For so long, we have seen our clients go through various periods of growth by not only utilizing IT as a part of their process, but more importantly realizing that there is a simplicity to it that can be applied to a multitude of industries. The realization was simply that it’s no secret that every business shares one common objective when it comes down to the focal point of their long term plan…GROWTH! More specifically, a more efficient and sustainable way of conducting day to day activities all while using it as a means of standing out among your competitors.
What is a secret however is the fact that instead of approaching it with the perception of it being a bit scary and having to constantly change the methods in which you attempt to achieve it, the reality is that this simplicity to growth that can be categorized into 7 distinct features of a business that if are efficient enough, will have a direct correlation with any reached goals. Over the course of this blog, we will be briefly touching on each one of these focal points and how it can generally impact a business for the better.
We do need one thing from you though….That is upon finishing reading this blog, take this information with you and sit down with someone within your organization and map out exactly how you can effectively apply it towards your growth strategy.
Is your company on an upward trend of growth or have you begun to plateau or even drop?
7 Pillars Of Business Growth:
- Operations (What Does Your Business Do & Is It Sustainable?)
- This should be the first and last question you ask yourself throughout this whole process. The first question as it should be a building block to go off of when considering how consistent your overall growth strategy current is with where your value lies and the last due to the inevitable fact that you will need to pivot and adjust to some extent, aspects of your strategy and operational process. A company that is efficient in bringing a product or service of unique value to a client or consumer in minimal time as a result of maximum productivity will be at the forefront of consumer’s minds if their experience is positive.
- People (Who Is Employed At Your Company & For What Purpose?)
- It may sound obvious that the people within an organization will either aid or impede a company’s success however, business growth continues to suffer in today’s day and age due to the people within it. This can be categorized into three problems being; purely due to either a lack of transparency between staff members, a specific employee’s skill set going to waste in the wrong role or a lack of ambition and drive of not only personal development but how they fit into the overall success of the company. It is vital to build employees off of character first and skills second as work ethic and attitude can’t be taught.
- Marketing (Plain & Simply…How Are You Getting Your Message To Your Chosen Market?)
- Every year millions upon millions of dollars are wasted by organisations worldwide on various types of marketing campaigns with no clear message, call to action or targeted market associated. The vague and overall view of successful marketing in a nutshell lies in a company’s ability to be empathetic towards potential clients while putting forward a value proposition that focuses on one or more specific pain points relevant to their target market.
- Products (What Unique Value Do Your Products/Services Add To The Market?)
- It’s easy to enter a market with a service or product that already has a proven track record of success, what will make a business unique however is it’s ability to either come up with an innovation of something widely available or come up with a more efficient way in which to carry out a task. Product or service development in itself will aid the aforementioned two pillars as you will gain a clearer understanding of the exact team needed in order to bring the idea to fruition.
- Verticals (What Industries / Demographics Are You Targeting?)
- Having a product and solid marketing plan now days still isn’t enough for customers to come knocking on your door for what you’re offering, what the missing element is you ask? The verticals or demographics you are targeting! Specifically for organizations that operate in a B2B space, vertical or industry selection is crucial if you offer a more generalized service that can be easily integrated into a majority of companies. One of the best methods that still works today as it has in the past is good old fashioned market research. Allow your marketing and sales team to get their hands dirty and dig up information that will either ultimately confirm your value proposition along with vertical selection or alternatively force you to reconsider your go to market strategy.
- Referrals (Is Your Customer Experience Strong Enough To Warrant Customers To Turn Into Brand Advocates As Such?)
- Once you have almost perfected the previous pillars, referrals will be the main source of building long lasting and valuable relationships with clients and customers alike. Marketing and sales 101 is relying on social proof in order for us to make an “educated” decision when moving from the consideration to purchase stage of our buying process. By giving your clients a consistent experience the whole way through a decision making and purchasing process, you will unintentionally or intentionally (however you look at it) create brand advocates for your offering who will spread the good word of what your business does.
- Partnerships (What Companies Have You Partnered With That Can Help Your Brand Either Grow Or Gain Reputation?)
- This is more of a tactic once you have an established reputation which if done properly, can fast track growth to new levels. Partnering with companies that aren’t direct competitors but do however operate in a relevant vertical with a similar target market can be mutually beneficial for both parties. While increased revenue is the main potential standout of a successful partnership, co-hosting events and cross promotion across various digital distribution channels are also two more benefits of partnerships.
There you have it, simple, brief and yet still effective if applied properly. Work through this process in a logical and step by step basis while setting overall and smaller goals within each pillar as to how exactly you want to achieve success and how it can be measured within your vertical.