Top 5 tips for growing a business

posted on 12/12/2012 10:23:21 by Chris Cole

You can ensure that your business keeps growing if you focus on these five strategic objectives.

It all adds up: Focus on our five top tips and ensure your business keeps growing
  1. Have a clear goal and vision - and communicate it tirelessly. If you don't know where you're going then how will you get there?!
     
  2. Know the USPs of your product or service, why you are better than your competitors, and how to tell people. 
     
  3. Be tenacious. Over-night successes tend only to happen after years of actual work. Don't give up but learn from the successes and failures to keep going forward and pick a growth market when possible - it makes life a lot easier!
     
  4. Put the customers at the centre of your business. The customers pay the bills so you should understand what they want and value. Always talk and listen to customers; know who they are, why they would buy your product, and what they are willing to pay for it. 
     
  5. Employ great people and empower them with autonomy and accountability. Make no compromise on the people you hire; keep kissing frogs till you get the person you want for the role, and when you make a mistake act quickly and with integrity.

BONUS TIP: Remember the adage: turnover is vanity, cash-flow is sanity, profit is reality. Know your P&L inside out, and keep in mind that a sale hasn't happened until you get paid for it. Cash is the blood of a business.

Image credit: www.learningDSLRVideo.com