Growing a business takes several important characteristics that require a dedicated leader driving it at the helm. These characteristics include vision, change and people. An effective leader will also engage others in the business to embrace and adapt to change as growth continues.
- Vision: First, plot the course for where the business should go in the short-term, and the long-term. This includes knowing who your customers are and what they are likely to demand. Without a clear vision, you will be steering your business in a random direction, which could completely miss your customers.
- Change: When it comes to growing any business, change is essential. Those that do not change and adapt to new ways of doing things will fall behind. Understand what needs to be put in place to grow the business. You might need to source better business operating systems to streamline this growth, or change a few internal business processes, or rethink how you calculate your hourly rates.
- People: People are essential for the growth of any business. But not just any people, you need the right team in order to move your business forward and reach the vision you have in mind. However, you should understand that you will need to guide and coach the staff into changing their mindset and adapting to these growth changes.
This article is a general information sheet and should not be used or relied upon as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice. Errors and omissions excepted (E&OE)