Ready To Accelerate Growth

September 26th, 2018

Accelerate-Growth-CoachSME-BlogFor most people running a business is all consuming; it takes every waking hour to keep your head above water. But it doesn’t have to be like that. Yes, a growth strategy is challenging but when you’re so busy working in the business it’s hard to make the best decisions.

As the owner it’s your role to make the best decisions, grab opportunities with both hands whilst managing risks too. And that’s all on top of managing employees and keeping clients very happy!

We’re sure you’ve found that running a growth business throws up even more challenges and problems than you ever thought possible. The first is; why aren’t there enough hours in a day?

When was the last time you reviewed where you are on the growth curve? Isn’t right now as good a time as any?

We’ve prepared this checklist for you. These are the questions you must answer before hitting the growth accelerator hard. They’ll be tough to answer but this only works if you’re brutally honest with yourself.

If you can’t answer a question to your satisfaction then do more research, review or change your plan, adjust your goals, look at the problem from another angle. Challenge yourself to get the best possible solutions.

Here’s the 20 questions to help you re-focus on the important stuff.

  1. What could you do better?
  2. Who are your main competitors; what makes them better than you?
  3. Do you know how much capacity you have and where it is?
  4. Do you know the margin you make on each of your product ranges?
  5. How much will you be paid this year and next?
  6. What keeps you awake at night?
  7. When was the last time a client was referred to you, and by who?
  8. What would happen if you die tomorrow?
  9. What is your tax bill going to be?
  10. What new products & services should you be adding or old ones that should be removed?
  11. What’s the biggest opportunity on your radar?
  12. Which clients should you sack, why and when?
  13. What are you / your business really, really good at?
  14. Are you legal and complying with relevant rules & regulations?
  15. How many new clients do you need this year to hit your target?
  16. What’s on your risk list?
  17. What’s your revenue per person?
  18. Who will you hire next?
  19. When was the last time you re-forecasted your business?
  20. Is your business oversubscribed yet?

You’re bound to know other business owners who drive a classy car, are always on holiday, take time off for golf or other leisure activities, have a great home, and life is generally looking very good for them. Their business is growing; more employees join, new company vans appear, an office refit and lots of clients waiting to do business with them. What decisions did they make that made such a big difference?

If you need help then we’d be pleased to help you on your growth journey, call now 07885 197 364

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Shirley Mansfield is a highly experienced business coach and Master Problem Solver. With over 25 years’ experience, she founded CoachSME in 2011 to work with business owners to maximise growth, and she is still trying to reduce the 14 handicap! Keep up to date by following me on Twitter.