Smart Ideas Shared By The Experts For Business Growth And Expansion

For most business owners, aiming for their business to last for years and even grow and expand is the main goal. However, it can actually be a huge challenge. If you want to ensure business growth and expansion, it is not enough to simply have a long-term vision but you should have a tangible plan.

You need to determine what sets your business apart. Know your value proposition and what sets your business apart from other industry players. Know why customers should choose you over other companies offering essentially the same products or services that you offer. Companies compete differently. Some outpace the competition by offering lower prices while others have anchored their success upon authority. Either way, your value proposition should be something that only your business can offer customers.

If you let go of that value proposition, there is considerable risk that your company’s competitiveness will be undermined. It is also bets to know your ideal customers. Companies that thrive over the long term do so by offering a solution to a specific problem. While it is enticing to pursue almost every potential customer you might come across, that will only spread your resources thin, leaving little value for actual customers who can benefit from your products or services.

Growth entails making decisive changes. And so, know the key indicators for this growth. Since not all changes are worth pursuing, know what those changes are that can bring about true growth.

In order to determine the right answer to that, you have to identify key indicators which influence growth. After determining those, you will need to funnel your resources toward those. Additional revenue streams can make a business profitable. However, there are some revenue streams that are not sustainable over the long term. There are also products or services which may seem great at the onset but do not bring significant revenues.

Additionally, take cues from the competition. Even if you are routinely beating the competition, there are some areas where your competitors are doing things right. Look at what other players in your industry are doing, evaluate their decisions, and take cues from their success. This is very important in business growth and expansion.

5 Ways to Set the Stage for Growth

There’s no lack of “growth mindset” articles and quotes out there. Challenge is…

After you “get it,” how do you “do it?”

Making road for growth is about finding your own groove, so you can set YOUR stage that allows exploration and experimentation.

1. Learn Something Different

To write good copy, to be good at marketing and to excel in business, you need to know how people operate. At the end of the day, it’s PEOPLE who buy your stuff.

If niche is a way for us to define our place in the world, then wrapping our head around HUMANITY gives us the fundamental building blocks.

Learn from high performers; learn about economics, sociology, psychology; read stories that explore emotions and imagination. These are the input for understanding the world around us.

Look around, be curious, step out of tunnel vision and give you brain food for thoughts.

2. Connect Your Story With the Big Picture

Road doesn’t always “appear” on its own. It’s there… but you gotta get your butt over “there” to see it.

The world that allows you to do your best work and gives you the dream clients IS there. You’ve to CONNECT yourself to it – find your place in it – before the inevitable next step appears under your nose.

Craft your world by telling your story intentionally from the perspective of creating meaning.

Why do you matter to what and who matters to you? Your value and convictions inform and connect YOU with what you do and how you do it.

This is an intentional creation of your story. It’s not a laundry list of your credentials, nor is it a self-gratuitous way to tell your life story.

When you can speak to a larger context in your story, YOUR road will open up.

3. Just Say Yes

To get your butt over to where the road is, you gotta do something. You gotta be in it to win it.

Instead of sitting on your bum, over-engineering and over-analyzing every move, just say YES to opportunities that’ll take you one step closer.

Often times we just need a push, a little momentum, to help us find the rhythm and speed.

It’s different from “throwing spaghetti on the wall and see what sticks” by blindly implementing tactics others say you “should” do.

You need a certain degree of clarity and the discipline of discernment, to understand if saying Yes to a project means taking you closer to where you want to be.

4. Pick the Right Tools and Resources

You need to choose the tools that give room for you to grow in the direction you want. You don’t want to feel hindered by what you can or can’t do because of technology.

Technology should not be a determining or limiting factor in how you express your message and deliver your services.

There’s also a flip side we need to be aware of…

Unfortunately many people tend to purchase too many tools and services, out of FOMO and under the impression that these tools will give them the silver bullet.

There’s a delicate balance between getting a service that allows you room to grow, vs. having unnecessary features and functionalities that cause overwhelm and confusion.

Instead of taking the most straightforward path to get things done, I’ve seen many running around in circles because they let the tools they’ve purchased drive their strategies.

Don’t let FOMO drive you into buying a bunch of tools, services and subscriptions you don’t need in the foreseeable future.

(You’ll much more likely to forget about it than “get to it.”)

Everything is evolving, including your business and technology. You don’t need to be sitting on obsolete stuff that distracts you from doing what really matters.

5. Go Outside, Get Some Air

Seriously. Pump some oxygen into your brain.

History’s most creative and impactful figures often say their best ideas come when they take walks in nature. Studies have shown that when people are put in “expansive” spaces (spacious, high ceiling, open) they tend to be more creative.

Stop equating checking stuff off the list with being productive. Instead, be creative and do what matters.

Ling Wong:: Intuitive Brainiac | Creativity Mentor | Copywriting Alchemist. Through her unique blend of Business + Marketing coaching/consulting with a Mindset + Psychic Twist, she helps the maverick-preneurs uncover, articulate & transform their WHY into content that connects, resonates and converts – by way of an intuitive yet rigorous iterative process born out of her Harvard Design School training and 10 years experience in the online marketing industry.

What Are You Missing?

When my husband and I were in Canada we spent a great deal of time in the Blue Mountain Resort near Collingwood, Ontario. We went up to the cute little ski village but it wasn’t a ski village in early September- it was an early fall shopping and dining and fun destination. I shopped for some adorable and inexpensive sweaters. We ate luscious meals. And we observe what they were doing with the ski hills and ski lift. They had turned the ski lifts into a ‘ride experience’ where you could get a look from on high at the area. There was also a number of BMX bikes that went up, followed by their riders in full gear, soon to be soaring down what is normally the ski runs. There was a zip lining area set up to make use of another part of the ski run, as well as sleds going down what were bobsled runs. It was so smart. Using the assets of the ski resort and making a living in the ‘off’ season. This made me think about what opportunities I and others may be missing when it comes to our businesses.

Most of us get super focused on what we are doing when we are in our jobs or businesses. That is mostly a good thing that allows you and I to accomplish the tasks we set out to accomplish, make money, grow our businesses and succeed.

However, sometimes having a telescopic view has you miss the hidden treasures lurking right there in your business or miss opportunities with partners and strategic alliances that could, if you saw them, and acted on them, be the opportunity of a lifetime. When you think about a ski resort, you think snow and sledding and in the off season, you don’t think about it. However, someone saw this opportunity and did some out of the box thinking to create what they currently have.

I started looking at my business and wondering where is the hidden treasure trove. As in all businesses, I have a few different ‘tracks’ as in workshops, speaking, business success individual coaching and group coaching. However, my commitment is to empower people, and more specifically, I have a profound commitment to empower women. Someone approached me with an idea in that realm, but not in the coaching realm. At first, I resisted the idea- saying to myself it will take me off track. After working with my coach and some trusted advisers, it was like I could see the ski resort become a summer destination too. It all came together and I could clearly see how this new venture totally fulfills what my business exists for. (More about that later)

I would suggest taking a look at your business and getting interested if you are missing a treasure trove right in front of you. If that interests you, here is what I would suggest:

· Take an inventory of your assets- ideas, clients, products.

· Take yourself out of the equation and examine what you have from a new perspective- what can I do with this?

· What new opportunities are here?

· What new actions, products, affiliations or directions could you take that would align with what you are doing AND increase your bottom line?

Often this is difficult to do because it is challenging to take your emotions out of it.

I strongly suggest you employ a coach, mentor, other entrepreneurs or marketing professionals to help you discover the hidden gems right there in your business. Then, listen to them and expand what is really profitable in your business.