10 Steps To Grow Your Business

You are a hard working entrepreneur and business owner and you find that you are doing the selling; customers only want to deal with you and not anyone else in the business,  business slows when you are away and your sales are slowing. This means that you can’t find the time to work on your business to grow it and achieve your vision and goals. I call this The Owner’s Trap.

Here is a summary of the 10 steps that I work through with my clients to help them grow their business so that they can get out of The Owner’s Trap and achieve their personal vision.

These 10 steps are:

  1. Understand WHY you want the business – what are your PERSONAL aspirations?

  2. Define what YOUR Core values are and how you do business and relate to people around you

  3. Consider what business you are in – Ask yourself What are customers buying from you? and Why do they buy from you?

  4. Create your long term business vision – where do you want the business to be in 5 years? This should be challenging and include both quantifiable and qualifiable goals.

  5. Future proof your business – Consider what the impact of external factors such as Social, Technological and Political will have on your business. These could have either a negative or positive effect on your business. For example, how has remote working affected your business and what technology can you use to continue this new way of working to enhance the productivity of your staff?

  6. Look at the market you are operating in and ask yourself the following questions:
    • What market are we in?
    • Who are our best customers and why do they buy from us?
    • What are the competition doing and how can we prevent our customers from moving to them?
    • What is our product mix and analyse the profits you make on the various products? Which ones are the most profitable and which ones are loss makers?
    • What are our suppliers doing and can we rely on them to continue supply to us?

  7. Look in the mirror at the business and consider the following:
    • What are we Great at?
    • Where can we make Improvements?
    • Where are our Vulnerabilities? Are we reliant on only one supplier and what will happen to the business if we cannot buy from them?
    • What gives us the Edge over our competition?
    • Do we have a sustainable competitive advantage? Ask yourself the following:
      • What makes us Different?
      • What makes us Better?
      • What do we want our customers to think?
      • What do we want our customers to do?

  1. Define your Strategy

  2. Engage the team with the vision and share with them the challenges to achieve the Vision. Ask them for their ideas and input and then use this constructively in the plan. It is statistically proved that engaged and motivated employees = great customer service = higher profits.

  3. Create the plan and implement it.

I started as a Business Doctor after working for 30 years in various corporate roles, the last being 15 years with an automotive company in London where I was the Chief Financial Officer. I am passionate about helping business owners grow their businesses to achieve their vision.

If you would like to discuss your growth plans, please give me, Gary Brown, a call on 07974 136203 to arrange a time that suits us both for your one hour Free Health Check.

 

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest