When you start a business, the main goal is to grow it to some level you have dreamt of or according to your business plan. Now, growing this business is easier to imagine than achieved especially as a small business owner.
Different situations and circumstances will give you hiccups on the path to growing the business. Today i will be sharing with you 4 tips that will help if you use them well.
I have used this tip for years in my businesses and I can say, they are indeed magically helpful if you are truthful to yourself in analysing them alongside your business goals and plans.
We will be using the same word GROW to break down the steps .
G – GOAL
R – REALITY
O – OPTIONS
W – WILL
Let’s break this down.
GOAL- ask yourself this question- What Do You Want To Do?
It sounds simple, but have you realised that when you ask people what they want, a high percentage of them reply with what they do not want. The natural mind is tuned somehow.
We know what you don’t want. You don’t want to fail, you don’t want the business to be slow, you don’t want customers who don’t pay but the main question is – What do you want specifically?
You want the business to grow? How big? What are the numbers you want to be recording? It is so easy to dream it, put it down in facts and figures. Don’t carry imaginary dreams in your head. Analysing them in details gives you clarity.
2. REALITY- This point is so KEY in the present day economy. What you want vs reality. What is happening now vs what you want. You will need to find a balance point with this.
Apart from economic factors, other surrounding factors apply.
What is happening in your business environment? Study and analyse to make your business growth easier.
I have had reasons to drop prices when I needed more money to break even in My business.
– dgvstyles
You need money but the economy is tight and sales are slow. To move sales up, you might want to drop some prices to attract more customers at the end of the day you will make sales and have some break even points.
Another part of reality is to sell what they need and want to buy not just what you want to sell.
3. OPTIONS – ask yourself- What can I do? What are the available options? There is no hard fast rule for success. Different routes lead to your destination.
Have options. Plan A ,B ,C and D. If this blocks, I will take another route and keep moving.
Lack of options is what causes stagnation when you experience the first roadblock in business. And really there are lots of roadblocks on the way.
4. WILL. – What will you do? What can you do?
If I will be fair I sharing a secret with you, this question has helped me a lot in my career growth. I ask myself before a problem happens- “What if this and this happens, what will I do?.”
In all sincerity, it has helped me prepare for some bad situations, of course the unexpected will always pop its head but you always having an idea of what to do , will help you cushion a lot of things.
If you can take few minutes today, analyse these 4 points and you will see how you can plan your business differently.
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Aderonke Olubanjo is the Principal Instructor of the leading fashion college in Oyo State. The college has trained thousands of students in the fashion and Entrepreneurship Development sectors over 2 decades.
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