Strategy for small business growth

Why You Need Strategy for Small Business Growth

Strategy before Tactics

Most small businesses start with an idea. Often it’s a good or even great idea and the founders hit the ground running. If they have not had to raise capital during the launch process, chances are they have not created a strategic plan, or maybe any plan at all. They don’t have a strategy for small business growth.

What do they have? They have tactics, lots of tactics. Small business founders are doers. They implement. They get things done.

Don’t get me wrong, tactics without an underlying strategy can work for a while, if you’re lucky and you implement well. But at some point most small businesses will hit a wall. They won’t be able to grow anymore. Or growth becomes really, really hard. What got them here won’t get them there.

Getting Past the Stuck Points

Entrepreneurs need a strategy that will propel them past the stuck points and jumpstart their growth again.

Here are just a few symptoms that come up when you don’t have a strategy for business growth:

  • Business decisions feel difficult and risky. There is no clear path to investing your time and money for the best returns.
  • You feel tired and frustrated with your business.
  • You are not attracting enough clients or customers.
  • You are attracting clients and customers that are not a good fit for your business. You want to run away screaming when you see their name pop up on your caller ID.
  • Your clients and customers are extremely price sensitive, and will only buy if you are the lowest price option.
  • You have high client turnover.
  • Your marketing does not get a good return on investment.
  • You feel like you are spreading yourself too thin.
  • You work long hours and don’t know how to grow without working even longer hours.
  • Your employees and team members are not rowing in the same direction.
  • You have lost control of your brand image.
  • You have lost control of your company culture.

Why are these things happening? Because without an underlying strategy, using the latest and greatest tactics for growth or solving employee problems is like throwing darts at a dartboard with a blind fold on.

The Solution

When  you know…

  • where you are headed
  • who you want to attract
  • what your brand represents
  • how you stand out from the competition
  • and how to scale without working yourself into the ground….

…you have a strategy for business growth that every other decision can flow from. You have consistency. You have a winning message. You can deliver on your promises consistently and efficiently. When you implement tactics that are aligned with your business strategy then everything falls into place!

Strategy for Business GrowthThe challenge for most small business founders is that they have no idea where to start when it comes to developing effective business strategy. Plus it’s difficult for anyone who is mired in the day to day of their business to easily see their business from an objective standpoint.  This is where a business coach, consultant, advisor or mentor comes in.

A business coach or consultant who understands the value of strategy and how to help you craft that winning strategy can help you cut the learning curve, stop spinning your wheels, and start making progress towards your vision and your goals again.

At Pumpkin Plan Your Biz, our strategic process in centered around understanding, identifying and growing your Sweet Spot. Every business will have a different Sweet Spot, but the process for determining that Sweet Spot is the same.

How do you know if you are in your Sweet Spot? When…

  • You know exactly who your best clients are
  • You have and can articulate a Unique Offering that is an exact match to what your best clients want and need, and
  • You have the systems, processes and people in place to consistently deliver that Unique Offering to your best clients…

…you are operating in your Sweet Spot. When you are operating in your Sweet Spot, business growth stops being hard! Your decisions become clear. Your business runs smoothly.

Your Next Steps

If you are struggling to figure out your next steps, how to grow your business without working yourself into the ground, then your next step, before you implement another tactic, is to determine your underlying strategy.

If you are an entrepreneur and want to hire someone who can help you design that winning strategy, you can GO HERE to Hire a Pumpkin Plan Strategist.

If you are a business coach or consultant, and you want to know how to develop your own winning growth strategy, we invite you to become a Certified Pumpkin Plan Strategist.