Do you feel like your company’s success came out of nowhere, or was it specifically how you felt it would go?
Most companies have their first growth coming by accident, so it’s not bad if your success was unanticipated. Some businesses just bring their product into the market at the perfect time or have several circumstances fall perfectly into place. So, if the growth of your company has been frantic and chaotic, you have the option of changing to a system of growth by design. Growth by design allows you to assume control over the development of your business, as well as the ability to predict your business’ income using the company’s metrics.
Implementing growth by design is a fairly simple process, as you need to identify and understand some objective numbers for your business, and then put certain systems in place that will utilize these numbers in driving your company forward. With these systems, you will be able to base your company’s growth on your decisions and those objective numbers you have identified. To execute these systems for growth by design, then you need to take some steps:
- Have a clear vision of your business: You need to be clear on just how big you want your business to be and understand what needs to be put in place to achieve this. Recognize the opportunities that are available to your business, as well as how you can take advantage of them, while still performing your business at a high level. Also, have a good exit strategy for your business and specific goals towards which you organize your efforts. Areas like lead generation, marketing, and customer retention should be given priority and systemized efficiently.
- Learn and constantly gain new knowledge: If you are in a high-growth company, then you probably already have a vast wealth of knowledge about your market. However, you may not be totally aware of the internal numbers in your company. Numbers like your profit margins, cost of each business transaction, cost of maintaining the customer base are important pieces of information that can provide an advantage to the company. Why would you try to spend heavily on something that would not attract new customers, or retain the old ones? Why would you employ a more expensive marketing campaign when a cheaper one would be much more valuable? You need to identify and understand these numbers and make them work in giving your business an advantage. Cashflow and income streams could become significantly better when these numbers are recognized and implemented.
- Create an organized structure of operation: The more you systemize your operations, the more efficient they will become, and more value would be added to your company. Many companies today do not invest proper resources in documenting the company’s processes, and in testing their marketing campaigns. The more organized and dynamic your operation is, the easier it will be for you to drive and manage the growth of the business.
Do not let the current “growth by accident” of your business blind you from the numerous benefits you will enjoy from implementing the growth by design procedure. If you want good long-lasting success, then you should utilize the systems listed above. You will enjoy the business operations much more while making even more money.
