Is your business stuck in a rut and not growing as fast as you would like? Instead of waiting for something to happen, as a business owner, you need to take the initiative and attempt to transform your business.
Transforming your business doesn’t mean you need to employ expensive consultants to analyse re-engineer your processes and technology. You can transform your business with leadership, direction and passion.
Here are 4 ways to help you start the transformation process.
“Don’t let the noise of other’s opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.” -Steve Jobs, co-founder of Apple and Pixar
Dream of what you want your business to become without limits. No matter how far fetched the idea may sound, if you believe in it, then go for it. Many of the top companies today started as just an entrepreneurial dream.
Define Your Mission
Write down what your business will look like in five years and its structure, location and size in terms of employees and turnover.
Create a one-page business plan, split the paper into for sections and write in the sections.
- Where your business is now.
- Where you want it to be
- What you need to do to get what you want
- Who will do it and when
This should make the task of transforming your business seem more tangible.
Think outside the box
Now that you can envisage where you want your business to be in the next five years you now need to build upon this by thinking how you can expand your current business to get where you want to be.
– Do you need new products or services
– Move into different markets? For example by expanding into the consumer market instead of focusing on the B2B market?
– Can you expand internationally?
Make It Happen
Implementation is where most businesses fail. The key to transforming your business is defining what you need to do and planning when it needs to be done and by whom. Build a detailed project plan and map out all the deliverables, milestones and tasks required to achieve your goal. This should be reviewed weekly with your team.
Be aggressive and take calculated risks in order to achieve your goals as you will have to overcome many obstacles.
Do not be afraid to build partnerships and strategic alliances with other like-minded people and businesses if they have the skills you need in order achieve your ambitions.
Make Your Business A Success
The key to a successful business can be found in our Business Success Formula. If you structure your business using the Business Success Formula as your blueprint you will decrease your chance of failure significantly.
We assess your business and implement our business success formula in our business assessment service The Business 360. It provides you with all the information to 10x your business in a matter of weeks. You can check it out here.