Every small business owner says they want to grow. But what kind of growth do they really want? Accidental growth? Growth by luck? Of course not. They want sustained, predictable growth. Growth that allows them to keep their promises to their customers while also increasing their bottom line. In other words, they want good growth.
But how do you create good growth? Here are 3 tips that will help you start 2015 ready to grow.
1. Review Your Goals – Many times we set financial goals without really thinking them through. We all say we want to increase our profits, raise our revenue, and cut our costs but have we put hard numbers on those goals? More importantly, do those numbers have anything to back them up? Look at last year’s numbers – do you notice any trends or patterns? Use those numbers to help you build more realistic goals for the New Year.
2. Review Your Systems – Every business is a series of systems. Step back and look hard at each of them. Which of these systems gives you the most trouble? Which causes the most amount of frustration? Now consider if any of your problems are related to each other. Could your Hiring System be affecting your Operations? If so, kill two birds with one stone by focusing on resolving that one issue.
3. Make a Plan – Once you have some realistic goals (and a few frustrations to focus on) build a realistic plan for each month of the year. Identify at least 1 thing you are going to do each month to either help you get closer to your financial goals or make your systems more efficient. Then find someone you trust and have them hold you accountable.
Follow these three steps and you will be well on your way to starting 2016 ready to grow.