If your small business is in the growth phase, that means you have survived your startup phase and are on your way, so well done!
The growth phase of a business is characterised by a rapid increase in sales. Customers have become aware of your business and know how your product or service meets their needs. So, they buy more and more, and more of them come to you, at least to try you out further.
However, I have to rain on your parade slightly to tell you that the growth phase of a business can be stressful times.
This is because the characteristics of the growth phase poses a number of challenges.
When you are starting a business, or even as you grow it from the start and enter into a steady period of consolidation and wish to review your performance, it is useful to take a step back from the nuts and bolts of starting or running your business and consider what makes up a business.
Sure, you must have (hopefully) a great product or service and you must have customers.
But what makes up a successful business? What are the key ingredients you must have?
I created Teik Oh Dot Com in order to help small business owners implement these key ingredients that together make up a successful business, to be the small business owner’s one place to go to in order to find the practical processes to improve their business and become successful. You can subscribe to get these free tools and resources delivered directly to you by clicking on this link and signing up.
Importantly, I believe that when you start your business, you need to focus on six key must-haves in your business to set you up for success.
So let’s dive into the 6 key must-haves in your business.
This blog post is entitled, “3 Secrets of Entrepreneurship”.
Really? Only three?
Well, yes! These are the top three things you must get right if you want to be a successful entrepreneur. They are the three key strategic issues because everything else comes and cascades from these three secrets. All the work you have to do is to ensure you get these three secrets right. I don’t care what kind of a business you own and operate, whether it sells products or services, whether it’s lifestyle or technical, whether it caters to men or women, whether it’s online or bricks and mortar, whether you’re a solopreneur or you do or intend to hire a huge team.
I just wanted to take some time out and announce new ways for you to keep getting value from my website, teikoh.com
You can register your name and email by clicking here. I promise that I will not give your details to anyone else, I hate spam as much as you do. However in return you will get from me weekly free tips, tools and resources on how to grow your business, sent directly to your inbox to read or watch at your own time.
You can also go to my courses page by clicking here and check out what courses are available to help you grow your business. Most of my online courses are “in real time” workshops so that we work together to start your business, or prepare your marketing plan, or prepare your business plan, or get yourself productive.
I’m always writing and talking about how to grow your business. That’s my focus – to help entrepreneurs and small business owners create effective strategies to lead their business into a long term and sustainable affair so that they can achieve their dream of financial and time independence.
However, there is a reality out there that sometimes business might not be great. It might be a macro-economic effect of the global economy, or it might be micro-economic in that your sector just isn’t doing well. Sometimes, it has nothing to do with how you run your business, and that’s the truth.
So what can you do when business isn’t going great for you at this time?
Rather than do nothing and let it wash over you, look at things you can do proactively. In this talk, and in the next couple of weeks, I’ll give you a few ideas about what you can do.
So there’s a couple of ideas – and there’s more over the next couple of weeks. Make sure you review the obvious, as well as the not so obvious.
If you’re reading and watching this in one of my social media channels, you’re so missing out on weekly new updates that can grow your long term and resilient business – why not sign up here to get these updates delivered directly to your inbox (and hey, I hate spam so I promise never to sell or give away your information).
No comments yet.
Add your comment