The 5 Building Blocks of Running a Growing Business
The easiest way to learn more about a company’s goals?
Ask them. The answer normally given, however?
Every business’s main goal is to sell more to more people. Make more product, sell more product and bring in more cash.
Well, life isn’t that simple and running your own business certainly isn’t either. One of the key aspects of a growing business is the niche in which they operate. It’s tempting to cast a wide net in the hopes of catching as many customers as possible, but often that results in a watered down service that doesn’t make much of an impact with anybody.
Narrow your audience based on your unique talents. It’s better to have a big impact with a small group of people than striking out with a large group of people.
With that in mind, here are 5 other key building blocks of a growing business.
1. Be Energetic
Even when you’re not. Running a business requires long hours and a firm grip on your sanity. It’s your business, so if you don’t do it, who else will? But that doesn’t mean your customers will feel sorry for you when you get overwhelmed. People aren’t selfish or dumb, but they are busy. People research everything before they buy.
Don’t slack off. Go the extra mile and you’ll be rewarded in the long run.
2. Get (& Stay) Organized
Running a business is a lot easier when you don’t have to remember anything. Your brain isn’t a sufficient tool to keep track of things like:
- meetings & important dates
How do you remember everything? If you haven’t embraced technology yet, it’s time. There are plenty of free and easy-to-use programs online like Asana (calendars) and Evernote (notes) that will help you stay organized.
3. Find the Right People
And after you find someone who’s reliable, good at their job and owns up to their rare mistakes? Keep them happy. Pay them what they’re worth. Keep them around as long as they’re fulfilled and they bring value into the company. Just because you’re in charge of the overall operation of your business doesn’t mean you need to do everything. Plus, taking on too much will inevitably lead to a decline in quality.
You don’t want that, and neither do your customers.
4. Chart a Course
What do you want your company to look like in 6 months? In a year? In 3 years? Planning your course in advance will not only help you stay organized, but it will give you something to shoot for – a carrot dangling to help you through the tough times.
Chart points on your course such as the amount of income you want to make in a month and how many people you want to be working for you.
5. Follow Through
You know when people ask you how work is and you roll your eyes and tell them how busy you are?
This is the best response you could ever hope to give. For a little while, anyways.
Explaining how busy you are is the theoretical representation of following through. If you’re busy then that means you’ve stayed energetic despite the ups and downs, you’re organized and you’ve got the right people working for you. You might not have a course that’s completely clear, but no matter what, you’re going to see this thing through.
Good for you. Our economy needs more people like you. Keep at it!
Could your business use an injection of cash? We can help! Contact us ->