Like almost all important objectives in a company, it is essential to establish a series of goals that help us achieve them. When we talk about profitable growth, this is no exception, therefore, here we help you with ideas of small goals that will help you obtain profitable growth in your business.
Setting realistic goals is one of the first steps, goals that can be achieved in the short term and that stimulate the operation of the company. Some of these goals can be small, or they can be big changes that alter things that have been done. But everything must contribute to growth.
Next, it is important that you learn to distinguish between good growth and bad growth. Bad growth does not produce profit. Good growth generates profits, it is harmonious, it is differentiated and it is sustainable over time.
The task of the entrepreneur who seeks profitable growth must be taken with enthusiasm and energy because there are many tools that he has to learn to apply to achieve his goal. I mention some:
• Generate an environment that stimulates creativity within the company that promotes increases in sales, without having to increase fixed costs or invested resources. This is achieving higher sales productivity!
• Modify budgets so that they are growth-oriented budgets that generate discipline in the company and a correct allocation of resources.
• Obtain greater knowledge about the true needs of the client and the market segment being served, looking for new ways to satisfy them.
• Find out how to offer customers a compelling reason to buy that makes a real difference with the competition.
• Create a strong results-oriented team spirit among the different areas of the company: production, sales, finance, human resources, etc.
• Stimulate the generation (select, nurture and launch) of ideas that add sales in the short and medium term.
• Create the awareness and disciplines necessary so that there is greater control over the costs of each product or service, focusing the analysis of each product or service on its individual profitability.
• Develop programs that better measure, understand, control and manage fixed costs, preventing them from growing when it is not really essential, but on the contrary, trying to reduce them without affecting operations.
The day to day of companies is hectic and much of that frenzy occurs because the energies are focused on generating more sales; Well, the same must be the management to recover the collection of those sales. The entrepreneur must also create a new force that moves the company, the force that seeks profit growth, profitable growth.
Growth is the force that fuels motivation in people, as well as in companies.
If your company is not generating the profits you want, if you think you can get more sales and more profits, if the moment your company is going through or the economy does not allow sales to grow, but you want your profits to grow, you should know that profitable growth is possible