Boost Your Business Growth with Corporate Counselling
Small businesses often look for ways to grow their business, but now and then fail to find the right strategy. Every business owner wants to witness the growth of their organization. As soon as a business begins, business growth and prosperity is the biggest goal for all.
Small to medium businesses have their own set of roadblocks and growth patterns. To categorize their problems systematically seems a hopeless task to many entrepreneurs. You see, turning a small business into a big one is never easy. It has been seen that most businesses start small and stay there forever.
However, if you feel that staying small will not necessarily guarantee your business’s survival, you can see examples of many small companies that turned out to be Fortune500 companies in a few years. All because of the right business growth strategy. Many companies made the transition from start-up to small business and finally to a fully thriving large business.
When I took over our family business, it was in a miserable condition. No one was ready to take with all the loans and court cases. However, I couldn’t let my business down because no one else found it worthy of growth.
When I started my entrepreneur journey, I did not know the business or the industry. People would not listen or agree to me as they were not ready to accept a female superior. They would often think ‘she knows nothing’ or ‘she won’t be able to survive.’
However, their criticism gave me more and more motivation each day. The motivation to prove everyone wrong and take my business to a height that it had never seen kept me going. Finally, after many sleepless nights, tiring days, grit, and determination, my hard work paid off. Our business not only recovered from the past loans and court cases but flourished like never before.
The business growth our organization saw was unbelievable for many, but not for me. I always had a business growth strategy and worked hard each day to fulfill my aspirations. Today, when people read my story as an entrepreneur they feel motivated and self-sufficient. They learn how to believe in themselves and their dreams.
There is nothing impossible in today’s time. If you have the will to grow your business, you’re just one step away from seeing the growth. It reminds me of one of the largest eating brands in the world and how they started their journey as no one to grow into a brand on everyone’s lips.
Yes, I’m talking about the most relished Pizza chain, ‘Pizza Hut.’ Do you know how it all started?
Dan and Frank Carney were unlikely entrepreneurs. They wanted to start something of their own without knowing the how and whats. Both the brothers knew nothing about pizza but decided to give it a shot. In 1958, they borrowed $600 from their mother to open a boutique pizza place in Wichita, Kan.
They took the loan and invested without even knowing the pizza recipe. It was just two weeks before the opening of the store that they managed to find someone to teach them how to make pizza. They named their venture ‘Pizza Hut’ because their signboard had space for only eight letters.
Despite being inexperienced, they had the grit and will to do something of their own. The business was a big hit, and people all over the globe know this. Now was the time for the Carney brothers to come up with a business growth strategy to spread their business. The brothers eventually began to franchise. In just its first decade of business, Pizza Hut grew to 310 locations. By 1971, Pizza Hut had become the number one pizza restaurant chain in the world as far as sales and number of restaurants.
It was in 1977 that the brothers decided to retire and sold the company to PepsiCo. They made a deal for a whopping amount of $300 million. Today, Pizza Hut operates over 18,000 restaurants in more than 100 countries.
The regular pizza place that started with an investment of $600 in 1958 today runs at more than $5330. So, if you think a business with minimal investment can never grow into a big venture, you’re wrong.
What is Business Growth Counselling?
Business growth counseling is designed to give a one-on-one consultation in various areas of business growth. This counseling is meant to help business owners develop an efficient strategy and take their business to new heights.
This coaching can also help people who are yet to start their entrepreneurial journey. The coaching is designed to explore many areas of business growth and workplace problems.
What are the different types of business growth?
Before you start to develop a strategy for business growth, you must learn the different types of business growth out there. A knowledge of these growth patterns will help you choose the right strategy for your organization.
Intensive growth, in simple words, is internal growth. It is the way you want your organization to grow internally. It is like climbing a ladder where you take one step at a time. If you’re a small business owner or a start-up, it is where your business growth begins. There are neither many risks involved nor complexities in this type of business growth. You first need to focus on the lower steps of the ladder and then proceed upwards. A part of this type of strategy includes market penetration, market development, and product development. You might wanna grow internally by enhancing employee productivity, resolving conflicts, or setting larger goals. You may even come up with new products for new customers. In any way, this type of growth is all about growing internally as an organization.
