Business Growth Planning: 10 Questions to Ask to Grow Your Business
Are you ready to grow your business?
Even if you have defined objectives, use your answers to these 10 questions to help you fine-tune your efforts and grow your business successfully.
To help you stimulate your neural pathways, and hopefully create an idea or two, the following thoughts, are offered, for your consideration....(more here)
This article is courtesy of Business Mentoring Noosa.
80/20 Decision Making for Growth
It's a basic rule of time management, for example, that we should work on the vital few decisions that are the best use of your personal time.
The same thing applies in your business.
Business operators are constantly making decisions - large and small.
The 80/20 Rule suggests some tools that might help with faster, better, smarter decisions....(more here)
Boston Consulting Group Growth Matrix
The BCG Growth/Share Matrix is a quick way to visualise what activities are going to be the most productive and which are dogs best got rid of.
The BCG Growth/Share Matrix was developed by its namesake organisation - the Boston Consulting Group - in the early 1970's and was quite a breakthrough in the way it provided a visualisation of what areas a company should operate in and which it should get out of.
It was originally used to visually display growth potential and market share options for existing business operations....(more here)
9 Essential Tips for Fast Growth Businesses
Fast Business Growth Is a Great Thing But It Can Be Tricky!
Fast growth, in and of itself, can help motivate employees and help project a very positive image to customers.
Sustaining fast growth can be tricky, though. Preserving cash, keeping people motivated, and continually finding more office space are just a few of the issues that you will encounter.
The further in advance you can plan and prepare for such challenges, the more likely it is that you will be able to minimize any negative effects....(more here)
80/20 Staffing for Growth
Labour costs are typically 50-70% of your operating costs so anything you can do to improve labour productivity is a good thing.
The 80/20 Rule can be applied to the issues around staffing so that your business can operate as effectively as possible.
The 80/20 Rule would say that about 20% of your people are extraordinary and the rest are in various shades of productive ‘grey’.
Consider the impact the 15-20% of poor staff are having on your company's productivity and staff morale....(more here)