Growing Your BusinessIsla Baliszewska, from the Swindon Coaching Team, gives some helpful advice on how to ensure your business grows
Three days later the Department for Business, Innovation and Skills hosted the launch of the Start Up Britain Enterprise calendar. That event was full of ‘grafters, doers, hard-workers and entrepreneurs’, all looking for opportunities and support to grow their businesses.
BIS is behind the provision of a range of support and access to events and resources for hungry business owners, entrepreneurs and would-be businesses. To quote Start Up Britain "There’s a business in everyone...find the business in you."
Focus on the three O's...
So, what can you do to ensure that the business you have can create sustainable growth? In 2009 in Swindon there were 610 business start-ups and 710 business closures. This deficit wasn’t bad, happening as it did in the middle of the recession, and overall Wiltshire did better than the national average, meaning that our county "demonstrates a healthy level of economic resilience through the recession".
It would appear businesses in Wiltshire are geographically well placed and we have an enthusiastic Government behind us!
But we need more than that. We need the three ‘O’s: Outcomes, Options and to be Objective.
What are your outcomes in starting up your business? What do you want to get from your business, what is your business model - is this a life-style business or are you building an exit strategy?
Without a clear outcome how do you know where you are going and whether you are on course?
What options do you have to grow your business, in terms of:
- finance requirements
- product development
- staff development
Define what resources you have, what resources you need and start to build a strategy for growth with clear targets. Introduce good benchmarks and review policies to maintain momentum, and sustain your growth path.
Retain an objective view of your business. If you are head-down every day, juggling all the balls, wearing every ‘task’ hat and trying to do it all with no time to review your progress, how can you be really effective? Take a moment, step back and look at what you are actually doing.
And some tips:
- Have your Business Development time. This is when you go somewhere quiet, don’t pick up the phone or check your emails, and do at least ONE thing that will move your business forward. Make this BD time sacrosanct, do it every day and you will reap the benefits.
- Everyone has heard of spending too much time ‘in the business’ rather than ‘on the business’. Try spending half a day every month away from your office when you take that objective view of where your business is going. Work with a business coach to gain perspective.
- There will be at least one job in your business which simply does not make economic and realistic sense for you to be doing. Outsource it, delegate it, free yourself up to do what you do best.
Whatever your business vision, to make big profits, to be the best, to introduce new ideas, to become outstanding in your market, keep an eye on that vision, retain clarity and focus on your objectives and enjoy seeing your business flourish the way you want it to.
For more information on the Swindon Coaching Team, please visit their website via the link below.
|Swindon Coaching Team - website|