Before concluding that there is even a chance to double your business in this time of economic uncertainty, let me ask you a few questions:
- Do you want more profits and do not know how to achieve it?
- Do you need to generate more sales now?
- Is the number of issues to attend to growing and also the pressure?
- Do you work more, but earn less?
- Are you worried that your competition is taking your customers?
- Does your work team have more “how not” than “how yes”?
- Do you spend more time worried and frustrated than celebrating your successes?
- Would you like to dedicate yourself to strategy and forget about putting out fires?
If you answered more than five of these questions with a “Yes”, then the problem is not that you believe that it is impossible to grow in this 2020. There is a more serious problem and it is the survival of your business. Therefore, it is important that you become aware of what is happening to you.
Paralysis, that’s the word that reflects the stance of today’s business community. It is natural, who would not be paralyzed in the face of an uncertain economic outlook ? Especially when it comes to business owners – the weight of falling sales, accounts receivable and a payroll and fixed expenses payable is very large. And this paralysis brings me back to what I experienced more than 10 years ago, with the famous crisis of 2008 .
Some are very young, but there will be those who remember how the perception of risk soared and returns on investments fell. The consequences were swift and soon the business owners were faced with consumers without purchasing power and unattainable or impossible to pay credits.
And we return to paralysis. Most business owners decided to wait for the waters to calm down to make decisions; however, the price was high and many did not have time to survive. Many learned their lesson and it cost them their wealth.
Today we are faced with a similar environment and there is no conversation that does not bring up issues such as lower economic growth, the decrease in consumer demand, and the risk of investing.
However, within the universe of thousands of business owners who lost everything, there were those who “magically” had accelerated growth. And it’s not that they were special or very lucky or had more money to invest regardless of the results; rather it had to do with a change in its growth strategy.
The change that these business owners made was to align their growth strategy to a market in full uncertainty and took advantage of the paralysis and lack of strategy of their competitors. This gave them visibility in the market and separated them from those who were only waiting for a change in the conditions of the economy in order to grow.
Stephen Covey, author of the best-selling The Seven Habits of Highly Effective People , says that all success begins in one place: your mind. That is, to achieve everything you set out to do, you need to have a goal before starting. I call it mindset , which means having a clear vision of what you want before you start – just like in a race where you know where the goal is.
So when I listen to business owners who are in difficulty, I confirm that in nine out of 10 cases their problems are due to ignoring their role as entrepreneurs. Because it is a universal truth that business owners are very good at doing business operations; however, no one has taught them the strategic management to successfully grow a business.
Yes, these classic business owners are highly operational and get satisfaction from their sweat. The danger is that by not knowing about business management, they operate incorrectly as self-employed and not as entrepreneurs. Because avoiding the day to day does not imply success; Rather, it denotes a lack of knowledge about where they want to take their business. They do not use the mind and that will condemn them to repeat their mistakes every day.
Therefore, if the business environment changes, you cannot wait to see what happens – or worse yet, to see what your direct competition will do – to make business growth decisions. What you will surely need to do now is to assume that you are the owner of a business that needs strategic thinking to grow rapidly, even in times of uncertainty.
The good news is that the uncertainty does not come from outside, but from yourself. Imagine that you are at kilometer 18 of a 21-kilometer race and the runners lose the route or stop like that. Surely you wonder why they stop? Have they gotten tired? Will they know where the goal is? Who cares! As long as you know where to direct your steps, I assure you that a medal will wait for you. The same goes for business.
Now that you know that it is possible to double your business, even under the circumstances of this 2020, it was time to share the four keys to double growth in uncertain environments:
Make a strategic plan. If the certainties do not come to you, it is best to be clear about what you want, when you want it and how you want it.
Gain efficiency. Implement processes that lower the cost of your product or service while adding greater value to your market.
Make yourself visible. If consumers are not buying, with an intelligent and aggressive Marketing plan that generates great traffic of prospects, you will be their first option.
Be different. Stand out from your competitors as much as possible and design attractive strategies that generate profits quickly.
So if right now the uncertainty is stopping the growth of your business, it is time to assume your role as an entrepreneur and define your strategy to grow twice. And if in this “business career” you feel completely alone and do not know where to start to make that change of mindset that your company needs, then it will encourage you to know that there are specialists ready to accompany you and show you proven strategies to accelerate your business with predictable results.
Using a methodology with predictable results, it is possible to guarantee accelerated growth that translates into businesses capable of producing millions. Therefore, if you are willing to accept the challenge of growing twice, then I recommend that you seek the accompaniment of specialized coaches who guarantee results.