By Grace Rivera
Every business executive wants to see their business dominate their market niche. However, only a few have the knowledge on how to maintain their growth for the long term. Moreover, most businesspeople settle at some point and hit a plateau because they fear growth might disrupt their day-to-day operations. A few are willing to do it, but don’t think they have enough people to go with them for the long haul.
Sustaining your business growth will not only require the financial back up for fuel, but also the intangibles — the right people, the right marketing strategy, and the right services and products to join the boat and keep it afloat. With all these in check, you can prevent your business from falling off the track.
A strong foundation about the goings-on of the operations will also reduce the risks to your business as time goes by. Designing an ideal workplace that encourages employee growth, improving customer service, building right teams that promote greater productivity, and forming external relationships that propel your organization to become a billion-dollar organization are but a few of the key ingredients to keep your business growing.
Scaling your business to become three or four times bigger than it is today is really scary, but not with these four actionable ways to sustain business growth.
1. Put the Right People in the Right Roles
Your people are your best resources and you can bank on them for growth. A company who has the best talents has a very high possibility of growth especially in the field of print advertising. A business without talented people is going to be nothing but a boardroom filled with airheads. And without talent, a business won’t grow and expand.
Scaling your custom signs company, for example, carries with it a huge risk, so there’s a need for you to evaluate its capability to sustain growth. Do you think your team is able to identify opportunities to serve your customers better? Are they passionate about their work and always seeking improvement?
If you are confident you have enough talented people, you are up for the next challenge.
2. Focus on Efficient Operations
A cost-sensitive and efficiency-driven mindset in the workplace must be subdued in order for the operations to be efficient. Your team managers, leaders, and employees on the grassroots level should operate, communicate, and connect through processes that are cost-efficient.
Although you might think there’s a really big gap between your role and that of the people on your operations team, a simple way to subdue a cost-sensitive mindset is to provide the tools that help them become more efficient. Furthermore, an organization that has strong communication channels provide a surefire way for everyone to be heard and to contribute to the company’s growth.
If you want your company to succeed, focus on the micro-success of the people within your organization.
3. Foster an Entrepreneurial Spirit
For a businessperson, there’s no such thing as the separation of work and of life. Both are in the same picture and tread in the same journey, but it doesn’t mean a businessperson is not enjoying his life. On the other hand, a businessman who enjoys his work-life is someone who lives by the principles and naturally embodies the characteristics of a true entrepreneur.
A businessperson has to have an entrepreneurial spirit in order to drive more sales; it is a necessary ingredient for client prospecting. An entrepreneurial person who looks at long-term and sustainable growth finds clients who have the same goals and commitment.
Moreover, having an entrepreneurial spirit will allow you to see not just on the surface but beyond it. It will guide you to the right clients, related to your business design.
4. Follow a Clear Decision-Making Process
Leaders exist to solve problems, and whether you agree or not, the people at the top always have the last word on every decision an organization is going to make. A businessperson must have the balls to make decisions in line with a sound decision-making process.
As a major stakeholder, the leaders hold in their hands the future of their organization and the people who work for them. This is why every decision has to come from a good amount of research, careful planning, and right timing. It should not be a product of whimsical thinking or any emotional impulse.
Transparency is also key to keeping the organization forward. It doesn’t mean you need to give ALL of the information about the organization to everyone in the company, but it means giving all the necessary information to the rightful parties without violating any existing rules of privacy.
So if your decision is going to affect operations or leaders in core positions, you need to be transparent about it and set proper expectations about any changes they will encounter in the future.
Takeaway
As a business owner, your primary goal is to sustain and let your business grow. Do not hesitate to share your ideas with others and let them speak for themselves, too. Sustainable growth will not be possible if you’re alone. It demands a strong, collaborative team and business units that will make your business soar high.
Photo credit: Pin on a diagram from Nomad_Soul/Shutterstock