The 3 pillars that underpin business growth
Growing your business can either be fun and incredibly rewarding or come with a whole lot of heartache and stress. The differentiator lies in the pillars you have in place to support that growth.
But what are those pillars exactly? What fundamentals do you need established before you look to expand your enterprise and take it to the next level?
Here, we look at the three pillars that underpin business growth, including:
- The importance of a plan, and how you can shape it to prepare for expansion
- Goal setting and how it allows you to envisage then implement the right type of growth
- Systems and procedures and why they’re essential for smooth and stress-free expansion.
A well-structured plan
A well-structured plan serves as a roadmap for your business, guiding you from where you are now to where you want to be.
The plan should not only define the purpose of your business but also outline who your ideal client is and everything they desire from your products or services.
A comprehensive plan makes it easier for potential clients to choose you as their preferred partner.
Setting smart goals
Having a clear goal is vital for staying motivated and focused as you work towards business growth.
By setting SMART goals – as in goals which are specific, measurable, achievable, relevant, and time-bound – you ensure that you have a destination in mind.
These goals provide the inspiration to keep moving forward at a pace that aligns with your plan. They also help you envisage that growth and consider all contingencies and resources needed to achieve it in a sustainable manner.
Effective systems and procedures
Systems and procedures form the backbone of any successful business, especially when it comes to scaling and growth.
It’s crucial to have the right systems already in place to ensure you are capable of handling the increased demands that come with growth.
Scaling without these systems leads to distractions and can hinder your progress. By investing time in refining and improving your systems, you can focus on business growth without diverting attention to troubleshooting.
These three pillars—well-structured plans, smart goals, and effective systems and procedures—are essential for driving business growth.
A solid plan provides direction and clarity, while SMART goals keep you motivated and on track and effective systems ensure smooth scaling while avoiding the pitfalls that can come with rapid growth.
By understanding and implementing these pillars, you can make the journey of growing your business both fun and rewarding.
- [00:25] The three pillars of business growth
- [01:10] The importance of a business plan
- [03:23] The role of goals in business growth
- [05:04] The necessity of systems and procedures
- [06:22] Making business growth fun