Four Steps to a More Successful Business

Posted by AndyM on September 29, 2009 under Business Growth | Read the First Comment

The simple question I help my clients tackle is “How do I grow my business?”  That’s a pretty big question though, you have to admit.  It’s a big question because making a REAL change can set you on a completely different path. Don’t fall into the trap of just working harder!

Any problem or challenge is SO much easier to deal with when you break it down into smaller pieces.  This approach works well at any level:

• got a goal you want to reach in 5 years? set some incremental targets for each year along the way
• need to develop a presentation for an hour long talk within the next week? step 1, create an outline; step 2, assign time estimates to each section; step 3, pick a single section and create a more detailed outline…

You get the idea.  Whether it’s as simple as deciding how you’re going to get your work done AND run the errands that have been hanging over your head or as complex as creating a financial plan for your future, you will benefit by breaking your challenge down into smaller steps first.

So back to the question — How do I grow my business?  What do you think our first step is?  You guessed it, we break it down into smaller pieces.  Remarkably, it comes down to just four steps:

1. Establish a Vision:  you wouldn’t leave your house or office to attend a meeting if you didn’t first know where it will be — your destination.  To have a vision for your business is to have a destination.  How can you set a course for your company if you don’t know where you’d like to take it?
2. Maximize the Current:  Marketing books tell you that step 1 is to set your strategy (identify a need, define your target, determine your product or service, etc.), but if you are already in business, this would NOT be step 1!  Maximize the profits from existing clients and new customers to get an immediate lift in your business.
3. Set the Strategy:  once you’ve increased the profit you get from existing relationships, learned more about your customers, and improved their level of satisfaction in the process, you’re in a better position to create an effective growth plan.
4. Generate and Convert:  with marketing systems in place that maximize the profits you generate from each new customer, it’s NOW time to improve how effective you and your team are at converting new prospects into customers and put multiple lead generation strategies to work.

So what do you do from here?  Well, take step 1 and break it down into smaller pieces of course!  Therefore, I will spend the next 4 weeks detailing each of the 4 steps.  Come back, check it out, and make small changes NOW that will lead to HUGE LEAPS in your business!