If you have asked yourself the question “do I want to grow”, or often “can I afford not to grow”, and you have answered yes, then you are one of 74% of SME business leaders who say they want to grow. Of these SME business leaders, only 33% actually go on to grow, but you can improve your odds by working with a growth coach and by following the steps below:
- Ensure mental constraints don’t hold you back
- Many businesses don’t grow because the business leader or leaders do not believe that they can grow in an already saturated and highly competitive market place.
- They are afraid they will fail
- They listen to people around them who put them down
- Know where you are going
- Do you know where you want to be and in how long? Is this defined in quantifiable terms and written down?
- “If you set off on a journey to anywhere, you are likely to end up nowhere”, Brad Sugars
- Do you have a plan on how to get there?
- A Business Plan is a good start
- Do you have funds in place for any investment needed?
- Do you know how much you will need for how long
- Do you know what financing options are available to you
- Do you have the information that funders will require to make a decision
- Do you know and trust a growth coach who you are happy to work with?
- Finding the right coach to work with is probably the single most important factor in your growth
- Businesses who have growth coaching typically grow 4 times faster than those that don’t
At Business Works we have our own growth coach in Jo Tomlinson.