Anyone can start a business but cannot grow the business alone. For your business to grow you need other people’s channels and other platforms that are bigger than yours. Always think of channels that will provide you with money exponentially. Make a plan to connect with the channels that you have identified.
The following strategies can help you to grow your business.
1. SYSTEMISE YOUR BUSINESS
Find yourself a system or solution that works a system that creates a culture of excellence and discipline, one that achieves maximum results even when the owner is not around. This can help the business owner to one day replicate the business and franchise it.
2. DELEGATE
Become a delegator so that you can spend your valuable time on Business building activities only. The secret lies on sticking to activities that will build your business and brand position, namely providing solutions to people’s problems and delegate everything else.
3. PRIORITIZE
Know how valuable your time is, and prioritize. If you want to earn a minimum of R10 Million a year, focus only on activities that will bring R10,000,000 a year;R833,333 a month;R192,308 a week;R27,473 a day and R3,434 an hour in an 8 hour working day.
4. USE SHORTCUTS
Use shortcuts to make the work you are doing EASY; REPEATABLE and PROFITABLE i.e. repurpose your own material. For an example, you have just started a business of preparing and selling Healthy Burgers.
You can decide to open one more selling station after every two months using the profits of the existing selling station. You will have to hire the unemployed youth to manage your new stations and pay them a salary.
You can then create an E-Book e.g. ‘Eat Burgers but stay healthy’. This can be done by using ghostwriters at Upwork or Freelancer.com or Fiverr to write for you at a minimal fee. You can publish your book at Kindle Direct Publishing in Amazon. Your book will be available worldwide. You can then get affiliates to market your book online and just share the proceeds. Even Amazon has an Affiliate program. The system only pays the Affiliates when they have made a sale.
Also, you can develop a course by using Google slides or PowerPoint, free resources. You can use the same information you have used to prepare the Healthy burgers and the E-Book. Then you can record the Google slides for free using Screencast-o-Matic, a screen recorder, and video editor. If you want the paid version, you can use, but the free version works well also. You can sell your beautiful online course in various platforms like Teachable or Thinkific or even at Amazon.
I hope that these growth strategies will give an idea of how you can grow your business, are not expensive and will provide you with passive income.
Closing question: In what situation in your business can you apply what you have learnt in the coming month?
Vuyelwa Vitshima is an educator, a subject advisor and, a trained Accountant and Auditor. She helps small business owners transform their businesses and double their profits.She has a world class and critically acclaimed instructional video series that provides any small business owner with new ways of making profits without spending any money on marketing or advertising.