7 min read
The opinions expressed by employees are personal.
Before concluding that there is even a possibility to double your business in this time of economic uncertainty, let me ask you some questions:
- Do you want more utilities and do not know how to achieve it?
- Do you need to generate more sales now?
- Does the number of issues to attend grow and so does the pressure?
- Do you work more, but earn less?
- Are you worried that your competition is taking your customers?
- Does your work team have more “how not” than “how”?
- Do you spend more time worried and frustrated than celebrating your successes?
- Would you like to dedicate yourself to strategy and forget about putting out fires?
If you answered more than five of these questions with a “Yes”, then the problem is not that you think it is impossible to grow in this 2020. There is a more serious problem and it is the survival of your business. Therefore, it is important that you become aware of what is happening to you.
Paralysis, that is the word that reflects the position of the current business community. It is natural, who would not be paralyzed before an uncertain economic landscape ? Especially in the case of business owners – the weight of fallen sales, accounts receivable and a payroll and fixed expenses payable is very large. And this paralysis returns me to what I experienced more than 10 years ago, with the famous 2008 crisis .
Some are very young, but there will be those who remember how the perception of risk skyrocketed and the return on investments fell. The consequences were swift and soon the business owners faced consumers without purchasing power and unattainable or unpaid credits.
And we return to paralysis. Most business owners decided to wait for the waters to calm down to make decisions; However, the price was high and many did not have time to survive. Many learned the lesson and that cost them their heritage.
Today we face a similar environment and there is no conversation that does not bring up issues such as lower economic growth, declining consumer demand, and the risk of investing.
However, within the universe of thousands of business owners who lost everything, there were those who “magically” had accelerated growth. And it is not that they were special or had much luck or more money to invest regardless of the results; rather it had to do with a change in its growth strategy.
The change that these business owners made was to align their growth strategy to a market in full uncertainty and took advantage of the paralysis and lack of strategy of their competitors. This gave them visibility in the market and separated them from those who only expected a change in the conditions of the economy in order to grow.
Stephen Covey, author of the best seller The seven habits of highly effective people , says that all success begins in one place: your mind. That is, to achieve everything you set out, you need, before starting, to have an objective. I call it mindset , which means having a clear vision of what you want before you start – as in a career where you know where the goal is.
That is why, when I listen to business owners who are in difficulty, I confirm that in nine out of 10 cases their problems are due to their ignoring their role as entrepreneurs. Because it is a universal truth that business owners are very good at doing business operations; However, no one has taught them strategic management to successfully grow a business.
Yes, these classic business owners are highly operational and get satisfaction from their sweat. The danger is that by ignoring business management, they operate incorrectly as self-employed and not as entrepreneurs. Because getting around everyday does not mean success; rather, it denotes a lack of knowledge about where they want to take their business. They do not use the mind and that will condemn them to repeat their mistakes every day.
Therefore, if the business environment changes you cannot wait to see what happens – or worse, to see what your direct competition will do – to make business growth decisions. What you will surely need to do now, is to assume that you are the owner of a business that needs strategic thinking to grow rapidly, even in times of uncertainty.
The good news is that uncertainty does not come from outside, but from yourself. Imagine that you are at kilometer 18 of a 21-kilometer race and the runners lose the route or stop just like that. You will surely wonder why they stop? Have they got tired? Will they know where the goal is? Who cares! As long as you know where to direct your steps, I assure you that a medal will wait for you. The same goes for business.
Now that you know that it is possible to double your business, even under the circumstances of this 2020, it was time to share the four keys to double growth in uncertain environments:
- Draw a strategic plan. If the certainties do not come to you, it is best to be clear about what you want, when you want it and how you want it.
- Gain efficiency Implement processes that lower the cost of your product or service while adding more value to your market.
- Become visible If consumers are not buying, with an intelligent and aggressive Marketing plan that generates great traffic from prospects, you will be their first choice.
- Be different. Get as much out of your competitors as possible and design attractive strategies that generate profits quickly.
So if right now uncertainty is stopping the growth of your business, it is time to assume your role as an entrepreneur and define your strategy to grow twice. And if in this “business career” you feel in complete solitude and do not know where to start making that change of mindset that your company needs, then it will encourage you to know that there are specialists ready to accompany you and show you proven strategies to accelerate your business with predictable results.
From a methodology with predictable results it is possible to guarantee accelerated growth that translates into businesses capable of producing millions. Therefore, if you are willing to accept the challenge of growing twice, then I recommend you look for the accompaniment of specialized coaches that guarantee results.