Every week, there are glitzy headlines from blogs all over creation that promise to turbocharge your business growth, seemingly overnight. In the real world where you and I live, growing your business is more complicated, requiring discipline, customer insight and sound strategy.
There are no magic bullets for growth. However, there are five key areas which any business owner must address if scalable profitable growth is to be achieved. More to the point, you need to attain mastery of each of these areas, either by gaining it yourself or working with someone else (an agency, coach, mentor. etc) who can provide that mastery to you.
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- Message Mastery. You have to look at the world through the prospect’s eyes as you develop your key promise – what is called the Value Proposition. How does the prospect define their problem? How do they craft their solution to that problem? What is their “buyer journey” from start to finish? Armed with this information, you craft your solution to map to how they solve their problem. It’s not what you do that matters. It’s what the prospect gets that matters.
- Planning Mastery. The lynchpin of the entire growth process is a well thought out strategic plan. This starts with defining the mission and vision for your business,. Then you outline three-year goals, key strategies, annual objectives and the key actions required to achieve those objectives.
- Alignment Mastery. It’s important to have everyone aligned around the key aspects of the plan regardless of the size of your team. Everyone wants to make their best contribution to success, and so everyone needs to find their contribution in your Strategic Plan.
- Implementation Mastery. This is where the rubber hits the road. The plan is worthless until it’s converted into action and results. Schedule weekly or bi-weekly meetings with the team members who are responsible for various aspects of the plan. Those are a good way to make sure you are on top of progress and therefore able to react and make changes to whatever happens.
The reason for the three-year plan is to have exciting long-term targets to aim for. Having those aggressive three-year goals keeps you motivated and gives you the perseverance to overcome the setbacks that will occur along the way.
The most critical piece of the plan is Strategy which defines how you will maximize your limited resources to achieve a sustainable competitive advantage. From there, you can define annual objectives and all of the key actions and tasks necessary to achieve those objectives.
It’s difficult to find shortcuts to create a solid platform for growth. You won’t be successful growing your business if you don’t understand the market, or if you don’t have a compelling promise to the customer. Or if everyone in your company is working on their own thing and wasting time and resources. Or if you don’t execute well. In other words, you have to develop (or get) mastery in all five of these areas to ensure that your business can grow in a scalable and rapid fashion.