How to grow your business

One of the most frequent questions I get asked is ‘how do I grow my business’?

While businesses each have their own founder/owner strengths and opportunities, there are foundational steps to growing any business.

And, when I’m working with my clients, we look at where they are now and where they want to be. We look at what has worked in the past, what hasn’t and how we can use what’s working to fuel greater growth.

We reverse-engineer from where they want to be to hone in on the specific steps they need to take to get there.

What I’m sharing below is a guide so you can self-identify where you are and what next steps could benefit you in your business.

If you want to be more specific and look at this for your business, then let’s meet.

In the meantime, the power in using these steps, is to consider ‘How does this apply to my business in my industry?’ and by considering what stage you’re now in.

Each step may sound simple, but they aren’t always easy. And there can be many layers to each.

As your company evolves and shifts, you may find yourself revisiting some of the steps.

These are presented sequentially, but this can easily be a circular process.

1. Clearly define your target market or buyer and serve their needs.

   • You may also have more than one target buyer/market for each product/service you have. Consider their life stage, circumstances, needs and wants.

2. Market your services to them: consider both online and offline methods.

   • This is where I see an opportunity for many founders/owners. Consider multiple ways to connect with your target buyer. You don’t need many, but consider different methods.

   • Don’t be afraid to experiment and try new methods to get more eyes on your offerings.

3. Provide excellent customer service so you retain the customers you attract, getting referrals and testimonials.

   • Serve them well. Observe how they use your product/service. What’s the impact from using your offerings? Practice asking for referrals and testimonials often.

4. Continuously improve your products and services.

   • Learn from your customers. Ask them for feedback on why they bought, what they find valuable, what else would make their experience better. This is how you iterate your products and services; improving them through the experience of actual users. Practice testing, learning and improving what you offer.

5. Consider how to make your product/service offerings more scalable.

   • How can you serve more buyers through your systems, processes and business model vs more of your own time in service delivery? How can you serve more people sustainably?

6. Create partnerships with other businesses.

   • Now that you have solid, tested offerings and can serve more people, creating partnerships with other businesses that also serves your clients, but in different ways, can expand the markets you reach. Developing partnerships is a great way to reach audiences you’re not currently reaching.

7. Track your key business metrics and identify ways to improve your efficiency.

   • Now that you’re offering your products/services to more people, identify cumbersome processes that are slowing you down. Identify processes that improve value to your customers and reduce your company’s time serving them. How might you improve your business metrics through your processes?

8. Invest in team training and development.

   • Consider the impact higher retention can have on your business; who might you develop to take leadership positions in your growing business?

9. Stay attuned to industry trends.

   • Adapt your business and how you operate based on trends you’re seeing. This is how you evolve and stay relevant. As you consider which trends to incorporate, balance this with keeping your buyers’ evolving needs and desires in mind.

What stage are you in?

What stage are you trying to get to?

If you’re working through these stages, let’s hop into a conversation together to work this out for your business. I’d love to see you with a plan to advance your company.

NOW is YOUR time.

Ariana

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Leadership Coaching & Business Coach in Canada