If you want to grow your business our advice is to occasionally stop working in it, step back and take a critical look. We will produce an occasional series of articles with suggestions for business growth for you to consider and decide whether they can be applied in your business.
Basics
Assuming you really want to “grow” your business, meaning you want to make it more profitable and not just increase sales, the first thing to realise is that every strategy, tactic and plan is based on and revolves around, four basic tenets.
1. Getting more customers
2. Each customer buying more frequently from you
3. Increasing the value of each purchase
4. Make your business (you!) more efficient and effective
A first step is to decide why you are “in business”. There are many reasons why people start a business. Being clear about this can make decisions about your future easier to make.
Some of the reasons we come across for being in business include:
· Forced into it because this is the only way to earn a living
· Want to be my own boss
· Looking for more flexibility
· Have a killer idea
· Taking over a family business
· Ambition to be rich
That’s just a selection of the reasons we’ve come across. Yours might be one of these – or something completely different.
As part of our initial discussion with you, we will try to establish your motivations so that we can help and advise you better. We don’t just stop after our initial meeting. It may not be obvious, but we are always looking for the underlying driving force because we know this can change over time and with circumstances.
We would love to talk to you and help you grow your business and realise your dream. Contact us today on (01509) 816150 for a free, initial chat. We can make a difference to you.
Another blog you may find of interest…. The differences between an accountant and a bookkeeper
