Get an Edge
Every business has some sort of competitive advantage. What is yours? Where can you dominate? To grow your business you should seek out some underlying advantage over the competition so you can dominate in your industry. It doesn’t matter how big or small you are, something will set you apart. Start by looking at your industry’s biggest cost and time constraints. Get outside the box. Challenge conventional thinking.
Own a Phrase
“Just do it.” “Finger licking good.” “The happiest place on earth.” Branding is about owning a word or two in the minds of your market. How can you give your impact in a brief statement? Once you get the phrase down, test it. See what others think. Then own it. Make it part of everything you do. Make it a rally cry. How do you know if you own a phrase? Google it.
Often, many business owners and entrepreneurs try to focus on everything all at once. They will see all the things that need attention or to be fixed and try to handle everything all at the same time. This is a recipe for disaster. Align the entire company around a single measurable priority each quarter that removes a significant challenge or slowdown in your business.
Control Your Cash
Cash flow is the life blood of business. Regardless of how good you are at what you do, if there’s not enough cash flow, you will eventually have to close the doors. This also means that just like in your personal household, you need to make sure that you’re saving some money in your business and creating an emergency fund. By saving properly, you can construct a business model that fuels your growth without the need for outside capital. Look at your cash position daily.
Nothing helps promote your expertise like other people seeing what you have done. Not just in the product or service that you sell, but also in the general helpfulness of everything you do. Flood the digital market with blogs, white papers, YouTube videos, Twitter messages, etc with messages around the phrase you own. Even a plumber can write information on how to unclog simple drains, how to keep things flowing, etc. Write…no excuses.
The Law of Momentum says that it’s easier to keep momentum going than it is to get it started. Push. Huddle daily. Track everything important to your business. Drive priorities, metrics and data gathered from the market. Every day you should be taking some action for growth personally, professionally and with your staff.
Do you want to know how to grow your business more, click here.