HOW DO I GROW MY BUSINESS?
Key takeaways from this article:
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Identify your company’s story and realize your own
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Determine where your business is today and where you want to be tomorrow
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Explore 10 ways you can grow your business
As a business owner, your main focus is growing your company. Perhaps you have wondered about the most effective ways to achieve this goal. You have prepared for this moment, and you have all the tools and motivation to grow, but every time you try - things don't seem to launch.
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Does this mean that you have swung the bat and struck out? Does this mean you should take your ball and go home? Of course not. Ask yourself what inning are you in? You have the ability to grow your business and you can learn different techniques just like you can learn anything else.
Remember: Anything worth having is worth working for.
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T.E.C. = Time, Effort and Consistency.
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Instead of shooting in the dark, why not take a measured approach.
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D.A.F. = Deliberate. Aim. Fire.
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Growing your business requires an intimate knowledge of yourself and your business.
Sharp and decisive execution.
Actualization.
Are you ready for your business to soar?
TELL YOUR STORY
In an era when people are tired of being talked at and sold to, people crave genuine connections with brands. To accomplish this, your business, your brand must stand out and stake out a share of the marketplace. But how do you cultivate that connection? You can humanize yourself and your company by telling your brand story. The better you can communicate who you are, what you do, and how you can help people, the faster you will grow your business.
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Why is storytelling so powerful? Because it triggers a physiological response. A brand story grabs attention, elicits an emotion, and engages people. This is true for any kind of story telling in general.
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A good story can trigger your brain to release cortisol (the stress chemical) or oxytocin (the feel-good chemical). This explains why you feel anxious while watching a horror film or happy when the lovers finally get together at the end of a book.
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When you can tell a compelling brand story, people are naturally captivated. Whether it’s the story of how you built your business or the story of how your product improves people’s lives, finding a unique brand story is one of the most effective ways to entice, engage, and encourage people to build a relationship with your brand.
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The Keys to a Great Brand Story
Of course, to do this well, you need to understand what makes a brand story impactful. Then tailor it to your own.
Ultimately, it comes down to five specific elements.
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Is it meaningful? With a lot of information comes lots of noise. The people you are trying to grab attention from are dealing with content shock. There are a hundreds of brands vying for attention, hopping on bandwagons, and chasing cars down the street. Whatever they perceive successful competitors are doing is good enough for them. Too many brands are focused on what they want to create and not on what YOU want to consume.
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It’s personal. You can tell all sorts of stories. They can be entertaining, educational, or inspirational. But people need to feel personally connected to them. This is important not just to pique interest but to draw them into the story. How does your brand improve their life? Why should they take the time to invest in this story? Remember: If there is no place for someone in your story, there’s no reason for them to pay attention to it.
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It’s emotional. A strong brand story is all about stimulating emotion and empathy. It’s not just about what you do but how you make people feel. How do you affect their lives? If you can trigger an emotional connection with you, you will have them hooked.
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It’s simple. One of the most common mistakes in brand storytelling is trying to say too much. It’s far better to tell a very simple story and maximize emotional attachment than bombard people with different stories. You could tell a story about large-scale problems facing the healthcare industry, but showing how these issues affect a real patient gives the story a singular focus and makes it easier to connect to. In short, focus on one person or one problem at a time so you don’t confuse or distract your reader.
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It’s authentic. Your story should be your own. Be open, honest, and transparent and let your personality shine through. It also means being consistent. When you’re creating a ton of content, it’s important to cultivate consistency so that people can not only identify your content but trust it too.
Read more to find out how to Tell Your Brand Story and How to grow your business.
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HOW TO GROW YOUR BUSINESS
No matter what kind of small business you run, you’re going to want to increase your sales and grow your revenue. Whether you’re a one-person operation or you already have a handful of employees, learning how to grow a business is a natural way to build on your achievements. That’s why so many people are interested in how to grow a small business. But you’re not going to get very far if you don’t know where to start.
There isn’t an easy one-size-fits-all business growth strategy for small business owners. But, there are key strategies you can use to give your business the best chance at growing. Follow these 10 steps for healthy, profitable growth.
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1. UNDERSTAND YOUR BUSINESS
Knowing yourself in business is just as important as knowing your customer. You need an identity. So, identify some key things.
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What business are you in? For example, if you ask
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Who is your client. Who are you serving?
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Who is your business relative to the industry as a whole?
For example, what business is Warby Parker in? You might say eye wear. But ask Warby CEO and you’ll likely get a story of the time in grad school when he lost his glasses. The cost of replacing them was so expensive that he spent the rest of the semester squinting and complaining.
Every idea starts with a problem. Warby's was simple. Glasses were too expensive. The promise of designer eyewear at a revolutionary price was the seed that grew into Warby Parker. He knew his business was about creating socially responsible affordable eyewear, not just making glasses.
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Your customers can read between the lines and you should too! Grasping the deeper meaning that is infused with your company is a huge part of helping your business grow. Revisit your core company values and your current product and service lineup. See if they align with the vision you have for your company. For example, you may be in the business of selling tacos, but you can also stand for helping the children on Taco Tuesday if this is your core value and you donate a certain amount of profit each month to local children's groups.
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2. STAY UP TO DATE WITH YOUR INDUSTRY
Once you understand your business you can begin to anticipate change in your industry. This will help you skate to where the puck is going not where it's already been. Anticipation is the key to finding new ways to grow your business.
