To grow your business, it might help you to think like an athlete…
Hall of Fame football coach, sportscaster, author and motivational speaker, Lou Holtz, famously says:
“In this world, you’re either growing or you’re dying so get in motion and grow.”
Sure, this quote might have been part of any number of Lou’s motivational talks that led to his football championships … but, when you think about it, itholds a certain truth that also applies to life and business.
In fact, I’ve issued a challenge to a number of successful entrepreneurs to give me one example of a living thing (business or life) that does not start to die the moment they’ve stopped growing … and as of the time of this article, no one has ever been able to provide me with an example!
That brings us to the conclusion that:
The moment you stop growing your business – your business starts to die!
Your business will become less competitive, lose customers, reduce profits and repel high-quality talent.
And, yet, most small business owners have yet to instill a strategic or business growth mindset as part of their daily operations.
They either don’t know how to do it … or they got fat and sassy in the ‘good times’ and foolishly believed that there was no end to their winning streak.
And for those entrepreneurs that want to grow their business, they often make the mistake of believing that the only way to grow a business is to increase the number of new customers – but they’re ignoring a plethora of extra sales and profit opportunities by not understanding their options….
The GOOD news is that there are 3 ways to grow your business … and only 3 ways.
They are:
- Attracting more new qualified customers;
- Increasing the size of each transaction (quantity and price); and,
- Multiplying the frequency by which your existing customers do business with you (additional products, services or even offering various products made possible by joint venture partners).
Taking the time to investigate and explore each one of these options will not only allow you to grow your business for increased profitability – but it will put you in a position to dominate your marketplace by developing a strategic and business growth mindset that very few of your competitors have …
So, in the words of good ole’ Lou, get in motion and grow!
Sincerely,
