Whether you are a seasoned business owner or just starting up it pays off to have clarity about your most profitable and least stressful options to build and grow your business.
It is important to agree first, that there is no best way to growth!
Every business owner has a different pathway to bigger revenue, healthier profits or bigger size of business, based on their starting point, goals, what their business capability and capacity to deliver is, as well as the personal aspirations of the owner.
If you started your business to make money and/or make a difference, rather than get away from your boss and the big office politics, you have probably already tried a few different ways to grow.
Maybe you’ve tried some advertising through social media, partnered-up or “bought a book of clients”. If you haven’t seen the results you wanted, it’s possible that you’ve attempted those growth options/strategies based on their feasibility – “can it be done”, rather than on their viability – “will it be profitable and sustainable long-term”.
Whether you are doing it yourself, or using business/marketing/ advertising advisors to help you, it is useful to use common sense decision making tools to make an informed choice, before you hand over the execution to the external consultant.
They may advise you in favour of their solution, which is human nature – think of financial advisers, brokers, sales agents and service providers with one or many products – naturally they will lean towards their most profitable product and service, wouldn’t you?
So, it will help if you have a system to make an objective decision.
So here is, a structured way to help you assess the viability of your different growth options, to minimise the risks and every option increases your chances of success.