Starting a small business is hard enough, but this is one tiny battle in a big war. There are other battles ahead, including a big one; growing your business. You’ve sewn the seed of success, now you want it to blossom into something gigantic.
We all want to make our businesses bigger and better, but just the thought of expansion can be dizzying. Bearing that in mind, I’ve come up with something I like to call the three A’s. Do each of these three things, and you will grow your business successfully.
The first concept I want to talk about is aspiration. If you don’t aspire to reach certain goals or do certain things, your business will never grow. It will stay in the same place as there’s no aspiration going forward. You must approach your business with the mindset of wanting to achieve big things. How can you do this? By coming up with some long and short-term goals. These give you things to aspire towards, and will immediately stop you from settling.
The second A centers around this idea of analysis. The majority of consumers don’t realize this, but businesses are constantly conducting analysis behind the scenes. Every little aspect of your company needs to be analyzed to get the best results. Nowadays, we’re lucky in that we have software like SAP Business One to help us analyze all the different parts of our business. From the financial side of things to employment, everything needs to be put under scrutiny. If you want to grow a small business, you must analyze your key areas and see where your strengths and weaknesses lie. Are you making enough sales? Is your inventory too large and draining your budget? What areas of your marketing strategy are pulling in the fewest customers? Analyze everything and patterns will start to emerge. You’ll soon have a complete list of strengths and weaknesses to look at. Strengthen the weaknesses and solidify your strengths.
Finally, we have adapt, the third A. Adapting means you’re always ready to change and do things differently. This is a key part of growing a business as you will face situations where you can either adapt or stick with what you’re doing. The worst business owners are people who are too stubborn to adapt their existing models and change the way they do things. You must adapt to different market conditions and trends to make your business successful and ensure you make the most of what’s out there. A great example of this is social media and the business world. A decade ago, maybe even less, barely any businesses used social media religiously. If they did, it would be quite professional and mainly used as a customer service portal. Now, the trend is to be very active on social media and engage with audiences. Businesses are less strict and professional, and more laid back and friendly on social media. Successful companies adapted to this change and have seen more followers, and more success for their business.
In the end, growing a small business is simple. All you have to do is follow the three A’s, and you will start to see improvements.