When you know your business has the potential to grow, but you are not exactly sure what to do next, you don’t have to worry. We have a few ideas to help you see things differently and help small business owners approach their business in ways that often uncover new opportunities. In this section, we look at a couple of things to help you kick-start your growth.
The unavoidable truth of business ownership is the business owns you. It takes a personal transformation by the founder to break free.
Many consultants are exclusive to one client at a time. This is a bad business model for both the consultant and the client for a variety of reasons.
Small business entrepreneurs can compete with much larger companies by rapidly tweaking their business model and providing a better customer experience.
Maximize small business success with disciplined financial records and insightful analysis. Navigate the market, optimize resources, and chart a prosperous future.
Too many business owners fail to focus on the one thing they can be better at than any other person. They should take a lesson from the hedgehog.
Also, too many businesses change strategies too often. To achieve success, they have to stick with one thing and keep up the momentum.
Many businesses on a path to extinction or looking for a new idea can be well advised to look for ideas outside their industry.
In some cases, the best ideas come from using your peripheral vision or listening to the marketplace.
Asking a different question can often help small business owners uncover ideas they may have missed.
And they should never have just one answer to a problem.
Mentally scaling an idea may uncover many new ideas.
And sometimes, the best ideas are generated simply by writing them down.
Time is more valuable than money since you can’t create or earn more time. So, looking for time-saving ideas usually starts with understanding what your time is really worth.
Maybe the next idea will come from thinking about how a business’s small size can be used to its advantage.
Often, business owners are just too close to the situation to see some really obvious solutions, so consider asking third parties outside your business for their opinions.
When it comes to advice from others, experience matters.
Some great ideas can come from employees too. However, a business may need to stimulate its employees from time to time to think outside the box by making sure they are never too comfortable.
Automation is changing everything and may just be the place where the next idea comes from.
Just as in the book/movie “Money Ball,” business owners too often lose track of the things that are really important in making the business a success.
Business owners aren’t driven by greed. Profits are critical for an organization to stay in business. Having high profits is not being greedy.
Maybe the most valuable attribute of a business is the owner’s charisma. If so, the business should consider making the most out of it.
