How to develop your own business?

How to develop your own business?

Are you an entrepreneur who wants to quickly develop your business? Or maybe you are a director or a marketer and are struggling to achieve the next level of growth, since you have rested against the ceiling (by the way, we all reached that level).

Are you an entrepreneur who wants to quickly develop your business? Or maybe you are a director or a marketer and are struggling to achieve the next level of growth, since you have rested against the ceiling (by the way, we all reached that level).

What will my advice be?

The best advice for growing and scaling a business is to find a bottleneck and then break it.

Leaving the comfort zone or delegating part of the work to others, or completely abandoning one or another activity that is not promising, you are likely to witness a rapid growth in business, as you can now work on unfinished business.

In addition, by automating tasks that you are currently doing manually, you can free up time to work on new tasks.

But for me this is not enough. Instead, I will offer you more useful options with which you can think about the growth of your company and how you can achieve this. After talking with a large number of business directors over the past 8 years that I have been involved in marketing, any company has three options in development:

Delegation.

Automation.

Stagnation.

If you are struggling to grow, you must either choose the first two points, or you will take the third path by default.

Delegation

If you are an entrepreneur like me, you can be a generalist. Probably, you delved into one specific business area, for example, product, marketing or technology, but now you have come to the conclusion that you are engaged in a very complex business (the activity of even the simplest companies is more complicated than the work of a single entrepreneur). And business is a very hard thing.

At the initial stage, you will probably seek to control everything in the world. You run a blog, you create additional functionality for a product, you write code, you pay freelancers. Among other things, you study business models and find out for yourself whether your business has a right to exist.

As soon as you pass the initial stages of company growth - you will have a minimum viable product, you will start to get some income, you will already have customers - now it's time to find out what is most valuable for you, what you can work on or get someone to do still working on this task.

It also does not mean that you should hire someone full time. There are many ways to delegate a task:

Hire full-time employees.

Refer to the virtual assistants.

Find a freelancer.

Refer to agencies or consultants.

So, find tasks that take up most of your time but don't make money (Pareto's Law) and focus on others who have a high added value. Then find someone who would perform a low priority task.

And if you do something that brings no value, stop doing it.

Automate

Everything we do can be automated. Whether it is data entry or manual mailing, secretarial work, we all work on light things and postpone hard work.

But you may be surprised to find out that when you stop doing light things and start focusing on difficult ones, then and only then will your business really start to grow.

Light things take place in your memory and you need to spend time and money on them. Therefore, if you do not want to delegate them to someone, why not automate them?

For example, within a few months, I sent out e-mails offering my services after talking to a potential client. This meant that at 10 am I had to spend some time on meaningless work with mail. And besides, I could not send more than 100 emails per hour due to the limitations of the postal service.

Therefore, I spent some time and money to ensure that this system worked automatically. I hired a developer and we made my CRM automatically send an email when the client status changes. I invested only 20 thousand rubles. and released at least an hour of his working time.

If something can be done with a CRM system, why do it manually?

Stagnation

If you do not implement any of the above items, I can guarantee that your business at some point will enter a period of stagnation. While some companies reach a certain level and then a turning point appears that takes it to a new level. As a result, you will exhaust all your opportunities and come to the conclusion that you need to change something.

Entrepreneurship and growing business are all about change. Here's how success comes:

Success is:

1000 attempts.

1000 small experiments.

1000 wins on the way.

1000 hours of practice.

What do you think? How do you develop your business?