My companies have grown every year, even during the pandemic. GROWTH IS NOT OPTIONAL. Here are a few things you need to do to grow…
Update Your Business Plan Every Year
A lot of people write their business plan once and then treat it like the Old Testament. They never go back and look at it. My oldest company is twenty-three years old. Our value proposition and competition have changed over time. We offer things now that we did not/could not before, such as in-house financing.
Big Goals With A Real Strategy
A goal without a strategy is just a wish. Don’t have tons of goals. THREE is enough. A great goal could be to add revenue but how do you plan on doing that and where does it come from?
Big Hire
I like to have a big hire every year. One way you can grow is by bettering your staff. Maybe it’s in sales or operations.
Market More When Competitors Cut Back
They say it’s going to be a challenging year, but you shouldn’t cut back on marketing because of this. I bought commercials during the AFC/NFC Championship Games and the Superbowl. Meanwhile, my competition is marketing less!
Always be ramping up your marketing. I never cut back in this area.
Sell More to the Same People
I get text a week from a repeat customer asking if we can do something for them. I don’t mean to brag, but I want to be the first company they reach out to if they’re looking for a service we provide.
One way to do that is sell complimentary products or services. Constantly be adding more so you can to the same people.
Do More
More volume! Work a little harder.
Be Better
I’m studying how to be a better negotiator. You should always be growing as a person and an entrepreneur.
Growth Is NOT Optional
If you’re not growing, you’re dying!
