| Ask any business owner if they have a growth | | | | toward change, with an increasing willingness |
| objective for next year and you're sure to | | | | among customers to try something new. You too |
| receive a resounding "yes!" Revenue and | | | | can capitalize on change and this willingness |
| profitability, of course, are the primary | | | | to try new things if you are willing to |
| growth factors on the minds of most business | | | | experiment with a few new things. A couple |
| owners as well they should be if you want | | | | ways to grow your expertise and experience |
| your business to survive and prosper into the | | | | include: |
| future. However, when planning for growth, | | | | |
| for example, deciding exactly what to do to | | | | --- Offer a product or service to a new |
| achieve your growth goals, I would suggest | | | | target market for free or at a significant |
| expanding those factors beyond revenue and | | | | discount. |
| profitability to include Reputation, | | | | |
| Expertise and Perspective, and here's why. | | | | --- Offer a scaled down product or service to |
| | | | your target customers pro bono. |
| REPUTATION - When you strip away the assets | | | | |
| of your company, either inventory or | | | | --- Create a new distribution channel. For |
| intellectual capital, all you really have | | | | example, convert a training seminar to a book |
| left is your reputation. Customers and | | | | or perhaps convert a book to a training |
| clients buy your products and services | | | | seminar. |
| because of your reputation, i.e. your ability | | | | |
| to either create a solution for your | | | | Keep in mind that expertise is about quality |
| customers or lead them to one. So if | | | | and creating more value. A little creativity |
| perception is reality, or if at least it has | | | | and a willingness to try something new can go |
| something to do with it, business growth must | | | | a long way! |
| include growing your reputation. A few | | | | |
| excellent ways to do this include: | | | | PERSPECTIVE |
| | | | |
| --- Conducting surveys that will interest | | | | Growth and perspective is much more about you |
| your customers and ideally present new and | | | | than it is about your business - it's all |
| valuable information to them. | | | | about learning. Developing strong and valid |
| | | | points of view are invaluable to a business |
| --- Writing letters to the editors of trade | | | | leader and are easily sparked by getting away |
| publications and periodicals that your target | | | | from the routine. Some ways to broaden your |
| customers read (and don't forget on-line | | | | perspective include: |
| publications). | | | | |
| | | | --- Attending seminars and workshops. |
| --- Preparing and publishing "White Papers" | | | | |
| that research and analyze important topics | | | | --- Enrolling in college courses (anything |
| for your target customers - keeping your | | | | you like). |
| writing objective fact-filled and devoid of | | | | |
| any marketing hype. | | | | --- Reading at least one non-fiction book per |
| | | | month. |
| --- Joining a business association that | | | | |
| clearly adds value for its constituents and | | | | --- Joining mastermind groups. |
| taking on a leadership role, e.g. association | | | | |
| officer, director or committee chair. | | | | --- Joining collaborative strategy groups. |
| | | | |
| Reputation is about demonstrating leadership, | | | | Again, there are numerous opportunities to |
| creativity and results in your market niche | | | | grow perspective. Just be sure to choose |
| and these tactics will help you do so. They | | | | carefully and be willing to contribute in |
| also help position you and your company as | | | | order to receive. |
| "experts." | | | | |
| | | | Growth is a requirement for business, and we |
| EXPERTISE | | | | all want to grow our revenue and |
| | | | profitability. However, projecting growth |
| Business growth should also include expanding | | | | just by extrapolating last year's numbers, or |
| your products and services or expanding your | | | | by choosing a revenue goal of where you |
| target markets, or some combination of each. | | | | really want to be, won't necessarily get you |
| This must be done very carefully of course, | | | | there. |
| considering the classic and valid argument | | | | |
| that you can't be all things to all people. | | | | Growing your reputation, expertise and |
| However, customer needs and wants are | | | | perspective will. |
| constantly changing and so are attitudes | | | | |