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Your S.W.O.T. analysis will become lethal. You will understand your strengths and weaknesses better than ever before. You'll also see the possible opportunities and potential threats that you may otherwise overlook. This will encourage continuity and success in your business. This will serve to protect your business and revenue against formidable competitors who want your most precious asset - your clients.
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3. EVALUATE YOUR TEAM
Who is on your team now? Who do you want on your team? Are the current team members on board with you as their leader? Do they embrace and exhibit the company values as their own?
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Think of the people you want on your team. Do you have an effective outreach and recruitment strategy to identify and hire the right people for your company?
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Your team should be an asset to you. Take stock of assets as you would look at a balance sheet. Is there anyone on your team who is not a good fit anymore. This could be cultural or dollars and cents.
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Evaluate what you have and see if there are any areas holding your back. You need an accurate honest assessment of your current positioning in order to grow.
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4. ALWAYS KEEP YOUR EYE ON YOUR CLIENT
You are the BRAND. Consider why your client is working with you and not your competitors. This is what you need to capture and replicate in order to grow your business.
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Clients that choose YOU are your biggest supporters. They voted for you with their $$$.
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Do a deep dive on your ICA (Ideal Client Avatar). Learn about who they are. Develop empathy and compassion for them. Find out what they need. What causes they joy and pain. Understand them and their lives. Learning how to attract and retain these types of loyal clients is the lifeblood of your business.
Consider how you can help them make their lives easier and they will hire you.
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5. KNOW WHERE YOU WANT TO GO
You aren’t a faceless corporation. There are real people behind your brand. Human Beings work in your office, make your product, and run your social media. Putting a face to your brand is one of the best ways to cultivate a connection, so consider ways you might peel back the curtain to show people who you are, what your culture is like, and what you care about.
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This content is the most fun to create. There are many ways to talk about or display your product or service beyond traditional sales materials.
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Are there unique features that make your product particularly useful or effective? Are there surprising ways people have benefitted from your service? With a little creativity, you can create interesting content that showcases your brand in exciting ways.
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Think about the people you want to help. Why do you care about them? How do you want to help them? Think about not only what you do but how it improves people’s lives. People want content that educates, entertains, inspires, or even celebrates them. So think of opportunities to incorporate your ICA into your brand story.
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6. KEEP ADDING VALUE
Customers and Clients love value added products and services. This is the reason they hire you. And this is the reason why your competitors sell to and convert some of your current clients. Everyone wants to receive value and feel valued while being serviced. Remember to keep that in front of you as you do business.
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Once you understand how to consistently offer more value than anyone else in your market, you will be in a better position to gain market share. You will have clear direction on where to take your company and growth will be in your front view.
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7. CONTINUE YOUR BUSINESS EDUCATION
Furthering your education can only help your business. You don't need to get your MBA like Donald did to learn how to grow your business. There are hundreds of accredited online business courses available that can teach you many of the core concepts that Bird Brand Business Mastery Events focus on. You will develop crucial communication and marketing skills that will make you more effective at communicating your business' purpose. Project management is a skill for every sector that will come in handy not only for big project organization's but also managing employees as your grow.
8. WORK WITH A BUSINESS COACH
Everyone needs a coach. The best entrepreneurs, athletes and businessmen in the world all have one thing in common. A coach. Even actors and other entertainers have directors and other specialty coaches. We can't see ourselves and we all have blind spots. No man is an island.
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If you are embarking on building a small business as a new entrepreneur working with a professional business coach can take you from the minor leagues to the big leagues.
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A coach can help you develop a business map to problem solve for everything from time management to building a team that works.
9. ENGAGE MENTORS - REACH OUT FOR GUIDANCE
No need to reinvent the wheel. There are no style points for doing it all alone. Many people have walked in your shoes before. You may know some of them and they could be eager to help you. You won't know until you engage.
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A good network of mentors will raise your confidence and your problem solving abilities. Having a mentor shows maturity and leadership and increases overall emotional health.
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Engaging with people who have been where you are is the best way to get new ideas and valuable perspectives.
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Mentors can help you set goals and offer encouragement to you, especially when it feels like no one else will understand.
Mentors offer you the confidence of having trust advisors in your decision making process. This will allow you to remain nimble and prepare to face the changes that invariably come to entrepreneurs running a growing company.
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10. JACK BE NIMBLE, JACK BE QUICK
Remain nimble, CHANGE is the only constant. Change is going to happen regardless if you are prepared for it or not. Growth requires change so it is inevitable. The question is are you ready and can you adapt?
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A young kid in the midst of a growth spurt might feel pain in his joints. A young baby will feel pain as his first teeth cut through his gums. Your muscles will feel sore as they repair from the damage of a workout. Growth either voluntary or not will likely be uncomfortable. You must learn to lean into the discomfort.
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It's like running. You will never be able to run farther if you stop every time it gets a little uncomfortable. Go with it. Your body will adapt.
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Be flexible and try new things in business. If you prepared well and thought out your plan and midway you start to feel uncomfortable - stick with your original plan until further notice or something material changes.
You’ve worked hard on your business! Now’s the time to see the fruits of your labor. Learn how to grow your business and achieve financial and personal freedom.