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3 Tips for Small Business Growth

Often business owners ask themselves, what small businesses that achieve sustained growth do differently from those that have slower growth? No magic pill, one size fits all, or cookie-cutter system can answer this question. However, here are three areas that growth companies concentrate their efforts to overcome the challenge.

  1. A Strong sense of purpose

Most leaders that have achieved growth discover that it takes more than the promise of increasing financial reward to fuel their aspirations and ambitions. They find a higher calling than simply the pursuit of “more money.”

  1. Outstanding market intelligence

The ability to first recognize, then adapt, to fundamental changes in the marketplace. Many times, small-business owners become too myopic, seeing only a limited view of the markets in where they compete. Growth leaders see the bigger picture.

  1. Active growth planning

The best predictor of whether a business will grow. To be effective, a plan for growth does not need to be overly formal or complicated. However, needs to be written, well-communicated, and regularly updated as the need for the business changes.

The key to growth is to build a strong foundation; know your sense of purpose, explore your market thoroughly, and plan on staying ahead of the game.

2 thoughts on “3 Tips for Small Business Growth

  1. Reply
    Linda Luke - December 14, 2017

    These are a great start in any situation. Thank you for sharing.

    1. Reply
      Ingrid - December 14, 2017

      Thank you, Linda! I’m glad you found this article useful.

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