As a business owner it is vital that you constantly review your businesses growth and take positive steps to ensuring that this is maintained at a high level.
These positive steps include:
Finding and Acknowledging Weaknesses – all businesses have weaknesses, just as individuals do, and it is in recognizing these weaknesses and then finding solutions for them, that will see your business grow. After all, there is only so much you can brush under the carpet before it becomes a noticeable bulge that others will comment on.
Being prepared to Work – there is no such thing as a “lifestyle business” that will earn you millions of dollars while you happily lay on the deck of a yacht off Hamilton Island. Being in business means working toward future goals that allow you business to grow, which then lead to the lifestyle that you are seeking.
Finding Resources – resources are assets to business growth, they are a part of your structural framework that enable you to strategically develop your business well into the future. Therefore, the quality of your business resources needs to be strong, because if your business structure is weak your business can potentially topple over in any breeze, and you want it to withstand category 5 cyclones.
Focusing – knowing who you are in terms of vision, passion and strength will allow you to not only to direct your business along a positive path for success, but also will give you the drive to make your business successful. This in turn, will allow you to gain a competitive advantage within the marketplace that will see your business grow. Losing your focus in business is comparable to losing your car headlights on a busy stretch of highway, in the middle of the night; not only is your vision impaired but also you run this risk of crashing.
Seeking Knowledge – join groups and other initiatives that allow you to connect with like-minded individuals who are more knowledgeable than you. Alliances give you an incredible advantage over your competition, as they allow you to continually grow personally and tap into an endless wealth of knowledge. Plus these alliances also grow, and you continually meet bigger and better business connections, which helps you to secure your businesses roots firmly in the ground.
Developing Strong Business Marketing – your main quest in marketing is to create and increase your businesses customer base, using cost effective methods. If you spend too much on customer acquisition or over the time that the customer uses your business, then your profits will be eroded, and profit erosion is comparable to soil erosion, where everything in its path will eventually fall to its demise.
About the author
Murray Priestley is a business growth advisor, author, speaker, consultant, and the Managing Partner of Portofino Asset Management. Visit his blog and signup free to get tested business building strategies and profit-boosting tips by email, along with blog updates, news, and more! Go now to http://www.murraypriestley.com. For a no-obligation Hidden Profits Assessment of your business go now to http://www.systemised.com/assessment.
“Murray Priestley has 25 years of commercial and asset management experience having served in board, CEO and senior executive positions with a number of global public and private companies.”