Is it time to push your business growth to the next level?
It could be because you are ready for the next step, that things have started to stagnate, or that you need to transform your business to keep up with demand.
Right now, things might be ticking over nicely, but they aren’t necessarily moving forward. So, it’s time to decide whether you are happy with the way things are or want to strive for business growth.
Change can be daunting. But, done right, it can give your business the boost it needs.
It won’t happen by accident, though. To take your business to the next level, you need to make conscious decisions and put in the effort.
To make it easier for you, we’ve assembled our top tips for taking your business growth up a notch and setting yourself up for success.
6 Ways to Take your Business Growth to the Next Level
1: Get on Top of your Numbers
The first step in taking your business growth to the next level is understanding where you are. To be able to do that, you need to get your business figures in order and have a clear picture of where you stand financially. The best way to do this is to get your records up to date in Xero and run some targeted reports. If you aren’t sure how to do this, your bookkeeper can help.
You’ll also want to audit the other aspects of your business, such as the staff you have and the processes you have in place. By understanding your finances and resources, you’ll be able to see whether you have the capability to grow and what you might need to invest in along the way.
2: Develop a Business Growth Plan
Once you know where you stand, you can think about where you want to go. If you don’t already have one, develop a business plan for your organisation. This can be for a year, five years, even six months, or a quarter if you aren’t sure how things will go.
In the current climate, it is best to focus on a short-term business growth plan in the first instance. Especially as the world is still settling in the wake of a certain pandemic that shall not be named. That’s not to say that you shouldn’t have longer-term plans also, ensure those plans have some flex in case the world turns topsy turvy again!
Whatever timeframe you are working to, your business growth plan should have clear, manageable objectives and goals for each step of your business’s growth.
3: Check your Marketing
You must ensure you are marketing your brand correctly to drive your business growth. Remember that your marketing needs will evolve, so it pays to review your strategy regularly. Your marketing strategy should align with your overall business goals and help you to achieve those goals.
Before investing in ads, you need to ensure you are working from the right platform. Look at whether your digital assets and messaging still highlight your business in the right way and reflect the direction you want your business to go in the future. This doesn’t only include your advertising; you will need to consider updating your website and social media channels if need be.
If you aren’t sure how to build an effective marketing strategy, seek help from a digital marketing expert.
4: Invest in your Staff
Your business won’t get to the next level if your staff aren’t ready to go with it. Invest in good staff training and consider what you can do to attract and retain the top talent you need.
You can also explore the option of remote or virtual team members. Full-time staff are great, but they come with a lot of expenses. You may be able to cover specific projects or tasks with the expertise of a contractor or market specialist.
With today’s technology and the ability to do almost any job from anywhere in the country, virtual team members make a lot of sense. Armed with their own equipment and only charging for the work they do, they can be a great solution to staffing gaps in your business.
5: Hire a Coach
Sometimes a little outside perspective can be incredibly helpful. If you are struggling to see how your business can grow or feel like your limitations are holding your business back, consider working with a coach.
A coach can help you flesh out your ideas, develop growth strategies and give you the confidence and skills to implement them.
There are many different business coaches, so make sure you select one with expertise in the areas you need. Some purely focus on your business’s numbers or processes, whereas others will help you develop the right growth mindset. So, before jumping in with the first option, research to find the right coach for you.
6: Automate and Outsource
It’s incredible how much time you can spend on administration for your business, especially if you try to do it all yourself. Automating or outsourcing regular tasks like admin or bookkeeping can help free up your time to concentrate on your business rather than on it. Options like cloud-based accounting software and automated marketing options can take care of repetitive and time-consuming business tasks.
Another option is to outsource critical tasks to a business expert. Outsourcing can free up your time while giving you peace of mind that the tasks are still being carried out by a reliable and skilled person. Administration and bookkeeping are the perfect tasks to outsource, giving you time to focus on your core business.
And, if you are ready to outsource some tasks, our troops will take them on for you. Admin Army helps with all kinds of tasks, from bookkeeping to payroll and admin tasks, including data entry, document creation and marketing. We offer one-off jobs or packages if you need us regularly.
Contact us now to see how we can create time in your business. We work with clients across New Zealand.