How to Grow Your Business: Two High Impact Steps to Transform Your Business
How to Grow Your Business: Two High Impact Steps to Transform Your Business
Growth is one of the single most important indicators of an entrepreneur’s success. Without growth, it is impossible for any business to survive – let alone thrive – in our modern economy. This having been said, no two entrepreneurs will grow their businesses the exact same way. In truth, there is no one correct method for growing a business. Rather, entrepreneurs must discover what works best for them and their unique situation.
In the article below we explore two high-impact steps you can take to transform your business and improve your odds of long-term success. While these steps are not meant to be a complete guide, following them will put you on the fast track toward growth in any industry. We hope that you find them useful!
Part One: Creating a Sales Culture
The first step towards increasing sales is to create a culture inside your organization that prioritizes sales. In too many businesses, sales get pushed aside or relegated to junior employees when they should be at the forefront of every manager’s mind. As Jeff Hoffman, Founder, and CEO of MAX International, put it:
“A culture that prioritizes sales keeps everyone focused on top-line revenue growth. If you don’t have a robust focus on growing your revenues, then you won’t grow your business.”
Creating a company culture that values and rewards increased sales requires buy-in from managers. While it might be difficult to convince some managers that increasing sales is their personal responsibility, it will be worth the effort in the long run because creating this type of environment ensures every department is working towards increasing revenue which leads to more satisfied customers.
Part Two: Driving Customer Feedback with Salesforce.com
The second step towards transforming your business is to determine if you are selling what customers actually want. One of the most effective ways to do this is by using Salesforce.com, a cloud-based customer relationship management (CRM) solution.
This article will introduce you to how Salesforce.com can help increase revenue and fix problems that might be preventing you from selling what customers want.
Salesforce provides your organization with an affordable means of developing stronger relationships with happy current customers as well as potential customers by helping you obtain consistent feedback about their buying experience. This consistent feedback enables you to make data-driven decisions about what products or services are best for them which results in increased sales and more satisfied customers.
All successful companies are built around specific strengths and unique talents, which means that all methods for growing a business will not apply equally well across all industries or sectors. However, there are some things every entrepreneur can do to put themselves on the path towards sustainable growth. With this in mind, here are some high-impact steps you can take right now to transform your business into something that scales effectively.
1 ) Target high-value customers
The market is saturated with companies that are more than happy to accept any customer, at any budget. As a result, it can be difficult for an entrepreneur to differentiate themselves in the modern economy. To this end, some entrepreneurs choose to create a unique product or service – something new and fashionable. Others will try to find their niche by offering low-cost services or products to very specific target markets.
However, there is another option – one which will yield better results in most sectors of the modern economy. Instead of trying to please everyone on some level, many successful entrepreneurs have figured out how to identify high-value customers. This segment might be composed of people who are willing to pay more money for better quality products or services. Alternatively, it could be composed of a segment that buys more often or a segment with a higher lifetime value.
Whichever type of high-value customer you target, focusing on these people will have a positive impact on your business in the long run. Not only will this group provide high-quality revenue, but they can also help to define and refine your company’s unique selling proposition. In fact, many successful businesses would not exist today if it weren’t for their early focus on attracting high-value customers rather than trying to please everybody.
2 ) Automation & Replication
In order for small businesses to grow – from one location or within one industry sector – entrepreneurs need to identify and then automate time-consuming tasks that don’t require human intervention (Kerzner, 2012). This will leave entrepreneurs free to focus on high-impact tasks that are important for achieving sustainable growth. Once these time-consuming processes have been automated, the next step is to replicate them across your other locations or product lines.
The idea here is simple – if you have a successful system in one location or for one product line, it will be easy to identify similar strengths, weaknesses, opportunities, and threats across all of your existing businesses & locations. If an entrepreneur has automated & replicated the correct processes, he/she will be able to apply their best practices while avoiding their worst habits. Ultimately, this should lead to significant growth across all of your different companies over time.
These are just high-impact steps every entrepreneur should take if they want to grow their business successfully. For more information about how you can make your business scalable, contact different business experts online today.
How to Grow Your Business: Two High Impact Steps to Transform Your Business Growth is one of the single most important indicators of an entrepreneur’s success. Without growth, it is impossible for any business to survive – let alone thrive – in our modern economy. This having been said, no two entrepreneurs will grow their…