Have you done a good job and your company is starting to show some momentum? Good news! It is always gratifying to see our efforts rewarded. But do you know that this start to growth is a key moment for your company’s development?
In fact, when your business finally reaches some stability, it’s time to invest in the future. Because there’s a difference between “experiencing growth” and “achieving growth”.Here are 5 tools to help you turn the corner and ensure your company’s sustainability!
5 tools to help you grow your business successfully
- BHAG – Looking ahead while maintaining your DNA:Starting long-term planning in the midst of growth seems counterproductive? Think again! Indeed, during a boom, many entrepreneurs feel they need to focus on operations. And the opposite is true! We must avoid focusing solely on the short term and continue to consider your long-term development. In fact, the ideal is to aim very far ahead and then stay on course in your day-to-day actions.To achieve this, we suggest you conceptualize it via the “Big Hairy Audacious Goal” (BHAG). It is a planning tool that invites you to set a grandiose goal. From the outside, your target may even seem unreachable! But if you challenge yourself to reach your BHAG in 10 or 15 years, nothing is impossible. And that’s exactly the whole point of this tool that is explained in detail in this article (insert http: / / wizeba.com / strategy / learn-a-define-finition-objectives-de-business-vise-loin). By planning, you will be more focused and will then be able to focus on short-term objectives. And all the while, time will do its work and your growth will become more sustainable.However, be careful when choosing your BHAG. Some entrepreneurs are completely losing sight of their DNA and paying the price. Consider, for example, a restaurant that would abandon the recipe that has been successful.! So think carefully and make sure you keep the elements that have led your company to growth. Don’t lose sight of what makes you unique!
- Business Canevas – Maintain sales by focusing on the ideal customer base:When your business reaches a certain stage of growth, it is in your best interest to conduct an inventory of your products and customers. Why? This is often a phase where profit and pleasure collide. Yes, you had to make some sacrifices when you were looking for growth. But now you can make choices. You may have a few difficult clients or clients who do not share your values? Are there any products or services that take you away from your profitability?In short, this is the time to adjust your business to what YOU want. Start by redoing a Business Canevas that fits your current reality. Clarify your offer. Identify which products or services you want to prioritize and which customers you want to attract. Focus on what grows you as an entrepreneur and as an individual. Then you just need to align your marketing strategy to attract the right customers.
- Technology – Increase your levers:To ensure that your business grows sustainably, you also need to have some levers. A lever is defined as “the lifting, moving, overcoming a few resistances.” In your context, it’s all about improving your processes. Anything that enables you to perfect key business functions is a lever.For example, CRM (Customer Relationship Management) is a tool that greatly facilitates the day-to-day operations of a business. Customer and prospect files are instantly easier to manage, the risk of errors is reduced, satisfaction is increased, and so on. (If you are interested, please feel free to consult our article on choosing the MRC (insert http: / / wizeba.com / tools-technology / 7-erreurs-a-eviter-in-choix-dun-crm). A lever can also be a simple email template or communication tool for the team! In short, anything that eliminates lost time will be good for the growth of your business.
- Innovation – Taking the time to experiment: At a time when the business is doing well, the manager needs to learn to take a step back from operations. Indeed, we must avoid stagnating and focus instead on innovation. To ensure its sustainability, a company must be in a continuous improvement mode. Otherwise, there is a good chance that its offer will become obsolete over the years. And then his competitors will eat him alive!That’s why it’s so important to set aside time to innovate, to keep abreast of the market and what’s new. Don’t hesitate to invest in research and development, and to survey your customers and employees. Assess their satisfaction and be open to their requests. Try to understand what they’re looking for and do what you can to meet their expectations. Organize meetings that focus on ideas and innovations and then offer training. In short, stay tuned to reality and change!
- Recruiting – Creating the Team You Need Of course, business growth often requires expanding the team. However, your recruitment must become a tool for your development. Start by developing a strategy based on your goals. Think about your BHAG and your targets for the coming months or years. What does this mean in terms of resources and employees?Second, you must avoid recruiting just to recruit! Instead, hire the right people. Those who share your values and will support your growth. Those who want to grow and evolve with you. Productive people, with whom you don’t have to impose discipline. You will see the difference and you will have to invest much less energy in managing your resources!
Multiply the tools and take your business to the top!
As you can see, the sustainable growth of your business requires a transformation of your management. Strategic planning, investing and following your values are actions to take as soon as possible! And if you have difficulty stepping back from operations, please feel free to call on our experts (insert http://wizeba.com/contact). Our business analysts will help you turn the corner and improve your company’s performance.
Good luck!