Business Growth: What’s Stopping it?

I have had a Christmas cactus for years.  For many of these years it was a few strands of cactus leaves.  Healthy, yes, but growing slowly.

Then I moved to a new house, and put it on the kitchen table by a window with a western exposure.  Well, the plant lapped it up.

It now has a wonderful mutiplicity of strands, it’s lush, and blooms every year at Thanksgiving.  I have had to repot it.

So, how do you kickstart business growth?  Well, first you need to understand why it isn’t.  There are many possible reasons: the company offers an ‘also ran’ product or service; the market doesn’t care about the company competitive advantage; your market is too small; the market doesn’t know about what the company offers; it’s too difficult to deal with the company; it takes a long time to develop new products; financing is tight.

The list goes on and on.

How do you figure out what the company needs for business growth?  Look objectively at the possible reasons.  Try to see the company as your market or company sees it – this will often require market research.  If objectivity is difficult, bring in outside assistance such as a trusted advisor, business coach, or consultant.

I’d recommend reviewing the opportunity of more business growth in some detail once a month in some detail, preferably with a small team of the key players.  The team can track progress, new information, generate more effective approaches, and ensure there is focus on the critical issues.

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Tove Rasmussen, Business Coach and CEO of Partners Creating Growth, offers business expertise worldwide to help organizations grow, and disadvantaged regions thrive.

Photo credit: Nicholas T.

 

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