04 Feb The 5 areas to focus on, to grow your business
These are the 5 key areas that you should be focusing on, in order to grow your business and become more profitable.
1. Your Customers
Get really clear on who they are and what they want. You probably think you already know this, but I’m willing to bet that you don’t. You have to get really specific here, and it’s more difficult to do than it sounds.
I know, as I make my clients go through this exercise and then normally end up challenging and challenging until they get really specific! They hate it at the time, but soon see the value in doing this.
2. Creating Value
How are you creating value for your customers? What are you really selling them? (Hint: it’s not what you probably think. For example, I’m not really selling business coaching, I’m selling the results of a more profitable business that’s less stressful for you to run).
Focus on the value you create, the benefits, and the results you deliver.
3. Doing What Works
May sound obvious, but how often do you get distracted by something new and ‘exciting’ to try?
Figure out what is already working well, and do more of it.
And in reverse, figure out what isn’t working, and stop doing it.
You need to stop making your business so complicated and look for ways you can simplify it.
Standardise, systemise, automate.
Watch out for things that were okay when you were starting out and had more time, but have now become a pain in the ass. Put in templates, processes, etc.
5. Your Strengths
And get help with the rest. Don’t spend your precious time doing the stuff you hate, and quite frankly are rubbish at. Get a book-keeper, hire a designer, take on a virtual assistant for the admin.
Focus your time and your energy on what you are great at.
Trust, me just by focusing on these 5 key areas, you will soon start to grow your business, become more profitable and less stressed about it all.