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Scaling Up 3: Maximize Your Resources

Hi Champ!

In the last post we talked about three more ways you can work on maximizing your current resources. They included:

  • Reveal your business’ soul
  • From breaking even to breaking the bank
  • Stand up and stand out

Today we’ll talk about the last three areas you can work on to maximize your current resources. They are:

  • An offer they can’t refuse
  • Would you like fries with that?
  • Stay away from the edge of the cliff

An Offer They Can’t Refuse

The secret to success is to stay ahead of your competitors- maintain the competitive edge. To do that you need make it easier for your customers/clients to say “yes” rather than “no”. You do this by eliminating all the psychological, financial, physical, emotional and other roadblocks they may have.

You can take the risks for them by offering warranties and guarantees that make the customer feel more confident in you, your business and your products/services. You also must be serious about your...

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The Perfect Bait

 

Hi Champ!

In the last post we talked about how to learn about your big fish and prepare for the first contact you’ll make with them. This first contact is essential to your success. You need to instill confidence in them. They need to know you can fulfill exactly what you are offering on time, at a good price and at the quality you promise.

Today we’ll actually go through an approach and how to make that perfect first impression. Before you put together your approach plan, you need to choose with big fish you’re going after. Take a look at your notes and the research you’ve done about prospective fish. Then decide which one will bring the greatest return with the highest probability of success to start out with.

There are a series of things to go through in choosing which fish to start with. They are:

  • Your Value Position or Brand Promise
  • Compile Your Ideal Target List
  • Select the Best Target

 

Position Your Business

You need to position your...

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Strategic Growth Comes When You Take Action.  Do It!

HI Champ!

When you think of strategic growth, think of constructing your business model like planting a tree. At first, it’s so small and weak you wonder if it will even make it through the night. But, you keep watering, fertilizing and nurturing it. Your ideas will grow the trunk and each of these strategies will extend out as the branches of your now strong tree. Finding the perfect support staff, employees, vendors/suppliers and other relationships will make your tree flourish with leaves and flowers.

Here are four key areas to start thinking about an integrated growth strategy.

Management Strategy

The way you structure your management team is not only essential to your growth, but the happiness of your employees and, ultimately, your customers/clients. This strategy is results-oriented and doesn’t depend on the people, but the actual system that’s in place.

A management strategy is, in short, a set of standards that include goals, rules, a mission statement and...

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Expand the Life of Your Business

Today I'm going to talk about the life cycle of a business and how to get the most out of each cycle while also extending the lifespan of your business.  At Springboard Consulting we use our Elevate Your Business consulting model, NewBizSpringboard & ElevateYourBiz e-learning platforms to identify key objectives necessary to springboard companies to the next level.

The five different stages of a business life cycle are:

  1. Inception
  2. Survival
  3. Growth
  4. Expansion
  5. Mature

Let’s talk a little about what each of these cycle’s means and how they can each help expand your business’ lifespan.  At each level of maturity there are also eight factors that influence growth and the high gain objectives (Springboard's) in each of these change based on maturity. 

The eight Springboard's are:

  • Owner Focus
  • Strategic Direction
  • Sales and Marketing
  • Cash Flow Management
  • Performance Management
  • Processes and Systems
  • Risk Management
  • Business Funding

Inception

This is...

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Building Blocks For Growth

Today I'd like to chat about the different types of capabilities and potential staff roles necessary as one grows from inception and survival into growth mode.  At Springboard Consulting we developed a business consulting tool that helps to identify key objectives necessary to springboard your business to the next level.  These levels represent the maturity of the business and here is a brief explanation of the model.

  • Inception / Startups; Less than 2 years old
  • Survival / More than 2 years or making a profit
  • Growth / Business experiencing fast growth, growing staff needs
  • Expansion / Planning Franchising, Licensing, or Multiple Locations business models
  • Maturity / Brand recognition, People, Process, and Technology needs fulfilled

As a company moves towards the growth level, there are essentially three key roles that need to be filled as a building block for growth.

  • The Expert
  • The Manager
  • The Leader

All of these roles need to be played simultaneously by different people...

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