When it comes to business growth, confusion rules the day. The steps to create consistent revenue growth are elusive to most small business owners. But business growth strategies can be simple when you understand how to grow a small business.
By focusing on five key areas, you can create a complete business growth strategy.
The key is to create “flow” and build “bridges” between marketing, sales, client relationship management, the internet, and brand presence.
At a minimum, just 10% annual revenue increases in each of these five areas lead to 50% yearly overall revenue growth for your business.
Now, imagine having 20%, 50%, 100%, or more in each of these five areas. You could see 100%, 250%, even 500% annualized revenue growth every year.
The problem could be in your thinking about how to grow a small business.
You build your business growth strategies by creating flow between marketing, sales, client relationship management, the internet, and brand presence.
As we said, we’re looking for a minimum of just 10% growth in each of these five areas to see 50% overall annual revenue growth for your business.
Each year, you can continue to build, grow, and ignite these give areas to grow 50% per year consistently.
Think about this for a minute. Most business owners are happy with just 10% overall. 50% would be unheard of for many small business owners.
The fact is, 50% is not hard to attain at all once you understand and pay attention to the key impact growth points.
You don’t necessarily need more money. However, you MUST have a strategic plan – and the latest (and costly) marketing tactic is not that plan.
Tactics are tools. Strategy drives how you use tactics effectively. Without developing a “Strategy First” approach, any marketing you do will fall flat and give disappointing results – again.
The 10% Small Business Growth Challenge
While many business owners are satisfied with 10% growth every year, we find that 10% is a fraction of the potential available to any business owner today.
Marketing, sales, CRM, the internet, and brand presence are elements of one strategy that combine to grow small businesses.
However, most business owners see them as separate elements.
That creates a gap between each of these critical business growth areas. Gaps lead to inefficiency and additional expense.
The key is to build bridges over these essential business growth gaps.
Closing the Business Growth Gap
When you bring all five business growth elements areas together into one concise plan, your business grows efficiently year after year.
As we’ve said (more than once because it’s THAT important), it’s essential to start with a Strategy First approach when you develop your marketing and business growth plan.
How does marketing, sales, client relationship management, your website/the internet, along with your brand presence all come together to grow your business?
To answer that question, consider the vital points of business growth.
The vital points to consider when developing a small business growth plan are:
- How clients describe your business and the value they gain
- Client types that are best served by your business
- How you stand out from your competition (called ‘differentiation’)
- What is your vision (the reason you started and continue to work in your business)
- What is your mission in business (the difference you make in the lives of your ideal client)
- The clarity and effectiveness of your core marketing message
- Number of steps required for your client to find you
- Your process for closing sales (move through the interest to purchase stages)
- How you keep clients engaged throughout the process of working with you.
- Your referral plan when a project is complete
- The value added to prospects and clients with your website
- These are all points of a marketing and business growth strategy. We use these points as the beginning of a Strategy First plan.
- Once you develop a strategy, you can move into 3-phases of building your business.
- We call these three phases Build, Grow, and Ignite your business to greater profitability.
Winging it and seeing what happens is not a strategy that increases revenue.
As disappointing as it is to realize, winging it, see what happens, and hope for the best is not going to grow a small business.
It takes a well-thought-out marketing and business growth strategy, followed by consistent execution of the plan to see small business growth rates of 50% to 100% a year, every year.
Where are you today with your business growth plan?
Let us help you see the big picture. Request your complimentary Marketing Check-Up.
Together, we’ll meet one-to-one and evaluate where your marketing and business growth plan stands today.
You’ll see where the gaps are so you can build a personal roadmap to greater profitability.