Business Growth Strategy: From Sapling to Full-Sized Tree
For my business blog, I decided to dive into the topic of Business Growth Strategy. You may see that title and ask, “What the heck do you mean by business growth strategy? Do I really need a ‘strategy’ to grow my business other than do good work and charge an appropriate price?” You do. Call it mindfulness or strategy or thoughtful planning.
My goal is to learn, develop, and eventually grow from the original small idea of supporting small business owners to a structured high-functioning business. To get there, I need a flexible and thoughtful business growth strategy and it needs to be both well organized and customized to my needs.
The original idea for this blog post came from sitting in a mastermind group. I was hearing the value that each person brings to their clients — accounting, financial services, human resources, company culture, productivity, and purpose. It was an “ah ha” moment where I realized how fortunate I am to be supported by these incredible advisors. Without them, my business would have remained on a plateau or flat-lined long ago.
Planning, Process, and Goals
These items are the keys to successful business growth. At least that’s been my experience. It’s not enough to have an “awesome product” or “life-changing service” to sell. Your business is like a child. It needs attention and care.
There are 3 key areas of a business growth strategy, outside of marketing and sales, that deserve both attention and planning. If these areas are weak, then your profits will probably reflect it. First, you should look at your business strategy. Then consider how it impacts your:
1. Operations, 2. Customer Service, and 3. Core Competencies.
You’ll need to read the full blog post at BeckmannCollaborative.com to understand all of the details, but here are the big takeaways…
The challenge is to work IN your business. If you do not have some form of a business strategy, then schedule 2 or 3 hours this week to think about it and write it down. Even if you do have something in place, set aside time to elevate what you have already written and whether is still aligns with your journey.
1. With a business strategy in place, create a simple checklist (think of this like a brain dump) of every process in your business. From responding to customer emails to bookkeeping and beyond. Identify the planning and process that you want to document. You may want to leverage a tool such as Process Street.
2. Looking at your list of internal processes and begin to prioritize them. Decide which ones should be documented immediately and who they are delegated to — you or someone else on your team.
3. Write out your processes, step by step, or make videos to explain how things are done. If the process belongs to someone else on your team, then have him or her do it. Then put them all together in one centralized file or space.
Following through on these three steps you will shift so many things in your business from “on the fly” to structured and concrete. These are the keys to a Business Growth Strategy.
Check Out this post and more small business insights on my blog at BeckmannCollaborative.com/Blog