Growing Your Business

What next for your business after successful start up?

Are these your business concerns ?

  • How can I sell more and capture bigger market share ?
  • How can I grow my business ?
  • Where is the next growth opportunity ?
  • How to improve my business profitability ?
  • It this a good time going and growing in a slow economy ?

Large streams from little fountains flow, tall oaks from little acorns grow. ~ D.Everett, Columbian Orator 1797

3 factors to grow your business geometrically

Jay Abraham, the Marketing Extraordinaire has since 1980s’ outlined the 3 key factors to grow any business geometrically with huge success. This guidelines, which appears simple, has much depth for your company to bring the business to next level.

  • Increase your clients base
  • Increase your business sales value
  • Increase your clients repurchase frequecy

As you can see, a 10% increase of each factors will return your business of 33% increase in sales turnover !

Does your business have an effective and working strategy for each of these factors?

Is your business exploring the Asean Economic Community (AEC) opportunity?

Reality Check – is your company future business ready ?

You have a steady business but may find it hard to expand or grow it further. This is what we termed as “business bottleneck”. Is your business experienced one or more of these symptoms ?

  • Competition is increasing
  • Increase Sales, Marketing and General Admin expenses but sales remain flat or declining
  • Over stock inventory with inconsistent valuation
  • Operating profit margin and net profit is rapidly declining
  • Net cash flow is tigthening
  • Inability to service debt payments, delay in paying staff salaries and commissions
  • Vendors are unhappy with lateness of payments and ask for C.O.D term
  • Poor customers payment collection
  • Lack of accountability of management staff
  • Lack of accurate and timely financial information.

Let face it. Instead of point fingers to slow economy, there are areas of improvement within your company control. To stay in business, there are essential 8 drivers your company need to be good at, they are :

Business model

Does your business has a sustainable business model ?

Business strategy

How do your business formulate the strategy ?

Capital

Does your business utilise your human capital, intellectual capital and financial capital well ?

Distribution channels

How does your business distribute your product or services ?

Marketing

How effective is your business marketing efforts ?

Product or services

What are special or unique propositions of your product or service ?

Systems, Structure

Does your business has ready SOP to systemise the processes ?

Vision, ideology

What is your company real purpose in business ?

So it is a balancing act to make sure your company stay relevant, be respectable and hold good reputation in your related field of business.

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