The second type of business growth strategy is the Integrative strategy. Once you’ve climbed the ladder of integrated business growth, it is time you step out and grow outside. This type of business growth is best for medium-sized organizations or successful companies.
Integrative growth is about merging and acquiring firms of your level that complement your business. There are three ways of integrative growth:
- Horizontal Growth: This growth strategy involves acquiring or merging with a competing business of the same level. It will add to your company’s growth and will also eliminate a business barrier or a competition standing in your way of growth.
- Backward Growth: Backward growth strategy can be beneficial to an organization in many ways. It involves buying one of your suppliers to improve your supply chain. When you get extra control over your supply chain, it can help you fasten your processing, further leading your business to grow.
- Forward Growth: Another integrative business growth strategy is moving forward with growth. This strategy focuses on buying companies that are a part of your business chain. For instance, you can acquire one of the retail stores that sell your manufactured products.
The last way of growing business is diversifying its area. Although this strategy was very popular in the old times, it is not much used by businesses today. Diversification is a way of growing by acquiring a company that is completely unrelated to your business. It is a risky strategy and should only be used by developed organizations.
No matter what type of business growth you desire for your firm, business counseling is a must at each step. You will not want to take a wrong step before getting the right direction from all your employees and a third party vote.
Steps Of Developing a Business Growth Strategy
Now that you know what are the different business growth patterns, you can choose and work on the type of growth strategy that suits you the most.
It is quite apparent that organizations experience some common problems at different stages of development. A business coach can understand and aid in assessing the challenges faced by different organizations.
- Step 1: In the first step, the main problems of the business are obtained. These problems include getting the right customer, delivering products, or optimum customer service, etc. Most small businesses who are unable to keep up with the finances close when they run out of capital or sell their business. So, the first stage is obtaining problems.
- Step 2: If the organization is good enough to sustain a minimal customer base with running revenue, then the future survival plan is determined. In this step, the organization can move ahead and expand to grow further or collect enough funds at the same stage.
- Step 3: It is the decision-making stage where the final business growth strategy is developed. It is also a critical stage, and a lot of things have to be considered here.
- Step 4: It is the final stage where we discuss how rapid the growth will be. It also covers finances and other resources.
Once an optimum strategy is developed with proper business coaching, your company will be ready to grow more each day.
Why Choose Our Business Growth Counselling?
Our business growth counseling is designed to help your business give the right direction. I am an entrepreneur and a life coach, it gives me the best of both worlds. I give business coaching not just with words but a real-life business experience.
Our business growth counseling covers many factors to ensure your organization reaches newer heights.
- Special knowledge and skills: Many times organizations lack or have limited access to specific skills. Our counseling gives you access to a professional and comprehensive working style. I understand your industry first with my experience and collect the unique skills required. Our corporate counseling is niche-specific and works on practical skills set on demand.
- We help you increase business performance: The ultimate goal of any business is to boost their company with each passing day. One of the best ways of gaining business is hiring a coach who knows what they’re doing. Business counseling helps your employees become super productive. Most employees in your organization just pretend to be a master of everything, but they often lack common skills. Counseling helps your employees to turn an asset. I have experience with the right skill-set to do the job.
- Solve all your business problems: There is not a single workplace that does not have its own set of problems and conflicts. When problems start rooting in a business, the growth is hindered. It is very essential to remove all workplace problems at the right time. We keep an open mind while solving business problems. We study, listen, and observe to understand conflicts. When your employees are in conflict with each other or their manager, they will never be productive. A jealous and rebellious attitude among employees will not let your business grow.
- External Resolution: Most of the time, organizations discuss the matter and solve problems among themselves. They often divide and make decisions for their company. However, many times such decisions are considered biased by the employees. To present an unbiased opinion and decision, a third-party business counselor can be really helpful. I have helped many organizations get over their long-term conflicts with my unbiased opinion.
- Best Practice Solutions: Being an entrepreneur and a counselor, I have vast experience in both industries. Having worked with multiple customers in different industries, I have a broad perspective on varying situations. With my unique knowledge and experience, I offer proven concepts and solutions to my clients.
Our corporate counseling covers almost all aspects that you need for a flourishing business. From employee relations to business communications to growth strategies, we can help your organization with the right coaching.