More Secrets To Achieving Business Growth
To successfully grow your business you need to ensure that your business processes work within an effective organizational structure.
Here are 5 ways to increase the effectiveness of your business processes.
1. Develop a vision
Understanding the real nature of your business and establishing its overall vision can help you build better processes which will in turn grow your business. Once you have a mission statement, everything you do and say must support that mission. It can help guide you in developing a business plan, and in setting goals. It will also build understanding and trust in your customers’ minds and give your team members clearer direction.
Having a clear vision or mission for the business provides the destination point, the place you are aiming for in your business career. After all, if you have no idea what you are trying to achieve, how will you ever measure success?
Developing a vision for your business and a strategic plan to get you there are the critical elements of any business plan. If you don’t have this in place today, make it happen by tomorrow – it is that important!
2. SWOT your business
A SWOT analysis allows businesses to understand how they can leverage their strengths, remove weaknesses, make the most of opportunities and avoid threats in moving their business forward. It provides an assessment of your current business environment.
When you do this analysis you end up with information on your industry, on your customers, on your competition, and on all your business operations; and when you know these things, then of course you are in a much better position to improve your problem areas, and ensure that you use your strengths and opportunities to full advantage to win more customers, keep them coming back and spending more each time.
3. Work ON not IN your business
By working ON your business instead of IN it, you’ll be able to step back from the day-to-day activities and look objectively and strategically at your business as a whole – and what needs to be done to grow your business.
One of the most profitable things you can do as a business owner is to sort out the things you can do to free up more of your time to work ON it rather than IN it.
4. Systemize your processes
One of the first things you can do to free up more of your time and make your business run more smoothly is to systemize every process that needs to be completed to serve customers and generate profit. I’m talking about mapping out and documenting every single step of every single task – from answering the phone to closing up at night.
Edward W. Demming (redesigner of the Japanese car industry) completed a study that showed that only 4% of business mistakes were due to direct human error. The other 96% were due to a lack of consistent systemization.
Systems clearly spell out what it takes to run your business. Documenting those systems can help to train team members, delegate responsibility and create consistency. This all works to your advantage because you will have more free time to do the things you want to do, and it makes your business more valuable because it doesn’t have to depend entirely on you to operate.
5. Build a team
Building an effective team is critical to improving business processes and creating a positive work environment.
Systemizing processes within your business can allow you to delegate more to team members, making them feel valued and giving you more free time to work ON your business rather than IN it. And without a doubt, an effective team will allow you to grow your business faster than trying to do it all yourself.
Building a business based on functions rather than people can help you too. Instead of building jobs around specific people, focus on the functions first and the right kind of people needed to perform the role. You will often discover that your current staff may not be the best ones for the job. What you do with this information is key to achieving business success.
So if you want to grow your business, apply each of these 5 elements to your business planning strategy and you will be well on your way to achieving the success you want.
If you are serious about wanting to grow your business, check out my business coaching module – My 5 Step System To Achieve Massive Business Growth