What Are The Rules Of Growth For Small Businesses?
Posted in Small Business on January 12th, 2012 by Crystal Powers – Be the first to commentWhat do small businesses that achieve sustained growth do differently from those that do not grow?
You need to realize that there are no silver bullets or 17-point checklists that will lead to guaranteed growth. But what we do have are seven specific areas in which growth companies concentrate their efforts.
Having a strong sense of purpose. There are leaders who have achieved growth and most discover that it takes more than the promise of increasing financial reward to fuel their aspirations and ambitions. A higher calling is what they find instead of simply being in pursuit of more money.
You must have outstanding market intelligence. This refers to an organization’s ability to first recognize, then adapt, to fundamental changes in the marketplace. Many times, small-business owners become too myopic, seeing only a limited view of the markets in which they compete. What growth leaders see is the bigger picture.
Plan for an effective growth. The best predictor of whether or not a business will grow is this tip. A plan for growth does not need to be overly formal or complicated in order to be effective. But you have to make sure that it is written, well-communicated and regularly updated.
Having customer-driven processes. Very few are really customer-driven but it seems that these days, every company I talk to believes it is customer-driven. Take a look at all of the business processes from a customer’s perspective. Do you think they are in place to make it easier for the company, or to help deliver on the promise of faster, cheaper and better for the customer?
The power of technology. What successful leaders don’t do is let the boom and bust of technology cycles give them the excuse to ignore that we live in an information age. If a company is in business, it is in the technology business.
Learning about the best and brightest people. Growth leaders recognize that they are only as good as the people with whom they work. Often, the difference between success and failure is the ability to hire, train and retain the best and the brightest people.
Seeing the future. There are few organizations who take the time to regularly consider the future. What growth leaders learn is how to diligently monitor and interpret the macro forces of change affecting the world in which they live.
Boost your health with antioxidant astaxanthin and get the facts about astaxanthin side effects.