THE ENTRECODE BLOG
Insights into Growing a Business Successfully
I have been working with 6 businesses in Humberside who are wanting to achieve significant growth. What did we learn from the process?
Firstly, few had a clear strategy for the next 3 years i.e. mission, vision, values, market choices and product focus. Secondly, none had recently completed a customer perception survey and when they did it provided real insights into what they needed to do to build competitive advantage in order to grow profitably.
Finally, a real big issue is that too often businesses are highly dependant on the entrepreneurial owner. The owner becomes so busy working in the business, often trying to do things they are not good at, which means they have little time to stand back and work on the business to help it to grow. The principle here is that they needed to let go to grow.
A key priority for most was to get a team of people around them to free them up to grow the business. The key principle is same values, complimentary skills.
Having sorted these issues out the businesses are now starting to flourish and grow.
Free toolkits are available to help others undertake this work. For more information see www.davidhalluk.com and www.entrecode.co.uk
