There is no such thing as SOMETHING FOR NOTHING. In other words there is no free lunch in life. Imagine hundreds of innovations and achievements that came into the world, all happen as a course of decision and actions been taken by man. Business growth is key.
You must make up your mind to work the talk so as to achieve worth while goals and plans. When one is truly ready for a thing, it puts in its appearance. What you do for a living you should make a giant strides in your field of endeavors.
BEGIN WITH AN IDEA
All achievements, all earned riches have their beginning in an idea. Ideas rule the world! Every business you see out there started as a seed; an idea., somebody conceive it, nurtured it and brought it to life. Unique ideas are the bedrock of great businesses, generating the business idea right for you is the first hurdle every entrepreneur must scale.
Our world is filled with opportunities to create values and translate them to wealth; these huge opportunities are something not too obvious and await our discovery by way of ideas to unblock them.
Everything that makes life worth living around us. Even the things we take for granted many of which we can’t live without, are products of men’s ideas, translated into reality through painstaking actions.
Everyone has great ideas, even the most silly and outrageous ideas can trigger something worthwhile if carefully cultivated and nurtured. Who would have believed that a machine as heavy as cargo plane could float in air amidst and against gravity. Who would have believed that we could hold a little device in Nigeria and communicate clearly with someone in China?
Now, you never thought of a chat App on your mobile phone but some people did that idea alone is worth $19Billion (Yes! That’s what facebook paid for whatsapp).
Starting small is a key secret of successful entrepreneurs. Becoming a micropreneur or small starter, instead of waiting all your life with bogus business plans and projections. You are better off starting from what you have and where you are, it has loads of inherent advantages.
Starting small will give you the advantage of low financial investment and overhead costs-rents. Telephone,electricity, and internet access are all minimized and can even part of your domestic budget, if the startup operates from your home while car running expenses are kept to minimum.
The low cost of a small start up can be advantageous as it is can be passed on to customers, and makes it easier to provide clients with personal service. The inherent personal touch that small businesses offer is a great incentives for repeat customers.
Since financial compensation depends on the productivity and overall business management of the business owner. This invariably spurs greater enthusiasm for commitment to work and can enable you to be more competitive.
Starting small does not mean that you limit your dreams; instead you create the vision, put it on paper in form of a business plan or in your own way but don’t wait until all the finance is ready and all the conditions are right and ripe because it may never happen.
Simply put; Dream Big but Start small from where ever you are or whatever you have, many big business started that way, if you continue to wait for the day the environment will be perfect with funding and other resources in abundance, you may never begin!
The Winning Business Plan For Business Growth
There are some people, who live in a dream world, and there are some who face reality;and there are those who turn one into the other.
In its simplest form, a business plan is a guide-a roadmap for your business that outlines goals and details how you plan to achieve those goals.
The primary value of your business plan is to create a written outline that evaluates all aspects of the economic. Viability of your business ventures including a description and analysis of your business prospects(customers).
If you’ve ever jotted down a business idea on a sheet of paper with a few tasks you need to accomplish, you’ve written a business plan, or at least the very basic components of one.
Typically, a business plan is longer than a list on a sheet of paper. Although it is possible -and sometimes ideal- to write your entire business plan on one page though this is just for internal consumption and not the one an investor will need to buy into your business or idea.
As its heart, a business plan is just a plan of how your business is going to work. How you are going to make it succeed.
Business plan should only become printed documents on select occasions, when needed to share information with outsiders or team members. Otherwise, they should be documents that you maintain on your computer . The plan goes on forever, so the printed version is like a snapshot of what the plan was on the day that it was printed.
Build A Business Growth Through System
Two seeds hit the ground at the same time and by combination of inexplicable reasons one seed germinates first and the second a few days later.
As they grow, the first seedling becomes taller, perhaps stronger and more resistant to weather conditions, it grows to become more gigantic and blocking of sunlight from the second seedling which eventually withers and die.
In real life, being first in the market place does not guarantee you will lead the category you represent. It’s only an advantage to do so and you can lose it.
Branding helps you establish a perception of leadership, but you must keep evolving to maintain same.
To succeed in the very competitive business environment, you must stand out starting from the minutest details; from your letter head, your business card, product or service packaging, your customer service and relationship managements and so on. Everything must reflect and radiate your brand essence.
For a startup entrepreneur, this is very critical especially towards your would-be investor and customers, it may be your personal brand which you’ve built over the years or the company or business you are about to bring to reality.
Managing Business Growth
There are no great limits to growth because there are no limits of human intelligence, imagination, and wonder.
Growing a small business come with both opportunities and challenges. The chance to become an industry leader is attractive, but it comes with the risk that demand may outstrip capacity. To avoid that pitfall, you need a strategic plan that’s backed by adequate financing, empowered employees, well-organized processes and the right information, technology, tools and an adequately prepared management.
But fast growth is a doubled-edged sword. The opportunity to expand and make more money will be lost if demand outstrip capacity. Leading to disgruntled employees, strained client relationships, and shoddy products or services. That’s why it’s vital for small companies to step back from the daily grind and ensure their fundamentals are right.
Often as an entrepreneurs, we become so focused on bringing the product to the market. Advertising the product, and selling at the same that we fail to grow all aspects of the business in unison. As a result, while the business attains its ever-increasing benchmarks in sales. It is growing upon an infrastructure that is not keeping pace with the growth of the business.
Flaws in management systems slowly begin to creep in. Quality control is not in sync with the growth and eventually a tipping points is reached in which these flaws. Caused by the failure of the business to grow its infrastructure at the same rate as sales and advertising. Because the fast growth can kill your company if it’s not well managed. You have to define your growth objectives, and then decide how much growth you can support and how much financing you need to support that growth.