According to a recent article written by Grant Cardone on Entrepeneur.com, there are many new businesses that stay in the ‘startup‘ phase for too long which prevents them from growing. If this sounds like your business, below are five steps that will help you grow to the next level.
1. Choose your battles
To quote Cardone: “When you are hunting big game, don’t swat mosquitos.” Don’t get distracted by smaller issues that can be left till later, but focus on the overarching business objectives – gaining customers and making money.
2. Get your business known
The biggest problem facing all startups is getting their business known, Cardone recognises. You need to be doing everything you can to get attention, which means focusing on the marketing of your business and extending your reach as far as possible. Be brave with your marketing tactics – as Cardone puts it, “Get attention. Get critics. Then get admiration.”
3. Develop a sense of urgency
Urgency is key to getting things done, Cardone says. If you have no deadlines or timelines for your business then you’ve got nothing to aim for. On the contrary, if you know you have to get something done by a certain time, you’ll work with urgency and do all you can to reach your goal, which increases productivity. Win a lot of races, Cardone says, and you’ll provide your people and company with momentum.
4. Alter your pitch
Think of how you pitch your company – “I’m a small graphic design company” will make you seem inferior and insignificant; “I am an innovative graphic design company like no other” makes you seem confident and unique. Know how to pitch your business and be prepared to answer questions – what can you do better, faster, and of more value than your competitors?
When you’re in the startup phase you’ll be taking on a number of different roles and doing most of the work yourself. It’s now time for you to start employing people so that you can focus on growing the business. And don’t have the mind-set of “employees cost money” – a lack of production and failure to grow your business costs much more, Cardone says.