Perhaps you started as an online home business and it morphed into something big enough to hire people and build a small business around. Perhaps you came up with a brilliant idea, created a prototype, and got funding to launch a business. Regardless of how you started, it’s important to continue to push ahead and grow your business.
You have to keep up the momentum because now is not the time to rest on your laurels. You have to continue to expand your business and reach even loftier goals.
With that in mind, let’s take a look at some ways to grow your business to the next level:
- Update your technology
It’s difficult to stay on the fast track if you’re not taking advantage of the flexibility and scope of the latest technology. For instance, if you’re managing IT in-house, you’re in the slow lane. Using streamlined hosted solutions will get you up to speed.
Here are at least five big reasons why you should consider this option:
- 1. You’ll slash your capital expenses by not having to hire an IT team and maintain your hardware.
- 2. You’ll be able to scale bandwidth up or down depending on the demands on your business. Every business has some kind of seasonal cycle.
- 3. You’ll get automatic software and security updates. Instead of focusing on maintaining your system, you can focus on the things more essential things necessary to grow your business.
- 4. You’ll be covered when it comes to disaster recovery. Your hosted solution takes care of all backups and provides recovery solutions.
- 5. You’ll find it easier to get more work done. For instance, collaboration is a snap and you have total document control. You can also work from anywhere in the world on any internet-based device.
- Use systems thinking to effectively solve new business problems.
What is systems thinking?
A system consists of three parts.
- First, the input, which could be a cause or agent.
- Second, a throughput, which could be a process, a method, or a series of steps.
- Third, the output, which could be a consequence, result or outcome.
So, for example, if you needed to get more customers, a system would look like this:
- The Input. You, the marketer.
- The throughput. The marketing strategies.
- The output: New leads.
By thinking in this way, you can improve the efficiency of each part.
- First, you can improve the input by figuring out what you can do to get better at marketing.
- Next, you can improve the throughput, by thinking about a number of diverse marketing strategies and then coming up with a short list of those that you have the money, knowledge, and experience to apply effectively.
- Finally, you can improve the output by creating an avatar of your ideal customers so that you recognize them when they show up.
Instead of randomly mulling over a business problem and coming up with some vague notions about what to do about it, it would make a world of difference to think in terms of systems. Systems thinking will help you figure out how to manage more customers, increased cash flow, rising competition, and larger staff. This thinking methodology will help you to convert each problem into a project.
- Hire the right people.
You need smart, qualified people for different jobs and you need a diversity of skillsets. This means that you have to get good at recruiting. Unless you think carefully about the roles you want to fill, you will just try to forcefit the people you hire into job responsibilities. You will also get a lot of duplication of skillsets.
Hiring the right people starts with getting a clear idea about what roles you need to fill to run your company. Next, you need to figure out an effective way of evaluating candidates so that you pick the people with the right skillsets.
Move in the Right Direction
Using these three guidelines will help you move in the right direction when you’re ready to grow your business and take it to the next level.