Thursday, October 10, 2013

5 Ways to Get Out of Start-up Mode And Grow Your Business

It is easy for entrepreneurs to become stuck in start-up mode. However, you should not limit yourself by remaining in that beginning phase. After some time it’s necessary for your business to go from planning to doing. To get into this mindset you as an entrepreneur need to start delegating, picking your business battles, gaining attention, changing your pitch, and creating urgency. 

One of the toughest things is to move from doing everything yourself, to investing in other people to help with business tasks that you can no longer handle. Approximately three quarters of all small businesses have zero employees. It may seem costly to hire people, but you will lose more money through lack of production and the failure to grow your business.

It is also important to pick your battles when it comes to doing business. Don’t spend your time worrying about small things such as creating your logo, which is likely to change along with your business.  Focus instead on bigger battles such as increasing your customer base and earning more money.
Another big hurdle for small businesses is to gain more attention for yourself and your business. You have to stand out among competition and a way to do that is to put yourself out there for the public to see. Tell people who you are, prove to them that you can live up to that name, and reap the admiration and attention you desire. 

Changing your sales pitch is another step that can take your business to the next level. For example you may have started out saying “I own a small consulting firm”. This comes off weak as you begin to gain more customers and doesn't set you apart from other similar firms. Instead, take your pitch a step further by saying something like “I own a consulting firm like none other that guarantees your company increased sales." This shows that you are unique, confident, and capable of providing the services that they need. Also be ready to quickly explain what your business does in a better and faster way.

Finally one aspect of moving your business from start-up to expansion is to move with urgency. Take the time to set specific timelines and achievement marks for yourself and your employees.  This pressure will allow you and your staff to produce more products and services that are sure to increase your profit. Giving your employees these operating tasks will provide your people and company with the momentum it needs.

So remember that your business should progress from start-up mode to grown-up mode. Today it is no longer about the big eating the small, but the fast eating the slow. Take the time to accelerate your business and become a going concern so you will become one of the fast companies in your industry. 

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