Thinking bigger about our business and what the business offers the world can propel the business into areas of growth never imaged. This can aslo keep the business refreshed and keeping up with constant changes, market forces and what is happening locally and internationally.
Getting stuck in always doing the same thing the same way, may seem reproducible and efficient, but have you seen how others are doing this? When was your process created? Being able to offer a service or product well is of course good business, are you doing this the most effient way today as opposed to 10 years ago? Are there new markets to go into? Are there new products you can offer to the same market?
The manufacturing industry is one example of this, where the businesses that didn’t really look at cost cutting and moving manufacturing to China have had issues with costs from labour and production costs.
The business development process may be simply implementing a culture of continuous improvement or it may be looking for the next big growth step. Whichever stage the business is in, these 5 steps are important for thinking bigger about the business and focusing in on what the business is offering customers and prospects.
1. Innovation
New approaches, efficiency and better delivery of the service/product to the customer are the driving forces for innovation and growth. Being aware of what is happening in the industry and market place is essential. Be ware if you don’t because another company will.
Thinking bigger about your business and offerings is the driving force behind innovation. Wanting to be the best, wanting to offer a brilliant service, wanting to reach more clients than ever thought possible. All these mindsets will help drive the innovation your busienss needs for business development.
2. Planning
Being bold and having high expectations in all areas of the project will get the business out of the comfort zone and propel the business forward.
To make these changes and improvements needs planning. These may have a timeframe of one or two year or more to implement the projects. It all depends on the size of the change and what is trying to be achieved.
Set down a pathway for growth. Have the Owners, management and staff do the education to make the changes. Put a plan in action to realise the goals.
The planning process needs to be one and two years ahead, the timing is all dependent on the size and complexity of the projects.
3. Action Goals
This involves goal setting and focus. Setting intention goals, revisiting and checking off completion of tasks.
The following are important:
- Keep goals easy to see as reminders
- Check in daily and weekly to see you’re on target
- Set SMART goals – Specific, Measureable, ACtionable, Realistic and Timely
- Celebrate when the tasks are checked off and the goals achieved.
- Reset goals that are bigger and will stretch you and the business further.
4. Collaboration
Constantly be looking for strategic partners who can help you in the pursuit of your aspirations. These are people who you may (or may not) do business with but who can help you in the journey of where you are wanting to go.
By building collaborations, this can help with building referral partners, addliate marketing, growing your connections and the ability to get your message out there.
Building long term relationships
5. Measurement
Measurement is pivotal. It keeps the business honest. Choose the measurements in two areas
– Financial – Profit and Loss, Cash Flow
- Sales & Marketing – Number of Leads in Pipeline, Lead Generation, Views of Website, Number of Sales Calls, Amount of sales and so on.
- Personel and teams – appropriate metrics to motivate and keep the individuals and teams on task.
Choose measurements that are meaningful to your business.
Encouraging teams, giving rewards & celebrating the successes are important for keeping a postivity and valued culture for growth and business development.
In Summary:
A mindset of growth and development with thinking bigger about your business offering is the way to build the business and achieve business & personal aspriations. Focusing actively in on Innovation, Planning, Action Goals, Collaborations and Measurement will propel business development further and in a successful pathway.
Do an audit on your business and check out where these 5 steps are. This will highlight steps for the business to think bigger and look at growth strategies.
Adrienne McLean
Adrienne McLean,The Speakers Practice helps Professionals with Business Development, Marketing & Communications. Email Adrienne on adrienne@adriennemclean.com or ring on mobile 0414 367 960.
