As business owners and entrepreneurs, growth is always the constant thing we are thinking and looking for. After all, business is about progress and expanding but accomplishing more is what turns small businesses into big companies.
But struggles are too, constant and come before growth and success. It is easy to get lost and giving up may be the most logical solution. You may start questioning yourself whether your dreams are really worth fighting for.
What many new business owners and entrepreneurs do not know is, growth and success show through a series of small changes. Unlike what many movies depict, business growth and success do not arrive in massive moments like winning a lottery.
Instead, you can implement small strategies that will bring long term positive results to your business. To help you start with changing your growth strategies and mindset, we listed down general formulas to get you by. But first, let us define what growth strategies mean.
What are business growth strategies?
“Successful growth strategies are the product of engineering, marketing, leadership, design, and product management. – Appcues.com.
Generally, a growth strategy is a support plan to expand your business. Your business growth strategy may involve one or all of the following: product development strategy, market development strategy, market penetration strategy, and diversification strategy.
Why do you need a growth strategy?
As a business owner and entrepreneur, dozens of things are competing against your attention and energy every day. A growth strategy can direct you and your team towards the same goal. Imagine what you and your team can achieve if your energy and motivation drives towards a common vision and objectives?
This is how a growth strategy functions in a direction for you and team to follow and carry out. Different industries entails different growth strategies. To get you started with we have simplified several growth strategies to expand your business.
Simple growth strategies to expand your business
- Develop a growth mindset.
The first step begins within you as a business owner and entrepreneur. You need to accept the process will involve change and you have to embrace it. Change is not a one time process, but it is a constant element to growth and struggles.
Stepping out of your comfort zone is another way to put this mindset. Learn that it involves risks, but it should not be too risky that it will lead to more lost than gains.
- Cultivate a positive work environment.
It is easy to get caught up with stress with all the things you have thought and do as a business owner and entrepreneur. As a leader though, you have to rise up and set a positive work environment. It is easier said than done.
A positive work culture encourages productivity and saves companies money. There is a study that indicates a positive work environment helps cut expenditures in the long term. On the other hand, a negative workplace is linked to diseases and death, more 50% is spent on health expenditures in high-pressure companies.
Another impact of a negative workplace is disengagement. The same study revealed disengagement leads to 37% higher absenteeism, 49% more accidents, and 60% more errors and defects. A company with a high disengagement rate has lower job growth and lower share price.
Workplace stress is another outcome of negative work culture. Research claims increased in voluntary turnover which is associated with recruiting, training, and lower expert employees as results.
- Accomplish goals step by step.
Expanding and growing a business is not an easy feat but you were able to begin. For you to push further, remind yourself to achieve long term goals by accomplishing short term goals. Be patient and if you have to slow down to get your pace, do so.
A small step forward is an achievement itself. Instead of being hard on yourself for taking baby steps, focus on becoming an expert on your field.
- Create a remote team to assist you.
Pat yourself at the back for creating a business on your own. But when you want growth and progress, it is to leave the “I can do it by myself” mentality. You need a helping hand in order to accomplish more and to remind you that you are not alone if things get overwhelming.
Marketing businesses today recognized the advantage of bringing in a virtual assistant in growing a business. Adding a virtual assistant or creating a remote team is one of the steps you can take forward to grow your business.
How a virtual assistant and remote team can bolster your growth strategy?
Virtual assistants are the most practical strategy you can apply in your growth strategies. Generally, virtual assistants can assist you with your business daily tasks without the overhead cost. If you want to boost your business’ marketing, virtual assistants can render their specialized services where you need them. If you want to increase engagements with your customers, virtual assistants can do that too.
If your business’ growth strategy is to cut costs but still need additional manpower, a virtual assistant or a remote team is the way to go. They work according to the required hours or until they finish a project.
VALUE Virtual Assistants can help you implement your growth strategies through our devoted and competent virtual assistants. If you are looking for ways to grow your business without spending a fortune, VALUE Virtual Assistants can provide the following virtual assistants who can perform the following tasks which are essential in your growth strategies:
- Administrative Services
- Customer Services
- Design and Creatives
- Professional Services
- Healthcare Services
- Financial Services
- Marketing Services
- Information Technology
- Education Services
- Real Estate Services
- And more
VALUE Virtual Assistants is a reputable staffing management that is committed in giving only the qualified and experienced Filipino virtual assistants. So you can spend time in what is more important, become more productive, and help you grow your business.
In need of a virtual team? Get in touch!
