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You are here: Home / Blog / Plan For Growth

Plan For Growth

August 30, 2022

We all may have gone into business for different reasons, but one thing is certain – we all need to make money or there is no business.

And how you want to grow your business is up to you. For some people they want to make $50k and work from home around the family and that’s great. Some may want to make $100k, $200k, half a million and that’s great, or a million dollars and have a busy team and premises. There is no right or wrong answer, this is YOUR business so you get to decide what growth means to YOU.

One of the key factors that makes a big difference is your Business Model.  And Covid has had an impact on every business is some way.  It’s time to look at business with a fresh perspective – we can’t keep doing business the way we did pre-Covid. Business has changed and we need to keep up with it.

Read on for my thoughts about how you can grow your business in 2022/2023:

Get a Plan

Take a step back and objectively look at what’s working well, what the bottlenecks or pain points are, and what you can do differently.
Take it step by step and map out a 90 day plan.  Just work on 2 – 3 key goals per month, and don’t try to do too much at one time.  We want to get them done, implement them and get results.

Create income streams

This is where you could look at your current business model. What brings in the revenue, who are your best customers, what is your most popular product or service? Now think about WHO ELSE needs what you do! Think creatively and outside the box.  Can you grow your customer base into different industries? Or can you package up your offerings and create passive income. For example, turning your knowledge into an online webinar or short course?

Be the solution to someone’s problem, and they’ll invest in what you have!

 

Decide your Income

If you want to figure out how much you need to grow – decide how much income you want to make.   This is both turnover, profit and what you will pay yourself. Then calculate how many hours per week or clients you need to work with every month in order to achieve this. Be prepared to work hard before the bigger pay off and shorter hours. It can take time to build up your business.

Work with better quality clients

You may have heard of the 80/20 rule – where in business 80% of your business comes from 20% of your clients? When was the last time you reviewed your clients and established who your ‘A’ and ‘B’ type clients are?  When you grow a business, it pays to be strategic. You don’t necessarily need to double the number of clients you work with, but could look to work with a smaller number of higher value clients who value what you do, and want what you have. Or if you sell a product, look to wholesalers, distributors, and channels where others can sell your product for you. This extends your sales reach and can work well once set up.

These are just a few ways to grow your business, and there are many more. Here are a few final things to keep in mind:

  • It’s not about how many staff you have, its about what business and lifestyle you want for you and your family.
  • Keep control of how quickly your business grows and PACE out your growth – stay in control of it.
  • Think strategically and think ahead – not just about the day to day work you do.
  • If you want to grow your business, roll your sleeves up and get stuck in to MAKE it happen.
  • Remember WHY you are doing this, and if it doesn’t excite you anymore, get a better WHY!
  • Lastly – enjoy what you do, think of all the benefits of having your own business, and be proud of what you’ve achieved so far. Remember to celebrate all those ‘Wins’ along the way!

Fiona Clark from BreakThrough Business Solutions, is a leading Business Growth Specialist and helps to grow and scale small to medium businesses in New Zealand.  If you’d like to find out more, visit her website:   www.businessgrowthcoach.co.nz

Article written by Fiona and featured in Venus Business Women

Filed Under: Blog Tagged With: business growth, Business Planning, Business Strategy, income

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Fiona is an incredibly talented business growth specialist. Her values-centred guidance challenged us to think beyond just “web solutions company ” and focus more on finding our specialization that would capitalize on our passions and strengths. Her knowledge of so many industries, and her willingness to connect us are particularly valuable. Her uplifting, positive, and fun personality make her easy to open up to and enjoyable to work with. She has not only been a mentor, but her strategies and lessons have inspired and motivated us to take our business forward in the right direction. Fiona is truly one-of-a-kind, and I would recommend her to anyone looking to grow and scale their business.

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Fiona certainly has a wealth of knowledge when it comes to growing a business, strategic thinking and actual marketing. I can not express my appreciation enough, for the structured sessions each and every time. She allocated ample time to understand me, my business and my clients and what opportunities I can derive, before the actual process started. I believe this is what made this programme very unique, valuable and a success. Not just a copy and paste programme, as there is so much to choose from when looking for help, rather one filled with valuable tools, processes and direction. The fact that she extracted the absolute best from me, re-iterating my strengths and focusing on those, got my confidence right up there, thinking big and putting plans and goals in place. The accountability that she embeds in achieving those small ‘wins’ every week, as we worked through the process was just great. I am on my way to reaching new heights in my business and building a great brand, growing from strength to strength. Looking forward to continue my journey with Fiona going forward. Thank you

Karin Blaauw – Barfoot & Thompson

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There are times in business when a fresh set of eyes and world experience is essential for you to grow, change or just reset. I have owned my own businesses for over 20 years, I approached Fiona for mentoring and coaching as we were/are going through an exceptional growth phase. It was one of the best decisions I have made, especially as it was proactive (rather than trying to put out fires). Fiona has helped guide my business through constructive input into systems, staff management, time management and so much more, her insights have helped shape us so we are in a future-proofed position. If you are considering a business influencer take the time to have a coffee with Fiona!

Matt Piggin, Director – Millin Ltd

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Working with Fiona has been amazing. She really helped me to gain more clarity on the priorities for my business over the next 12 months. What I appreciated most about Fiona’s style was that she really listened to my needs, niche, goals and working style and was able to deliver a really practical plan that meets both personal and business outcomes. She does all this from a genuine desire to help others. Thank you, Fiona.

Shalini Perera

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I am a personal trainer and have been in business for many years, so motivating others to achieve, is what I do. I discovered Fiona whilst reading her business coaching article in NZ Business Magazine. That was the light bulb moment I needed. She was going to be my business personal trainer. Fiona encouraged, guided, inspired, but mostly motivated me to achieve. Her knowledge for business is outstanding and her ability to get results without adding pressure made it exciting and fun for me. Sometimes in business we need an extra pair of eyes, to see what we have and how we can build and Fiona was those eyes. Fiona was the difference between my business just surviving and now thriving. I would encourage anyone to get Fiona on board, no matter how experienced or long you have been in business.

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