5 STEPS TO GROW YOUR BUSINESS?

Growth, scale, branch out…are words that keep running through an entrepreneur’s head from day 1 of setting up their business venture. The very stepping stone of having a successful business is to have the goals to work towards them.

If as a business owner, you don’t have the goals and dreams to work towards then there’s no point in having a business. Whether it is a passion project or a family business you have taken over, you must set clear goals in order to take the business venture further.

Having said that, growth is also something that should be dealt with practically and with utmost sensibility.

Lot of business owners set their initial business goals, achieve them and then remain comfortable in the glow of that first taste of success. Once their dreams are achieved, they start becoming complacent. This sets in a refusal to think out of the box and spread out.

Soon, they find themselves stuck in a rut and unable to move forward in the same business that they once started and ran with so much enthusiasm and passion.

Whether you are a stable entrepreneur, a surviving one or a successful entrepreneur, each kind of you needs to GROW in your business and make sure it is a consistent growth.

What to do when such a thing starts setting in? How to grow out of a lack of growth in business?

Here are some easy steps to follow:

1. Firstly, accept the fact that you are settling into a comfort zone. Once you’ve accepted this, realise that you need to take risks. Don’t become comfortable with your success. Remember the big names that have reinvented themselves to grow further and better!
2. Invest in learning. Any brand or any business that has stopped learning has started collapsing. Always be open to experiences and learnings that you can implement in your business. But learning should not stop once the new set of goals have been achieved. It should be a continuous and consistent process.
3. Be open to changes, even if it means changing your entire business model. Taking risks only means that you’re giving life its best shot. Fail fast but fail differently so you learn from the mistakes and grow.
4. Find a mentor. Someone who’s been there and done that, someone suited to your persona and your business’ persona, someone who can understand your struggles and hand-hold you in your business journey and help you figure out customised growth strategies for your business.
5. Spend time on innovating new products and services. One sure shot step towards growth is when you discover newer pastures for your business previously unexplored. It could be new geographies, structure, anything. Bring back a sense of new enthusiasm in your business to instill that fresh feeling of growth.

Have a checklist of the above things when you are ready to scale up in your business.

But more importantly, know that there’s always a next level to play for, no matter what stage of business you are in!

So, fellow entrepreneurs, grab that chance and reach for your goals step after step!

As I keep saying, growth lies at the end of your comfort zone!

Rajiv Talreja, one of Asia’s leading business coaches is known for his entrepreneurial programs and workshops that have empowered 1000s of business owners to experience a transformation in their businesses. Sign up for his webinars and workshops to delve deeper into the world of business coaching and be a part of a community of entrepreneurs who are now leading successful businesses and experiencing growth at every stage of their ventures!