You might be doing fine and dandy with your business revenues and profits, or you might feel the need to generate more of both. Regardless of your particular circumstances, it is a well-known business axiom that like a shark, organizations (for-profit or not-for-profit) must continually move forward. Growth = Survival.
Growth in any aspect of life requires well-considered and attainable goals, objectives, strategies and an action plan. Be mindful that what you set out to do, while perhaps far-reaching, has the best chance of success if things are kept quite simple and not complex at all. Here are some strategies that may help you to achieve your goals, whatever they are.
Productivity is a key component of success in life and business. Whether you prefer to view productivity as working hard or working smart (I say a bit of both!), nothing happens unless what must be done is actually done. Plans must be conceived, discussed and implemented and then measured for efficacy and impact.
Assess your technological capabilities and make sure that you are using devices and protocols that are time-saving. Examine also the way you deliver your products and services. Operational efficiencies save time and money and allow you to direct your creative energies toward money-generating activities, such as performing market research and competitive analyses, or just plain old resting and refreshing your energy stores.
Making it possible to bring in as many customers as possible as your organization quickly and inexpensively provides their products and services is the ultimate goal of productivity. How can you do what you do faster and less expensively and maintain (or improve) quality as you do?
Decreasing fixed and/or variable expenses and increasing sales revenues are money in the bank for your operation. Take the money saved or earned and put it back into the business, to facilitate business growth. Improve or streamline operations; go to a conference and meet prospective customers or colleagues with whom you might forge a strategic partnership; invest in professional development that will give you a competitive advantage; upgrade business equipment and technology.
The best way to attract clients is to meet or re-connect with those who might hire or refer you. Freelancers must circulate. Networking, that first step in relationship-building, can be combined quite effectively with professional development when you attend a conference or symposium. Keeping your skills honed or picking up a certificate can only make you more attractive to prospects.
In addition, strengthen your reputation as an expert and make some money in the process by searching for teaching opportunities. While you’re at it, perhaps you might refresh an older workshop or generate a new topic and give the gatekeepers new reasons to offer you a teaching contract. Seek out speaking opportunities as well, including moderating or speaking on a panel.
Growing and expanding your business, perhaps by adding new services for entering a niche market, is a multi-dimensional process. Your growth and expansion plans may take several months to unfold. Plan well, implement your plans expertly, choose relevant metrics to test efficacy and make adjustments as needed along the way.
Thanks for reading,