So your pet, child or garden has stopped growing. What do you do?
1) Make an action list of things you could do to help them continue to grow.
2) Do nothing
3) Consult a pediatrician, veterinarian or expert gardener?
4) Hope they figure out how to thrive without you making a change.
5) Blame the environment or the ingredients in the products you have been using?
The numeric list makes the choices seem obvious. You’d go with 1 & 3 and, yet, many business owners often choose 2, 4 or 5 hoping for a miracle or not taking responsibility.
In a public corporation, growth reflects and depends on the knowledge, skills and abilities of others. But growth in your business is 100% under your control. It reflects, to a large degree, the decisions you make and actions you take to generate growth.
Working with a variety of business owners has taught us that growth is a fairly predictable outcome assuming you utilize keys that foster it. If, however, you choose to ignore these keys stagnation and decline are likely results.
Keys to success can be found in the levels of ‘your’ energy and leadership, your cultivated opportunity pipeline, the average client value, frequency of purchases or usage of services, business efficiency structure and effectiveness, profit margin, and overall demand value.
In 2016, you will see an explosion in freelance markets, the rise of remote work, being green, more businesses will be available for sale as baby boomers retire, customers will have higher expectations, there will be increased measures in cybersecurity along with more cloud-based services, an increase in online collaboration, focus and emphasis on mobile-friendly websites – SEO – web analytics, influences of the Millennial generation, EMV chips and mobile payments, Omni-commerce, social responsibility of corporations, companies will outsource more services and a spike in the focus of customer retention.
Growth in 2016 begins with YOU! Your business is alive only with the energy you feed it. Growth reflects what you are feeding yourself and your business. Focus on making your business not only appealing to your clients but easy to understand and accessible.
Knowing that failure to build your business may be the best indicator that you are failing to thrive personally. One of the things I try to impress upon entrepreneurs when teaching skills is that you cannot help others as much if you are yourself needing help. It might work for a little while but eventually, if you do not strengthen yourself you will falter. It is like our country trying to fix other nations when children in our own backyard are starving. We would be better able to help other nations if we first heal ours. You have to have a strong foundation personally before building the foundation of your business.
So build from a position of renewed strength and positive energy, hire freelancers with the skill sets needed to bring more value to your clients, be open to change, anticipate trends, engage customer retention techniques, surround yourself with like-minded individuals and embrace the evolution of business!