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How to scale your business successfully in 2022

By: Granger Forson owner of BizSmart®Gloucestershire 

by uma
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Looking to scale your business in 2022? It’s never too late to reassess your business growth approachand identify new tactics to accomplish your goals. 

By creating a resilient and robust business strategy to act as your roadmap throughout the months and year ahead, you can scale your business to new heights. 

Here are some key strategies that will get your business on the right track to not only grow, but to flourish, in 2022. 

Set clear and actionable goals 

Growing a business successfully requires deliberate planning and goal setting. Your company needs to have a clear set of consistently updated goalsto push it in the right direction as you grow.

Before you get started, it can help to familiarise yourself with the concept of SMART goals—an acronym for Specific, Measurable, Attainable, Realistic, Timely. This approach is a time-tested technique for developing goals that innumerable companies have found effective.

Once you have your goals established, create an action plan which includes specific tasks for specific people, ensuring individuals have ownership of particular pieces of the plan, and describe the final destination so your employees always know what they’re working towards. 

Don’t let your competition distract you

On your business growth journey, you can learn a lot by keeping an eye on your competitors, however it’s important to not let your competition distract you. 

Focus on developing your strengths, being true to your product or service delivery and delivering excellence to your customers, not on reacting to the strengths of your rivals.

After all, comparison is the thief of joyand, whilst it’s okay to be aware of others in your industry, the more time you spend comparing yourself to them, the more time you are taking away from yourself to create good work. 

Increase value for current customers 

It is common for a business to focus its efforts on attracting new customers when looking to grow, however it’s important not to forget about current customers. Happy customers lead to business growthand increased turnover, and these are the driving elements of success. Therefore, you should always explore opportunities to extend the value forcurrent customers. 

Consider ways to add new products that complement a customer’s previous purchasesor try increasing service prices in exchange for additional featuresor anything else that your current customer may find valuable. You should also ensure your business has fantastic customer service and an excellent overall customer experience, as this is what will make your customers loyal to your brand for years to come. 

Engage your staff 

Employee engagement has a huge impact on business growth, as a disengaged workforce can negativelyaffect productivity, customer service levels and retention.

In contrast, employees who feel engaged and inspired at work are more productive, so it’s crucial to always keep them connected as much as possible.Whenever feasible, give your staff updates on the organisation’s financial performance and long- and short-term goals, and explain what this information means for them and their jobs. 

Keeping your team in the loop will help them feel like a valued and important part of the company, and this will ultimately get them on board and motivated to help drive the business’ growth. 

Make the most of peer-to-peer support 

Running a business can be a lonely place and trying to scale your business on your own can be especially isolating. However, by regularly meeting and engaging with other likeminded business owners who you can learn from and bounce ideas off, you will feel less alone on your business growth journey. 

‘Peer-to-peer support’ networks bring together senior leaders who share similar job roles but work in different sectors, and this encourages dynamic thinking and provides fresh perspectives on ideas and challenges. 

Each session offers you the chance to ask questions, seek advice, find out about others’ experiences, and share your fears, concerns and successes. This will provide an invaluable forum where you feel safe and able to express yourself in a non-judgemental environment where everyone is there to help you and one another.

Conclusion

Setting your business up for long-term success will ensure your company thrives well into the future. However, it’s not always easy to ignite growth — especially if you are not sure where to start.

While you can’t reach the top overnight, by implementing the techniques mentioned above,you can position your business for stable growth and turn your ambitions into reality.

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