Some key points to growing your business

growth imageAt some point in our business, most of us develop a business plan or at least sketch out what we think our sales will be in the future. We tend to make general predictions like “I think sales will increase five percent per year over the next three years”. That may indeed happen, but it usually doesn’t look like the numbers on your spread sheet. Growth comes in waves or spurts, is often unpredictable, and can be hard to manage.

Think about how growth happens. When someone purchases something from you, hopefully they tell someone else. And that person tells another. In the social media environment, that word of mouth can travel very rapidly. Therefore, you must learn to be flexible and adapt quickly as your business expands. Growth will also require you to prioritize and work on only the most important aspects of your business.

My wholesale record business grew rapidly for the first 10 years. Not only were we selling more to our current customers, we were increasing our number of new accounts like crazy. Although I was ecstatic about our growth, I was committed to always take care of my customers. No matter how big or small the account was I realized that without customers you don’t have a business. So as your business grows and you have to prioritize what you do, always put your customers at the top of the list.

Barney Cohen

President, Business 360 Northwest

 


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