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