3 Things Entrepreneurs Do to Grow Their Business 10X Faster

Business Coaching, business growth, business coacch, The entrecoach

The art of building a successful business is the desire of every entrepreneur. No one wants to fail in business, but only very few business owners are prepared to pay the price of building a successful business. The question is, what does it take to succeed in business?

Well, as you will soon discover, the anwer is; not a lot! While many people are continuously growing business as a matter of life or death, in my personal opinion and experience, growing a successful business is quite simple. That said, let me add also that simplicity is not to say that the process is going to be easy. Notwithstanding, if you understand and apply the very simple steps of the process, I bet you will succeed against the odds. In this post, I am going to give you three simple steps, or what you can call strategies used by successful entrepreneurs to grow their businesses faster.

You know, as creator of The EntreCoach™ Program; a comprehensive business growth support system that leverages small business coaching tools and proven concepts designed for ambitious entrepreneurs to grow their businesses 10x faster, I have no doubt in the efficacy of the strategies I’m about to share with you, and there is no risk whatsoever if you choose to apply them to grow your business.

1. Be aware of where you are right now

Before you start to grow your business, it is critical to understand where you are starting from. This doesn’t make sense to a lot of people who claim to understand the ‘ins’ and ‘outs’ of their business, when infact they do not.  To grow your business, you need to be aware of the resources at your disposal as well as the limitations you’re struggling with presently. The result of your awareness will give you a realistic picture of how much you might want to grow by, and any additional resources you’d need to achieve your growth.

2. Determine how much you want to grow by

Every entrepreneur I have come across want to grow. But the challenge is that only a few of them are actually willing to sit down and articulate the extent of growth they want, and when they want to achieve the growth by. In the The EntreCoach™Program for example, there are hundred of results-focused business coaching tools  such as the Roadmap™ and many more, which our clients use in projecting their three years growth. The tool shows at a glance, the key areas you’d like to see growth in your business over the next three years. This might include ‘quality’ of clients,  profitability, number of employees, product/service segmentation, new markets, number of free time, and many more.

3. Apply disciplined execution

Execution is the the most powerful of all strategies that drive result in any business. If you do not take action on agreed plan, you would succeed only in sentencing your business to a few more years of struggle. In order to execute effectively, you need to be clear about what to do really well. In the EntreCoach™ program, we have a powerful business coaching tool which we refer to as Key Breakthrough Actions (KBAs). KBA is used to identify the five most important actions, which our clients are bound to execute over the next 90 days in order to see the results they seek.

As you can imagine, implementing above three business growth strategies can be quite simple; aren’t they? When combined with few more strategies which time will not permit me to share on this page, you are guaranteed an accelerated business growth.

“Nkem Paul is founder and President of Cognition Global Concepts Cambridge, an international firm developing leaders, and helping entrepreneurs build a Self-Sustaining Enterprise. He is the creator of The EntreCoach™ Program.

3 Fundamentals for Building a High Performance Team

High performance team, Leadership development

To build a high performance team is probably the number one success strategy for growing any profitable business. Regardless of sector, industry or location, high performance teambuilding will continue to play a key role in business growth many years to come. Unfortunately though, many entrepreneurs and business leaders do not quite understand this simple but powerful business principle.

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Start and Grow Your Business With a Compelling Vision

Having a compelling crystal clear and extremely well communicated vision is without doubt the number 1 business growth strategy for building any successful organization irrespective of size, industry, or geography. Notwithstanding the enormous benefits organizations stand to gain from having vivid vision, the concept has been so overused, trivialized and misunderstood by many people hence the obvious confusion around the terminologies like Mission, Vision, and Values (MVV) statements.

Let me begin by clarifying this confusion, and take a step further to explain how to grow businesses with the principle of a compelling clear vision.

So then, what is Mission? What is Vision? And what are Values statements?

Mission Statement:
A Mission Statement is the description of what you or your organization is meant for. It captures the purpose and primary objectives for your being, living or establishment. In other words for an organization, a mission describes the solutions you are meant to provide to your employees, customers, communities around you, and the world at large through your products and services.
Every mission must answer three basic questions about:

1. Why do we exist?
2. Whom do we serve?
3. What value or benefit do we give to our stakeholders, communities and the world?

Vision Statement:
A Vision Statement describes where the organization wants to be (when it grows up), and the directions it would take to get there. Vision statements paint vivid image of how the future will look when the organization and its employees get there in such a way that everyone knows well in advance and recognizes it when they get there.
Vision is futuristic; it is the dream or image leaders have in the mind’s eye about what their organizations will be say 5 years, 10 years, or 20 years from today.

Values Statement:
Values Statements are different. They are the fundamental beliefs, behaviors, and commitments that organizations agree to abide by. Unlike mission and vision, values are not created; they evolve from the character and behaviors of both leaders and employees within the organization and are the codes of conduct by which the business is built.

For example, an organization’s values may be honesty, integrity, professional development, transparency, or customer satisfaction. These written codes define how each person within the organization behaves to one another in the course of executing their tasks. It is important to understand that while most organizations tolerate errors and mistakes that often occur in their day-to-day business execution processes by employees, any violation of one aspect of its values can be viewed very seriously by senior management as breach of a fundamental code of conduct, and can be severely punished.

How then can a clear vision lead to business growth?

May be you are still wondering how to grow a business and increase profitability by simply having clear compelling vision. Well, as I said earlier, vision is the inspiring picture of what transformational leaders and everyone else in their organization is working so hard to accomplish together. It is the reason they go to work everyday, the impact they want to make to their customers and the world.

Many businesses struggle because they lack clear vision, and those that have it fall down completely when it comes to what they do with it. True vision reflects the products and services you want to create for your customers. It defines the benefits you and your business will be remembered for, and also the strategies and various ways you can go about creating them.

Develop A Shared Vision

For your vision to be truly effective; it has to be shared with your people. Visions are shared when the ideas are clearly and consistently communicated for everyone to see and understand. The reason many leaders do not make significant positive impact in their organizations is because no one else sees the vision they see. When no one understands where you’re going, they will be unwilling to follow you, and a leader with no follower cannot grow any organization.

A Shared vision energizes teams and employees to perform with more enthusiasm and coordination. Nothing grows an organization faster than having inspired employees and teams who are moving in one coordinated direction to achieve common goals. This movement occurs only when leaders help their followers to see their own individual future in the mission, vision, and values of the organizations they work for.

No matter how compelling and clear your vision may be, if you do not over-communicate it to your world, it will never be achieved. Shared vision brings focus and holds the people accountable. It gives a sense of security and direction to employees who believe that their own future are fulfilled when they accomplish their company’s objectives.

So engaging your employees and teams regularly about the future of your organization (the Vision) will keep them constantly motivated and aligned with you and your objectives. This is a key leadership skills development you must acquire. You can achieve this by sending monthly email broadcasts, newsletters, or posting them on your websites; notice boards, or as screen savers on your company’s laptops and desktops.

Nkem Mpamah is CEO of Cognition Global Concepts, Cambridge. Nkem will help you grow your business, increase productivity & profit by at least 30% in year 1. He also works with teams to align their objectives with company’s missions, visions, & values to build a successful business.