Growing your business is hard work. But like anything else in life, you have to put in the time to reap the benefits. Don’t focus on the short-term outcome of your work. Go big. Look to the long term. Build sincere value and try to help your customers. Genuinely care. That should be the foundation blocks. After that, it’s a matter of taking action and putting in the work.
If you’re ready to grow your business, here are eight tips to help you on your journey.
Be yourself
Create your unique selling point and model. It can be tempting to emulate successful competitors, but if you’re trying to grow your company and it’s not true to your values, it won’t work.
Know your purpose
Start with your why. It is the core belief of your business. If you understand your purpose, then you will attract people that share your values.
Invest in financial information
It can be tempting to run your business by instinct and believe you’re managing cash flow by knowing what is in your bank account. Instead, you need to be forward-looking by understanding what will happen and not just what has happened. It’s helpful for someone else to control this, as they can hold you accountable.
Learn to say no
No is very powerful. Understand who your perfect clients are and say no to those who are not. It can be tempting to say yes to any opportunity, but it’s important not to become distracted from your core focus.
Get the right agreements in place
It’s difficult to anticipate problems that may arise, such as disputes between founders or shareholders. Yet when they do, they can be expensive and time-consuming to rectify. Avoiding this means having watertight agreements in place right from the start to limit your risk and future exposure.
Trust your instinct
Don’t ignore problems. If something doesn’t feel right, it probably isn’t.
Invest in a mentor
The right mentor will understand your industry, challenges and the obstacles of running a business. They will be able to guide you through your business journey with support and guidance. They’ll also bring objectivity to the table, and this can be invaluable.
Work on your business, not in it
You need to take a step away and work on your business if you want it to grow. Finding this balance is crucial if you wish to scale your business beyond just you.
Key takeaways
- Know yourself and your purpose, and you will attract like-minded people.
- Understand who your ideal clients are, trust your gut and learn to say no.
- Find a mentor to help push you and your business forward.