Friday 10th May, 2024
Earlier in April I had the pleasure of chatting with the Awesome Amanda Burlow of AWIC and shared my Top Tips for Growth.
For those who missed it, you can listen on the AWIC website or read the tips below.
TOP TIP FOR GROWTH 1 – START WITH THE END IN MIND
You are in charge of your own destiny. What you need to decide is where that destiny may be and what will it look like. A company goal should be like a lighthouse for all employees, keeping them steered toward it without hitting the rocks!
This goal will allow the management to strategically plan the route and assist in decisions around staffing, premise size and customer avatars. Ultimately how many orders are required to achieve the goal.
TOP TIP FOR GROWTH 2 – CAST A WIDE NET
When a company wants to grow there are 2 options. Either do more of what they are currently doing or do something new.
Increasing what you are currently doing is often knows as scaling. For example,
- 1 salesperson generate $1m
- 2 sales people generate $2m
- 3 sales people generate $3m
However, I always have to ask clients, if it is that easy why haven’t you done it already!
Adding more opportunity channels will compliment your existing avenues. As it is something you are not doing now, will be growth. But how to find them.
My method is fairly simple.
- Brainstorm
- Analyse
- Test
- Confirm
- Implement
TOP TIP FOR GROWTH 3 – CONSISTENCY AND QUALITY
The best theory I have learnt to deliver growth is simple – KEEP MOVING FORWARD.
Once you have set your goal, keep moving in that direction. If it is an inch or a mile each day, just keep moving in the right direction. We all have good and bad days but stepping in the direction of our goal we will get there eventually.
The key is to always offer the best quality in all tasks that you do. A culture of high quality is created by insisting that all tasks, regardless of how small, are done to the highest standards.
If you imagine a line from where you are now to your goal;
- consistency will be a step toward the goal
- poor quality tasks will be a step back
TOP TIP FOR GROWTH 4 – NUMBERS NEVER LIE
In most cases when we look to achieve growth there will be a number associated with the goal. Company to achieve turnover of $$$ by this date, company to complete “x” numbers of project by that date or company to help “x” clients by when.
The key in all of these examples is the specific number. Make sure that we regularly check in with how we are tracking against this number.
Once, I had a sales person who worked for me. I would ask, “how do you think you are getting on?” He would respond, “everyone likes me and are pleased when I visit.” I had to point out to him that the sales were actually less that the previous year.
The key to numbers is that they do not have any emotion or bias. When looking at achieving goals we may feel that we are doing brilliantly or poorly. Ultimately the numbers will never lie!
TOP TIP FOR GROWTH 5 – NO ONE KNOWS EVERYTHING
Regardless of the size of an organisation, the leaders within the business will rarely know everything. They may have a financial, sales and marketing or operations background. This is amplified in smaller businesses where the leadership team is potentially only one person.
The key in this situation is to invest in expertise. Here you have two options – recruit new staff or hire a consultant.
If you are ready to recruit, make sure that you hire the best person you can afford and fill any gaps in the current expertise pool. Look for individuals who have a growth mindset and can demonstrate how they achieved growth not just what they did. Finally once you get them on board, listen to them, allow them to bring this new knowledge into your company and most importantly learn from them.
If you are not ready to recruit but need assistance then consider an external consultant. Like “Top Tip for Growth 1 – Start with the end in mind”, it is important to know what position you want to be in once you finish working with the consultant and learn from them. Working with consultants should be a short to medium arrangement, otherwise it may be better to look to take on a full time employee. My goal, as a consultant, is always to build understanding and momentum that leads to an employee.
If you would like any additional support in your business to achieve your goals, why not reach out for a no obligation chat at info@fbsconsulting.com.au or phone 0468 794 040. Also, if you enjoyed this blog there is more to be found at our Latest Blog Pages.
We are here to help your company grow.