Attaining Explosive Growth

Double-digit growth is something that many CEO’s dream of, and is often unattainable to all but the most innovative or luckiest of companies.

For SME’s in their starting phases, however, explosive growth is a very real possibility. The trick, of course, is maintaining it. Here are practical tips to get you started on the road to the Fortune 500:

Give yourself a raise

When it comes to product pricing, many entrepreneurs place a lower cost on their offering than what the market will bear. So it’s important to first do a price analysis on your pricing structure. In doing so, keep the following pointers in mind:

- what it cost you to provide your product or service

- pricing options such as flat rate vs hourly; subscription based, or volume pricing

- the price of the competition and its prices; and

- the strength of the market demand. Chances are, after a thorough examination, you will find that there is a fair and reasonable cause to increase your prices.

Do a marketing action strategy

Never underestimate the value of marketing;  the process by which you acquire and maintain customers. Marketing is there to let your customers know about you and your product, rather than just trying to sell it to them. You don’t go from meeting someone to having them fork money over all in the same instance. Instead, you should provide information that will help them decide which product to purchase in the market.

A focused marketing plan that identifies your ideal clients, what their problems are, and how you can solve those problems, will result in increased profits for your company.

3. Trust your intuition

“A Woman’s Intuition” has been dubbed as the 6th sense. A woman’s intuition is those instinctive messages women get deep down when something feels right or it feels wrong. When it comes to men, it is known as gut feeling. Women should develop and trust their intuition in business. Don’t second guess yourself.

4. Join a networking organization

Networking is the lifeblood of entrepreneurship. Joining a membership organization is a great strategy when you are looking at ways to grow your business. An organization membership can provide tremendous value to your company. It can bring business to you. You can find mentors and experts to provide valuable advice. The commodore and motivation is priceless. And you can find success partners to hold you accountable for your goals.

5. Identify your strengths and hire out your weaknesses

Entrepreneurs start a business because they have a particular expertise or knowledge that can help others. However, small business owners quickly discover that there are many tasks to be done that fall out of their current skill set. So they end up wasting valuable time and energy trying to learn what they don’t know. Unfortunately, this feeds fear and leaves a feeling of incapability. A better approach is to take on those tasks that you have a passion for and delegate those tasks that slow you down. Working your strengths will give you confidence – a confidence that your customers and potential customers are sure to take notice of.

1. eHarmony Login says:

   January 19, 2012 at 7:09 am

   Attaing explosive growth in my own opinion can be done through a lot of hardwork, however sometimes it’s by luck.

   Reply