Achieving Sustainable Growth for Your Business
Achieving sustainable business growth is a major stressor for many business owners.
It's no wonder they often want to talk about sustainable growth.
And who can blame them? It’s likely that every business owner wants to grow and scale, but many are not sure how much or how fast to grow.
If they grow too fast, it might be difficult to fund the growth. If they grow too slow, their businesses may become stagnant.
There is no right or wrong answer about how much to grow, and there is no “one way” to do it.
But one thing is for sure—to be successful and healthy, a business must grow sustainably.
What is Sustainable Growth?
Sustainable growth is the maximum rate a company can grow without having to increase financial leverage. Without borrowing money, experiencing financial or operational hurdles.
Simply put, sustainable growth means repeatable growth.
My past clients who adopted repeatable growth formulas grew their businesses successfully. Here are some of the ways they did it. They:
- Looked for growth opportunities that generated cash and profit
- Listened to their customers and improved their products
- Focused on the success of their customers, offering better experiences and more support
- Sized their business systems appropriately
- Built a cohesive team dedicated to serving their clients’ needs
- Used real numbers—not assumptions—to track the progress of their business objectives
How an Online Business Manager Can Help Achieve Sustainable Growth
One of my clients recently achieved great business success by growing sustainably. She knew her market well, understood her customers’ problems and knew what needed to be done to solve them. But she wasn't quite sure how to go about it in a way that would both help her customers and generate cash and profit for her company.
So we worked together and focused on two specific areas:
Achieving Sustainable Growth with New Sources of Revenue
First, we evaluated all of the ideas she had come up with to solve her customers’ problems. Using her existing metrics led to understanding about what was truly profitable in the past, and not just what she assumed was profitable.
Measuring each new idea against her metrics gave us the information to predict whether it would be profitable or if she was on the right track. With each idea, we gauged whether it was one to pursue, set aside for later, or discard altogether. After going through that process, we came up with a list of objectives she could reasonably do to move forward, that would give her customers a better experience and really set herself apart from the competition.
She decided to move forward with the idea of offering a combination of her services at no cost so potential customers could see the tremendous value she was providing. Their responses were overwhelmingly positive, and she ended up selling twice as many service packages as she thought she would!
Achieving Sustainable Growth by Managing Expenses
Next, we closely examined her expenses, because to get a good profit, she had to have the right expenses.
We eliminated so many expenses that she was able to hire new team members to lighten her load. She learned how to work on the business instead of in it, delegating some of her tasks to her team, which allowed them to grow. Offloading these day-to-day tasks freed up her time so she could focus on what she really liked to do and was good at, like marketing and strategy.
After going through this process together, my client had her best year to date.
Sustainable, repeatable growth is hard to achieve on your own, but that’s one of the benefits of working with an Online Business Manager. We know what to look for and what questions to ask. Our experience and track record help you make sound business decisions that will grow your profit.
If you would like to learn more about sustainable growth or how an Online Business Manager can help, please contact me. I would love the opportunity to help you grow your business the right way, at the right rate, so you, too, can experience sustainable growth.
As a result, she enjoys her business again!
I’ve helped small businesses through growth, plateaus, and decline for over 25 years.
As a Certified OBM®, I focus on management for the entrepreneur who sells services online.
I care about your business and supporting you to grow it!
When you are ready, I can help.
In the meantime, grab your copy of “Systems Secrets” to get the link for “Top 3 Systems Secrets Your Business Needs to Thrive.”
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Experienced online entrepreneurs are often stressed and exhausted because they are juggling everything in the business. I partner with owners to get results by managing operations.
Bottlenecks are busted so they have the energy to focus on growth.