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Business Growth Strategies for Success
Only half of all startups survive more than five years and only one-third make it to 10...
Whatâs the one thing you could do to ensure your business makes it?
IMPLEMENT GROWTH STRATEGIES
Thread
Only half of all startups survive more than five years and only one-third make it to 10...
Whatâs the one thing you could do to ensure your business makes it?
IMPLEMENT GROWTH STRATEGIES
Thread
- Establish and Understand your value proposition.
For your business to sustain long-term growth, you must understand what sets it apart from the competition.
Identify why customers come to you for a product or service. What makes you relevant, differentiated, and credible.
For your business to sustain long-term growth, you must understand what sets it apart from the competition.
Identify why customers come to you for a product or service. What makes you relevant, differentiated, and credible.
- Identify your ideal customer.
Businesses are meant to solve problems.
Be clear, who is your target market? who are you serving?
Nail down your ideal customer, and revert back to this audience as you adjust the business to stimulate growth.
Businesses are meant to solve problems.
Be clear, who is your target market? who are you serving?
Nail down your ideal customer, and revert back to this audience as you adjust the business to stimulate growth.
- Define your key indicators.
Changes must be measurable.
If youâre unable to measure a change, you have no way of knowing whether itâs effective.
Identify which key indicators affect the growth of your business, then dedicate time and money to those areas.
Changes must be measurable.
If youâre unable to measure a change, you have no way of knowing whether itâs effective.
Identify which key indicators affect the growth of your business, then dedicate time and money to those areas.
- Verify your revenue streams.
How do you make money? What revenue streams could you add to make your business more profitable?
Once you identify the potential for new revenue streams, ask yourself if theyâre sustainable in the long run. Before adding new products, test!
How do you make money? What revenue streams could you add to make your business more profitable?
Once you identify the potential for new revenue streams, ask yourself if theyâre sustainable in the long run. Before adding new products, test!
- Look at your competition.
No matter your industry, your competition is likely doing something well that your company is struggling with.
Look toward similar businesses that are growing in new, unique ways to inform your growth strategy.
Donât be afraid to ask for advice!
No matter your industry, your competition is likely doing something well that your company is struggling with.
Look toward similar businesses that are growing in new, unique ways to inform your growth strategy.
Donât be afraid to ask for advice!
- Focus on your strengths.
Sometimes, focusing on your strengths -- rather than trying to improve your weaknesses -- can help you establish growth strategies.
Reorient the playing field to suit your strengths, and build upon them to grow your business.
Sometimes, focusing on your strengths -- rather than trying to improve your weaknesses -- can help you establish growth strategies.
Reorient the playing field to suit your strengths, and build upon them to grow your business.
- Invest in talent.
Your employees have direct contact with your customers, so you need to hire people who are motivated and inspired by your company's products and services.
Be cheap with office furniture, marketing budgets, etc.
Hire few employees, but pay them A LOT OF $$$
Your employees have direct contact with your customers, so you need to hire people who are motivated and inspired by your company's products and services.
Be cheap with office furniture, marketing budgets, etc.
Hire few employees, but pay them A LOT OF $$$
Developing a growth strategy isnât a one-size-fits-all process.
due to changing market conditions, making strategic decisions based on someone elseâs successes would be foolish.
Let's talk! https://twitter.com/messages/compose?recipient_id=1293534896699445250
due to changing market conditions, making strategic decisions based on someone elseâs successes would be foolish.
Let's talk! https://twitter.com/messages/compose?recipient_id=1293534896699445250
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