‘How do I grow my business’ is a fundamental question for any dynamic enterprise. Scott Saklad, CEO of the Jonas Group, takes a tech-specific look at the answers.
The short answer is to first ensure that your organisation is operating at peak efficiency, to its full potential and is capable of making the most of market opportunities.
Often what’s required is nothing less than a business re-boot, which will entail a detailed examination of your entire business operation to see what works and what needs attention. However, a good way to start is to initially focus on five key areas.
Be Decisive about Decision Making
Running a business means decisions, lots of them – strategic, tactical, reactive, proactive, go/no go etc – for a small dynamic enterprise it should be easier to make rapid decisions but often this is not the case! Lack of clear decision-making can severely hinder your business leading to lost opportunities, lower customer perceptions, bad service, confusion and loss of direction.
So, why not:
Clear Your Vision
Remember your vision – the reason you started your enterprise and why you get up in the morning? Sadly, visions like good intentions often get mislaid when you are up to your neck actually running the business.
But no enterprise can move forward if there’s not an underpinning vision to guide the way – so dig it out, dust it off and always keep it in sight.
Revisit your vision:
Streamline your operation
Continual product/service diversification and energetic marketing/sales activity are fine but sustainable and profitable growth relies on a strategic outlook underpinned by a finely tuned and streamlined business operation.
As a tech business develops it needs to reflect on what exactly what it does best, where its most profitable market opportunities are to be found and what, through a combination of skills, expertise and resources it can best offer its customers?
Audit your activities & offerings:
Add real value to your product & services
Complacency is a business’s greatest enemy – sales are good, your products and services meet customer expectations and new ideas keep coming – what’s not to like?
However, you can always do much more to enhance your customers’ experience. Adding value will increase sales, boost customer loyalty, encourage repeat business and increase profits.
Consider adding value by:
Find, Identify & Exploit Market Opportunities
New market opportunities are quite literally the lifeblood of any successful enterprise and increasingly vital in the dynamically competitive technology marketplace.
Try taking your organisation beyond its comfort zone – be calm, observant, flexible but ready to move quickly and decisively.
Hopefully you already have an effective marketing stance and mechanisms in place? Now is the time to build on this by opening minds to possibilities, exploiting/creating openings and constantly exploring new ground.
Think on your feet by:
The tips outlined above are by no means exhaustive and certainly don’t cover every aspect of a comprehensive company re-boot but hopefully they will help you to stop and think whether your tech business is developing along the right lines for future, sustainable growth.
To learn more about successfully scaling a business, come along to one of The Jonas Group’s free seminars –12th December in Reading or 14th December in London – for more information visit jonasseminars.com