5 Solutions to Resolve Barriers to Growth

ADD THESE TWEAKS TO YOUR GAME PLAN

There are several key reasons companies don’t grow to the next level. Some may be surprising because you don’t think such poorly understood or ‘soft’ issues can have such a harmful disappointing radical effect on your bottom line.

As you read this list, consider whether your company’s future may be restrained because you didn’t know what you didn’t know about mastering these five strategies to break down the growth barriers in your business:

1. The 80/20 Phenomenon Could Change Your Future:

You don’t know which 20% of your customers drive 80% of your revenue and why they buy and keep coming back. Sneakers & Biz shoesSo you can’t 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 isn’t or who isn’t 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. Set Rules. Play by Them: 

It is true that sales people hate structure and love freedom… yet strangely, when managed within a structure and set of guidelines, most sales people flourish. renditionDownloadDo 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  a problem that person really cares about is essential to grow revenue and market share.

 

3. What You Do Isn’t 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 don’t buy architects. We buy someone who can design the home of our dreams and manage the project effectively. We aren’t 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. Don’t Sound Like an Expert: 

You may be able to show people in your own industry how deep ‘in the know’ you are with your jargon and fast descriptions. But to capture new business, confusing people is the last thing you want to do. Cogs Head  ExchangeYour 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. 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 “their end game” 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. That’s 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 604-306-7707 and book your 30 minute session.

PS:    The End Game is the Game to Play

Speaking of end games, you’ve heard that technology company founders are always looking for their exit strategy… they get in to business and get out of business making a tidy sum for their short term effort. That’s 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 anytime… so when the right buyer calls out of the blue, you’ve got luck and opportunity on your side.

Let’s talk about how to do that when you call to make your appointment.

604-306-7707.

 

 

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