Have A Business Growth Question?
This is the page where I post answers to the top business growth questions owners have asked me over the years.
I'll do my best to answer your question, however, this does not mean that I will post every question and answer on this page.
I will only post those that I believe may really help a business owner.
And who knows, I may turn the answer into a full post - so stay tuned!
Top Frequently Asked Business Growth Questions
My belief is that a strategic business plan should engage the four functional areas of a business:
- Sales
- Operations
- Finance
- Management.
The two most important for strategic planning is...
- Address the marketability of the company, by improving branding, marketing, and sales efforts.
- Address operations for improving productivity and efficiency.
I view a business plan like a ‘battle plan.’
The marketplace is a competitive arena, and to win in the arena, you must fight smart with a plan.
If you have competition, you will also have to address cost and its impact on price. I do not like to be a ‘cost-cutter’, however, by increasing productivity and efficiencies, the same effect can be had while increasing market share.
They do not spend the time to develop themselves. They often get so involved in the business, that personal growth needs become last on a long list of to-dos.
Leaders must grow to lead, and when they don’t, their companies don’t grow either.
In the ‘Law of the Lid’ by John Maxwell, if you are not growing, neither are those around you. This includes your company. If you are a business leader, seek leadership coaching and create a ‘growth-plan.’
They plan to get big, with the most important planning centered on developing a focused marketing and sales department. Many businesses have the philosophy of “build it and they come.” This only works for so long.
Even if you have the better mouse trap, someone will build a better one soon.
To grow, sales development must be planned and made to happen.
To get big, business owners must get personally involved in a marketing and sales process.
To dramatically increase profits, increase both your sales and operational efficiency. While many people will point out the need to cut fixed expenses, (overhead cost), these at best make a minimal impact on P&L performance. And often, this impact cannot last.
However, by increasing operational efficiencies, direct cost, especially labor cost, will be controlled. When these direct costs are better managed, these resources (materials, labor, etc.) become more productive.
With increasing operational productivity, each new sales dollar makes a bigger impact on the bottom line. Having strategies, that when executed, drive sales and control direct cost, is the sure fire way to dramatically increase the bottom line.
I Just Need The Basics
Let me know your first name, email and your question and I'll do my best to answer you. Please keep it business-growth related. If you are looking request a consultation, you're in the wrong form.
