When it comes to business growth, you have a lot of opportunities to grow and scale your business. But there are only a handful that really make a difference when it comes to your bottom line. So today, I want to go over the four engines for business growth that I teach my business coaching clients about which allows them to focus their time and attention and grow faster than most think is possible.
Strategic Focus
The first engine of business growth is what we would call your strategic focus. This is where every quarter you step back and say, of all the things we could do, here’s the one, two or three most important focuses for this area of the business or department. And then you put those down into a written plan that you would then follow over the next three months. This tactic will not only help you get more done in a shorter amount of time, but will allow you to focus on the items that fuel the most growth for your business. Because you only have a limited amount of time, talent, attention, money and resources, how you use those makes a difference in your ability to grow your business.
Ability to Execute
The second engine of growth has to do with your ability to execute on ideas and plans consistently. It is really easy to come up with a plan and focus your attention for a short while, but if you are able to take that plan and execute it on it quarter after quarter that is where you start to see the needle really move and your business grow. This coupled with a good strategic plan can make a huge difference for your business.
Peer Group
The third engine of growth has to do with your peer group. If you surround yourself with others who are working on growing their businesses, and are able to feed off of that energy and bounce ideas and find solutions to problems, you will be able to grow your business faster than someone who remains stagnant without a peer group. This is also a great opportunity to look into finding a business coach or mentor to help elevate your thinking and your growth mindset. Because there is something transformative about having someone on your side that has been through the problems and issues that you have and come out the other side triumphant.
Leadership
And lastly we have the engine of leadership. This is the team that you have surrounding you and has to do with their ability to focus on the end goal. A leadership team that is in alignment can really help your business reach the next level. And when coupled with the other engines can make a huge difference in your ability to reach your business goals.
When it comes to business growth and development, which business growth engine do you see as being the most transformative for your business? And how can you couple it with your strengths to expand your growth plan?