5 Focus Areas for Business Growth
After a fascinating discussion at the Harrison Networking evening last night, I thought I would share more widely the 5 focus areas for business growth that stimulated so many thoughts.
Whether you are a sole trader, small, medium or large enterprise, the same focus areas apply. Throughout my work with different organisations, I have found that usually the challenges they face in growing the business fall into at least one of these 5 areas. The key is to look at where you would like to be in this area, be realistic about where you are now and work out how to bridge the gap.
1. Your Ambition
Working out what your true ambition and purpose is for the business is really important. Once you know it, you can come back to it again and again. It helps to inform all your decisions and inspire your team.
2. Your Image
What makes you stand out from the crowd? What is it that your customers are buying from you? How do you put this message across clearly, consistently and to the right people?
3. Your People
‘Getting the right people on the bus and the wrong people off the bus’is a concept put forward by Jim Collins in ‘From Good to Great’. To develop this further, making sure that everyone knows and plays a key part in the direction and propulsion of the bus is also key, and when you get it right can transform the growth capacity of your business.
4. Your Systems
There comes a point when your systems and processes hold you back or drive you forward. Investing the time in getting these right is neither simple nor cheap, but it makes a massive difference in the longer term.
5. The Trenches
Getting the daily work done but also ensuring that you raise your head and ensure it is propelling you in the right direction. Having a clear strategy (from no. 1) and creating a strategic action plan and daily/weekly/monthly operational plan is so helpful. Then everyone knows that they are doing the right thing to help drive the business forward.
Sometimes seeing these clearly for your own business can be tricky, especially when you have multiple directors and are so busy you can barely keep up. This is where a good business mentor or coach can help with support to step back and refocus. Make sure that whoever you choose has not only a fresh pair of eyes, but business expertise, coaching & mentoring skills and simple but effective business tools.
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