How to create a high growth business
Hi everyone, welcome back to another episode of What’s Your GamePlan. Today, I’m going to talk to you about creating a high growth business.... what does that mean?....If your business isn't growing as fast as you'd like and you need a repeatable, scalable process... stay tuned! This episode will teach you how to take your business to the NEXT LEVEL level.
So, at it's core, growth has a LOT to do with change. You'll need to make changes and become comfortable with the changes in order for your business to grow. This might take research, spending money, learning to communicate better and more often....and maybe even learning how to become more patient.
Are you ready to grow? If so, let's go! These are the main strategies companies are using to grow.
Solution # 1 - Hire help
Often times, your business ISN"T growing because you need to hire help. Everyday that goes by, certain activities need to happen in order for the business to grow. Calls need to be made, emails need to be sent, proposals need to be issued, contracts need to be written, you get the picture.
The more people you hire, the faster your business will start growing and that's a FACT. Can you imagine if you had 3 sales people, and you increased your team to 20? How many more calls could take place or how many more sales could you generate by just adding more people to help you out? Don't be afraid to define your business requirements and hire what you need.
Solution #2 - Do Research
Doing your research can be super helpful when you're trying to make business decisions. Especially decisions about entering into new markets, selling new products or services, adjusting your prices, or communicating with your customers. Lots of businesses don't grow because the owners or leadership team don't do their research. If YOU don't want to do the research, you can pay a business consultant that'll do that for you. It's better to HAVE than to NOT have when trying to grow a business.
Solution #3 - Show Appreciation
Believe it or not, your growth is directly tied to the type of environment you provide for your employees and your customers. Do they feel comfortable when they enter your business, or do they complain? Do you show them you care? Are you glad they are here? Do you recognize their hard work? Do you actually tell them you appreciate them? The more time you invest in these kind of caring activities, the more loyalty you'll create and the bigger your company will grow.
Solution #5 - Advertise
One of the BIGGEST opportunities for growth is simply to advertise your business. If people don't know about you, how will they buy from you? Advertising will help you reach the right people, find new customers to do business with and convert potential customers into paying customers.
Solution #6 - Form Partnerships
Lots of companies under estimate the power of partnerships. So, whether you have a small company or a big one, you can benefit from a partnership alliance. Doing this will get you a lot more exposure....you'l be able to enter new markets more easily, share resources and split costs. If you don't know how to form a partnership, hire a partnership manager. They will start telling other companies about what you do and see how you can work together to create better experiences for both of your customers.
Solution #7 - Communicate with Customers
If you're not seeing growth at your company, you COULD have a communication issue. How often do you communicate with your customers? Are you building relationships with them or is it Hi and Bye! If want to see growth in your business, start talking to people. Develop a communication plan that outlines what you will say, what you will ask for, what you will promote, what you will share, and why all this matters. Remember, communication isn't just one sided, you want to get feedback and ask your customers to questions too! So they engage with you and truly get to know you better.
Solution #8 - Invest in Employee Training
One of the number one reasons companies don't grow is because their employees lack training. This could be customer service training, product knowledge training, diversity training, compliance training, the list goes on. Training is one of my favorite topics. It's a proven fact that TRAINING keeps people in their jobs longer, reduces the cost of recruitment, and improves the employee experience. Competition is THICK and keeping every dollar in your pocket matters. Put the money where it makes the most impact. Don't be afraid to invest in employee training, because it's one of the ONLY things that will actually PAY you back in the long run.
Solution #9 - Give Back
Have you ever heard the old saying, you have to give to receive? Giving to receive is a HUMAN strategy. You don't have to wait to be asked for something..... in order to start giving. People tend to buy from and even refer business to companies that they trust and believe will take good care of their friends and family. By giving, you are letting the world know you care and don't have a problem sharing your blessings with others. This could be as as simple as hosting a customer or employee appreciation event, making donations or giving back to the community. Doing this is crucial to growth and success.
Solution #10 - Take Massive Action
The last tip I'll leave you with is take massive action everyday. Be an action taker and HIRE action takers. When you build consistency in the business, that's when you'll have breakthroughs and accomplish greatness. Don't be afraid to be chase results. For every conversation or engagement that I get into, I like to ask myself, what do I want out of this? Do I want a deal? Am I after a new partnership? How many partners do I want? When do I want them? Am I interested in generating sales or brand awareness? Whats my end goal with all of this? Do these constant self-checkins. They really help a lot. In the grand scheme of things, it all comes down to you making decisions and taking action. Remember to push a little bit harder each day and Don't give up!!!!
I hope this video offered great tips on how to create a high growth business. I guarantee if you apply all of these strategies, you'll be able to measure your growth in no-time. I'm giving away my marketing strategy book series for free, if you want it, just go to my website, enter in your email address and I'll send it to you right away. If I can help you in any way, or you just really liked this video, please let me know in the comments section below and of course, if you know someone who needs to see this today, tag a friend, hit like and please give it a share...and until next time guys, take care!
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About Adella Pasos
This Entrepreneur and Marketing Expert has shared her passion for growing brands from the ground up. She’s worked with Startups, Small Businesses, Fortune 500 Corporations and Entertainment Talent to help them recognize the value of marketing, and give her clients the ability to access their niche market via online, social media, mobile, merchandising, and events.
She hosts the What's Your Game Plan TV show features: Free Expert Advice, and Growth strategies for Business Owners Across the Globe. Access thousands of FREE Tips, Trends & Tools to Move Your Business Forward!