If you’re a business owner in 2012, you’re an exceptional individual. You’ve survived one of the most challenging economic periods in history. Congratulations. You’re amazing.
At the same time, I bet that merely ‘surviving’ financially is not why you want to be in business. Business is (and, I’ll reveal my own bias here) about growth!
There’s a Secret for Growing Revenues?
YES! Years ago, as a management consultant at a large international trade association, I was mentored by a Gordon A. Kratz, CLU. Gordon developed a process, delivered by myself and other consultants, that significantly increased the rate of growth for companies who used our process — relative to their peers that did not use our process.
Leverage Strengths by Reducing Limitations
No company is perfect. You have factors going for you (strengths) and factors going against you (limitations). The secret is to leverage your strengths by reducing your limitations.
For example, if you have a great product but an ineffective distribution system, you want to work on your distribution system. Improving your product, while easier, will not do as much to help you increase your revenues or growth.
Assume you’re able to generate leads, but your people aren’t servicing your customers. In this case, training your people to create an ‘exquisite customer experience’ will get people coming back –– with the higher margins for profit and growth their sales suggest. Make sense?
Knowing What To Address Is Just The Beginning
Once you’ve isolated the addressable (key word!) ‘limitations’ in your business, you want to set goals to eliminate them. For each goal, you want to build an action plan to make it real. That gives you what every business owner wants — control –– of your future.
Growth reflects a process that is best implemented with advice from a consultant outside of the management team that is engaged in the daily operation of your business.