MANAGEMENT TRAINING ADVICE
How To Grow Your Business
Written by Fergus Doyle
The secret to growing a successful business is that there is no secret. That might sound
very strange, but the simple fact is that those who create a successful business that grows
year-on-year follow a simple set of steps, they do it continuously, they measure their
progress, they adjust the plan when needed and they do it relentlessly. The statistics
suggest that less than 10% of businesses reach this stage. I have found that the businesses
who do not achieve this are missing a few key things. They have no plan. They don’t
measure or review their progress. They never adjust their direction. And finally they never
ask anyone outside their business for their opinion.
What’s Your Plan?
I’ll bet you’ve had lots of them, they’re put together in your head and almost always stay
there, most likely developed when you’re between doing things because you never have
time to take a few hours out and develop a really solid plan that might have a chance of
success. If you are serious and want to grow your business STOP! Put 2 hours in your diary
right now for later this week to start developing the plan. A 1-Pager, anything longer than
that will never get put into action. If you’re thinking that you don’t have any time then fine,
but stop kidding yourself about growing a business. Having no plan to guide you in growing
a business is like driving to somewhere you’ve never been without a map.
Measure, Review, Adjust
So you now have a plan, or you’ve always had a plan. How many times then have you ever
taken this mythical plan out to review its’ progress? Having the plan is only the start. You
must review your progress on a continuous basis. You will have to adjust the plan, you’ll
have to change it, because no plan is never perfect. This requires discipline. All businesses
who have successfully mastered this, measure key indicators like sales and costs. They
have monthly accounts so they can review their financial performance. They don’t run their
business on a cheque book and a bank balance. They know when turnover is up or down,
what causes it or they go find answers. They don’t let the economy decide whether they
have had a good month/quarter/year. They drive the company bus, they are not a
passenger on it.
Be Relentless
You must plan, review, adjust, execute. These are the steps. You must do this continuously.
This has to become a habit in running your business. It will become tiring so you will need
help along the way, maybe one of your managers, maybe a partner but someone must
accompany you on the journey because you will need help, encouragement, a sounding
board. The relentless pursuit of your goals will result in a positive outcome, but it won’t be
easy and it won’t happen by itself.
Summary
None of the above is easy, but then again having a business that doesn’t produce enough
sales or profit isn’t easy either. In fact it’s miserable. You might say “I’ve had plans before
and they didn’t work”, and you’d be right. But was it the right plan and did you implement
it, were you relentless or did you have help along the way? You now have some of the tools
to help grow your company, it’s up to you to use them.
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