Saturday, November 10, 2012
Friday, November 2, 2012
How to Grow Your Business to the Next Level?
MOHNISH IS AN
As a Business Coach, I have been helping entrepreneurs shape their ideas into winning business models. The most common and the most difficult challenge that they throw at me is their inability to grow their organization beyond a certain level.
Well here are some quick pointers you might want to focus on -
1. Trust others:
As entrepreneurs start out on their own, in the initial phase, all activities by force have to be done by them. However, this habit of playing superman clings on to their personality even after they have hired a couple of employees. Entrepreneurs find it difficult to believe that someone else can do their job better than them. They believe they are the best and the only ones who can possibly do any task in the organization with super expert precision. Well, this is a myth!
You cannot be good at everything and if you believe so, you are heading towards a very dark future my friend. Hire intelligently and trust others to execute the responsibilities assigned to them all on their own. You can surely act as their coach but don't you sit in the office working late nights while your employees merely add up to the office décor.
2. Work on your niche:
In today's hyper competitive market, where everybody looks the same and offers the same features, where your price overtakes the value you offer, it is very important to differentiate yourself from others. You must consistently work on finding out how you can stand out from the competition as far as your product positioning, your target audience and your product specialization is concerned. If you offer a commodity, you will have to fight the price war. However, if you work hard on creating something that's unique and satisfies an unresolved or unaddressed need of your target group then you have struck gold! Remember to always sell something that no one else can offer or add up special services to a competitive product so that people choose to buy from you for the unique experience that your service offers.
3. Focus on revenue generation:
Entrepreneurs must get rid of all activities that eat up their time but do not offer revenue gain in return. They must delegate all non-revenue generating activities to their team members. They must personally focus their time, energy and resources into doing only those activities that directly result into commercial gain.
Hire people to do the mundane documentation, the banking routines and the logistical complexities. You must solely focus on networking with people, organizations and customers who have the potential to take your business to the next level.
Entrepreneurs must continuously tread uncharted territory. They must constantly be on the look out for the next big thing. They must observe and learn market and global trends and happenings. They must educate and train themselves on the skills required to be a successful entrepreneur. They must read about and network with successful businessmen. They must take risks and venture out and do things that scare and disturb their comfort zones. Breaking through paradigms is the only way you can successfully take your business to the next level. So what are you waiting for? Get started on your next big initiative!!!
This article is written by Mohnish Nair. Mohnish is a business coach specialized in small and medium size enterprise coaching in India. A young, dynamic motivational speaker, creative designer and a strategic coach, Mohnish has helped hundreds of business owners transform their world creatively. That's Mohnish's motto in life, to transform the world creatively. Contact Mohnish by visiting his blogsite - http://www.mapledreamsindia.com or write to him at firstname.lastname@example.org
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