ADD THESE TWEAKS TO YOUR GAME PLAN
There are several key reasons companies donât grow to the next level. Some may be surprising because you donât think such poorly understood or âsoftâ issues can have such aÂ
harmfulÂ disappointingÂ radical effectÂ on your bottom line.
As you read this list, consider whether your companyâs future may be restrained because you didnât know what you didnât know about mastering these five strategies to break down the growth barriers in your business:
1.Â The 80/20 Phenomenon Could Change Your Future:
You donât know which 20% of your customers drive 80% of your revenue and why they buy and keep coming back.Â So you canât cater to these people and win more business from others that have similar needs, likes and dislikes. Build and focus on the strengths you do have rather than attempting to shore up what isnât or who isnât working at the results level. Encourage the great to become terrific. Appreciate the effort the good go to become great. Notice and acknowledge the contributions of those working their way to learn how to be better.
2.Â Set Rules. Play by Them:Â
It is true that sales people hate structure and love freedomâŚ yet strangely, when managed within a structure and set of guidelines, most sales people flourish.Â Do you know how many contacts it takes before your qualified lead decides to become a customer? Tracking that number as well as mentoring sales people in how they engage the prospect to solve Â a problem that person really cares about is essential to grow revenue and market share.
3.Â What You Do Isnât Important:
Ok, so you are an accountant, or an architect or run a logistics and transportation service or make clothes. Stop identifying your business this way. We donât buy architects. We buy someone who can design the home of our dreams and manage the project effectively. We arenât looking for an accountant. We need someone to explain tax reduction solutions that suit the situation we are in. Think in terms of the problem you solve for a specific group of people. Talk about that problem.
4.Â Donât Sound Like an Expert:Â
You may be able to show people in your own industry how deep âin the knowâ you are with your jargon and fast descriptions. But to capture new business, confusing people is the last thing you want to do.Â Your team needs to be the people who can explain the steps, the pitfalls, the way forward in simple terms. To be an expert, be a tour guide not a rocket scientist.
5.Â Consider the End Before the Beginning:
If your job is to solve a problem for your prospect in a way that no one else does, so that they pick your company over others, then start with âtheir end gameâ in mind, not yours. Consider how to best help them get the result they need and add that value as you discuss how to move forward. You will get your end result by making sure your prospect gets theirs. Think strategically before you work tactically.
Which of these growth drivers do you need next in your business? Pick one. At. A. Time. Focus to get the implementation right. Learn from the experience. Then pick the next one. Thatâs how real growth happens profitably.
Want to talk about what to focus on this year? How to select the right strategy to move the needle on your business? We can get on the phone as soon as you call 604-306-7707Â and book your 30 minute session.
PS: Â Â The End Game is the Game to Play
Speaking of end games, youâve heard that technology company founders are always looking for their exit strategyâŚ they get in to business and get out of business making a tidy sum for their short term effort. Thatâs how to make real wealth. Thinking of YOUR OWN end game in mind, is your business supposed to fund your future?
When do you start thinking how to win this game? As soon as you start playing.
1. Are you playing the game of business to win the big payout for real wealth or
2. Giving yourself a job and a salary for a few years. That is not a wealth-building strategy.
You should know which game you want to play and make that decision today. Get in the right lane: your business could be made saleable and should be saleable at anytimeâŚ so when the right buyer calls out of the blue, youâve got luck and opportunity on your side.
Letâs talk about how to do that when you call to make your appointment.