Before defining the term of sustainable growth, first we need to consider and understand “to start and to grow a business”. The initial initiative for starting a company is to fill a need in the market, to provide an outstanding solution and then of course – make a profit and live a dream 😊 But in order to grow your business and to keep it profitable during a long period of time – you need both to expand your market reach and also to build great internal processes that will support such growth.
This way, sustainable growth is: building the framework of internal processes to support such growth along with reaching out the potential prospects. During this period of time you need to establish core values of the company, brand identity, understanding who is the perfect customer and understanding customer journey, to have all the people, processes, production and everything in place to support your business. Building such framework will serve the business in the long run.
TIPS for building a sustainable growth for your business
- Know Your Product
What are you selling and what? What benefit to you bring? What is the key value of your product/ service?
- Build a business map along with business plan
Business plan is not only for investors. Business plan serves you to fully plan your company growth from the very start. Business map takes you into even more profound process and will assist you to analyze to define next steps to make. It is building strategy, the logic behind it and also tactics – how to actually implement it and bring the idea into reality.
- Build internal processes and operations
Business growth depends not only on customers flow, it also depends on proper functioning of the internal processes. It can be very sad to lose customers just because some of the chain is somehow disconnected or not fully operational. The company has to be agile, to be able to adapt to new situation and flexible enough to enable the growth you are looking for.
- Establish your team
You cannot do everything on your own!! Every person has different strengths and you need establish a strong team working with you, while each of the individuals will have his/her special strength and the whole team will create the perfect synergy to move the business up the hill.
The team and people around you these are not only people working with you, but it also involves developing external relationships with partners, suppliers, organizations, which will assist in your business growth. And the most important part is of course long-term relationships with the customers. These customers will help you to grow your business by spreading the word.
- Build your brand
Growing a business certainly involves building a brand. Your industry and your customers will know then – what is your company stands for, what is your message to the world, what is your innovation to the field, what do you actually offers that so differs from any other.
The company brand will represent it not only outside, but also inside and create company’s culture. People who will come working with your company, will be proud to be part of the team, just because they have the same beliefs.
The brand is not only slogan and culture, it will impact the design, marketing and sales. It will influence the company that you will become.
- Don’t “just do it”, plan first and then do it
Creativity for any company is important, but important decisions have to be supported by logic and thoughtful decision making which will involve all the management team. Plan of each step is important for the sustainable growth of your company, to make sure that you remain at the main path to your goal.
- Perfect your product or service and continue innovating
Constantly learn from the market, receiving and listening to the feedbacks from different customers and industry professionals. Make sure that your product/ service will develop with the trend and the need of the market.
When was the last time your business focused on innovation? Do you know what’s holding your company back and tackle with these challenges?
In business, and in life, if you’re not growing and evolving, you’re staying behind. You do not need to change your company just for a sake of change, but align your business choices with the growing strategy and mindset.
- Learn when to delegate
As business grows, you will have to learn that you cannot and shouldn’t be involved in every aspect of the company. You will need to learn whom to delegate some of the tasks and still be sure that the business continues to run.
These are only some of the things which will support the sustainable growth of your company and to enable me, as a part of the community, to watch and to enjoy your success.