market could support more expensive products and services
- the business has a strong, talented team, willing and able to offer more
- the team have strengths that are not being utilised
- the business is profitable giving a potential to re-invest for future growth
- the target market congregates in places that are not being targeted
- demand is outstripping the business's capacity to supply it
- customers are moving to new digital platforms
So one of the key things a business growth specialist can do is to identify with you the untapped potential of your business. Creating new ideas for successful business growth by looking at what you do well and how that could be used to your advantage.
Are you disappointed with your business growth?
- Do you feel that there is unrealised potential in your business?
- Are you tired of the feeling that your business is being held back?
- Do you want to unlock the growth potential of your business?
If so, then you may be interested in trying this free business tool. With it you can analyse the key issues in your business, discover the brakes holding things back and the driving forces for growth.
Download it now and you can start to unlock the potential of your business today.
Andy Turnbull - Your Business Growth Coach
About me:
- 20+ Years Experience
- Former Finance Director
- SME Specialist
- Impartial Sounding Board
- Commercially Minded
- Independent
- Approachable
About my services:
- Professional
- Confidential
- Individualised
- Flexible
- Jargon Free
- Practical Solutions
Get in touch to start the conversation
Quick chat
Book a short 15 minute conversation to say hello and ask any questions.
No sales pitch. No obligation.
Business Review
A longer conversation to help clarify the issues and explore if/how business coaching could help.
No charge. No obligation.
Availability is limited, so apply for one today.
What is Business Coaching?
Business coaching has two distinct areas of focus:
- the practical growth and development of your business and
- your personal development as a business owner / manager.
Most importantly it enables you to take time out to work on your business rather than in your business – to take a step back so that you can take the next step forward.
The Benefits of Business Coaching
There are a number of financial and non-financial benefits to business coaching, some short-term and others long-term.
Far from being a cost, business coaching has a positive return on investment and can pay dividends year after year.
You can read about the many benefits of business coaching here.