Eights steps to grow your business
Want to grow your business? Focus your efforts on the key areas that most impact your business.
1. Learn how to work on your business, not in your business – Learn how to be an entrepreneur, not an employee. You cannot effectively do both. You need to be working ON your business to make it grow.
2. Delegate authority – and not just responsibility. Train your people and give them the tools they need, then allow them to do the work. Allow people to make mistakes. Make them good learning experiences and shift more authority to them as they learn.
3. Know your numbers – Seriously. The better you know your KPIs (key process indicators), the better you’ll understand where the business is going, where you need focus, and what you’re doing that is and isn’t working.
4. Create a vision statement – Peter Drucker famously once said - “Culture eats strategy for breakfast.” Your vision statement should define your values and will set your business culture and focus. You must have a well-defined shared vision that creates a positive culture that is positioned for growth.
5. Create systems and processes and write them down – in detailed step by step instructions. Then train your people to follow them. When it’s not documented, people will forget & stray from the process. This will help minimize mistakes and improve consistency.
6. Reverse engineer your goals – where do you want to be at the end of the year? Identify steps to get there throughout the year (i.e., 3-month, 6-month, 9-month goals…)
7. Do 6 things 1000 times not 1000 things 6 times – FOCUS on a handful of things that are key to your business and keep on them repeatedly. Be persistent and get good at these and make sure they are done right. Don’t get distracted by non-essential diversions.
8. Surround yourself with great people – Ignorance on fire is better than knowledge on ice. Look for excited people willing to learn and passionate about your business, culture, and goals.
While there are no guarantees, getting these things done will better position your business for success.