15 Keys to grow a business

15 Keys to grow a business

It is one thing to start a business and another to make it profitable and transcend, a true entrepreneur is always looking for a way to grow his business day by day.

No matter how small your business is, remember that several of the big companies that we know today started in the garage of a house , It is just a matter of having a great passion for your business and working hard every day and you will see that little by little you business will grow to become the great company you have always dreamed of .

If you have a business and you want it to grow, both in infrastructure and in sales and income, below I share a series of points that you must take into account so that the growth of your business is constant and sustainable .

These keys are taken from the success stories of large entrepreneurs and companies, take note and apply them, you will see that in a few years your company will be as big as you want.

1. Motivation

Just like when starting a business, for your business to grow you must be very clear about the reasons why you want it to grow, but be careful, you should look for stronger motivations than money (I recommend reading: What motivates you to start your own business? ), remember that undertaking something just for money will make you give up at the first obstacle.

2. Clear mission, defined objectives and a great vision

Know where we are? and where do we want to go? , are the bases to define the steps that we must take.

Imagine you are going on a trip, what is the proper means of transport to go? Plane, boat, taxi, etc.?, The answer to this question can only be given knowing the place of departure and the place where you want to go, it also happens in the business world.

It is not a difficult task, for the mission just take a sheet and try to summarize the raison d’être of your business by answering questions such as what do you sell ?, to whom do you sell ?, how do you sell ?, etc. Then make a paragraph of between 5 and 10 lines and put it in a box that you can put on the wall.

To define the vision, answer the question : How do I see my business in 5 years? be ambitious and think big, then based on that projection establish a series of intermediate points that will be “the steps” to reach this vision, these points will be the objectives of your business. Make two other pictures and put them on the wall. Remember from time to time to review the mission, objectives and vision of your business.

3. Keep focus

By defining a mission and a vision you will have given a focus to your business, you must maintain that focus.

A big mistake made by many entrepreneurs is to be guided by the need to increase their income quickly and they believe that by diversifying in the type of products they offer they will achieve it, this is how we end up seeing bakeries that also sell clothes and all kinds of items waiting earn some extra money. Conversely, a bakery that maintains its focus will be able to stand out and gain preference because it can innovate on its product line.

4. Be willing to change and innovate

As your business begins to grow you will see that you must make all kinds of changes to adapt.

More clients means more employees and more infrastructure, you must be aware of this and not be afraid to make the changes that your business requires, remember that to obtain different results you must do different things, you cannot expect your business to be bigger while keeping things as they are. and as they are now.

5. Listen to your customers

Customers are the base of your business, if you don’t listen to them, your competition will and you will be giving them the possibility of keeping your market.

Facebook has been one of the fastest growing companies in all history, its success is indisputable, but it seems that it is making the serious mistake of not listening to its customers. Facebook users have witnessed countless changes that have generated mobilizations within the social network, for example, the chat sidebar, changes to the home page, new photo viewer, etc. However, despite complaints from millions of users, Facebook has ignored the criticism and the changes persist. At the moment Facebook is still the leading social network, but it has opened up the possibility for companies like Google to attack their weaknesses.

Listening to your clients is not only asking them what they want, not always the client knows what he wants, Henry Ford said: “If I had asked people what they wanted, they would have told me a faster horse.” 

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6. Work with the best

Andy Freire says: “An entrepreneur A seeks entrepreneurs A + , an entrepreneur B seeks entrepreneurs C “, in other words, successful entrepreneurs always look for the best to work with them, companies like Microsoft and Google hire the best engineers and programmers, therefore they are companies that stand out as the best.

7. Define the growth strategy

You already know where you are and where you want to go, now you can define the best strategy to get there.

There are multiple business growth strategies, choosing the right one will depend on factors such as the type of product you offer and the type of market you compete in.

In the following link you can find the main strategies so that you know a little about them and define the right one for your business.

8. Systematization

To systematize a business is to make it work regardless of whether or not you are physically in it, it is a complex process but once you achieve it your business will be ready to grow.

Does the owner of Mc Donalds personally review each establishment day by day? The answer is NO, the key to the success of a multinational is precisely the systematization, Mc Donalds has systematized all its processes, from the hiring and training of employees to the way in which each of their products is made, this is how they make their hamburgers have the same flavor in any of their establishments.

9. Re-investment

For your business to grow you must invest in it, you must be aware that you will have to sacrifice your profits in the short term if you want to increase them in the long term.

A first step is to organize the finances of your company planning the destination of profits, Robert Kiyosaki proposes an activity called “the 3 piggy banks”, which consists of creating 3 funds, one intended for savings (such as a safety mattress), another for donations and another to re-invest in your business, the proportion in which you must divide the profits is up to you, for example, you could allocate 45% of the profits to the savings fund, 10% for Donations and another 45% for re-investment, the idea is that you are disciplined and keep the margin.

10. Increase the value of your product or service

Contextualizing a little, Price is what customers pay for your product and value is what the customer receives, as your business is growing you are going to face tougher and tougher competition, the only way to stay in the fight is by offering more value to your customers, remind them that you are working to improve every day. Give your customers reasons to prefer you.

11. Position your brand

Positioning your own brand is essential, including positioning your logo, your slogan and everything that has to do with the identity of your business, if your customers do not remember you they will not have a preference for your products. For that, you can rely on organic traffic from Google that you can get by hiring the low cost seo services for small business.

12. Implement a Quality Management System

Every day the countries are more demanding in terms of quality, this forces companies that want to sell their products abroad to obtain quality certifications in ISO and other quality standards.

But regardless of whether or not you want to export, implementing a quality management system can go a long way towards systematizing your business, as well as generating more confidence in your customers. 

13. Have a presence on the Internet

Currently the Internet offers countless free tools that allow a company to easily promote its products.

On the Internet you can find new clients for your business, so don’t wait and create a Fan Page on Facebook, a profile on Twitter, a blog, etc. and start growing your business. 

14. Perseverance and patience

Your strategy may fail the first time, but you must be persistent and try again and again.

Do not give up at the first obstacle and always remember: “If the road becomes harder, it is because you are on the rise.”

15. Beginner mindset

I want to end this article with a thought from Steve Jobs , he relates that at some point in his life he had to start from scratch, he had the possibility of being a beginner again. No matter where you are or how far you have progressed, keep the same passion, dedication and energy as when you started.

That is all, these keys mentioned here are not implemented overnight, but in the business world there are no intermediate points, or your company grows or disappears … the decision is yours! .

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