There are three ways to grow a business
1) Increase volume
2) Increase top line revenue
3) Decrease expenses
At a more granular level, some ideas to consider before taking the next step of growth:
1) Define rules and processes before adding people. Develop efficiency by simplifying processes. Automate processes that can be automated and outsource those that should be outsourced.
2) Evaluate your current client or customer list and determine who in your client list generates the most revenue and profit. This is your ideal client.
3) Identify your niche and define your avatar. It is easier to market your product or service to a smaller potential customer base and charge them premium pricing. Network with those in that group, read what they read, listen to what they are listening to and advertise in those mediums.
4) Be able to give the benefit of what you do (service) or the product you sell in one sentence
5) Become a lifetime learner - read books, take courses listen to podcasts, join masterminds, network, exercise, improve your spirit, strengthen family relationships
6) Don’t do business with negative or unreasonable people. Those who spend the most usually complain the least and those who spend the least usually ask for the most. “People either inspire you or they drain you – pick them wisely.” - Hans F. Hansen
7) Work on culture – identify the culture you desire and develop a plan to create it
8) Become effective in identifying and interpreting key performance indicators (KPIs)/objectives and key results (OKRs)
9) Focus on great for a few things and good enough for the rest – perfection is an impossible destination
