Growth can mean different things to different businesses. For some, it can simply mean that they want to increase their sales turnover, profits, or their share in the market. For others, it might look like taking on more staff or even expanding into offering new products or services. Another example of a growing business is one that's ready to increase its physical presence with more premises or shop outlets, while those selling online might look at increasing their virtual presence.
As you can see, growth can take many forms.
But how do you know you are ready to grow YOUR business? Here are some ways to tell...
- You have regular repeat customers that proves your product or service is of a good quality and, most importantly, in demand! This gives you a stable base to grow your business from.
- Your customers WANT you to grow. Perhaps they've been asking for more products or services form you, or even more of your time.
- If your industry is growing, now might be a good time and low risk opportunity for you to grow with it. Are there any new products or services you could offer?
- You actually have too much business! Perhaps you have more business than you can handle at the moment and risk over trading. Now might be a good time to take on staff to help you grow sustainable.
- You are stuck at a certain turnover and want to increase it - now is the time to get a serious growth plan in place.
This might be a daunting prospect for some business owners, but the key thing to remember is that growing your business is about working smarter, not harder.
It is about thinking outside of the box and putting new ideas into action to get your business to the next level faster.
So, how do our team of experienced business growth advisors work out the best route to grow your business?
- We simply look at where your business is currently at through our unique business diagnostic methods.
- We listen to what your growth ambitions are and where you realistically want your business to be in the next 12-36 months.
- We then work out a realistic and achievable strategic plan to achieve your growth ambitions as quickly as possible.
Here's our client Cheryl Grogan, founder of AJ's Playdays, on how we helped her to scale-up her business...
If you are a female-led business based in the Liverpool City Region which has been trading for under 42 months and you'd like to explore how we can help you achieve your business growth ambitions, then we could help!
Our partners at The Women’s Organisation are running a series of Grow & Thrive Business Masterclasses to help you GROW.
When & How to Take on Staff
Tuesday 8th October, 10am - 1pm, at 54 St James Street
Here's how we helped our client Laura Richardson, founder of The Beauty of Business, get to the stage of taking on her first employee...
Master your Sales & Marketing strategy
Wednesday 16th October, 10am - 1pm, at 54 St James Street.