People interested in personal growth and bettering themselves are encouraged to spend time with themselves, figuring out what they like, dislike and want to be like.
This introspection can be useful for everything from taking different paths to making big decisions to setting new life goals.
The same strategy can be utilized for companies interested in business growth.
Simply saying “we’re going to do well this year” or “let’s have more sales” both can be vague and difficult to focus on as specific business growth goals.
Instead, companies are encouraged to look closer at what they do and plot a course where they want to go.
Consider company retreats or opportunities for employees to share their thoughts and what the future could be like. All of this will provide guidance into specific goals.
Then you can bring in financial and legal pros to strategize what procedural changes could make this happen.
Other efforts to focus on smart business growth can include:
• Figure out why you’re doing this. Does your company have greater goals behind “make more money and sell more stuff”? (Not that there’s anything wrong with this.) If not, that’s OK too.
• Brand licensing. Rather than simply looking to produce more of your same products and service and boost sales, consider looking for things to put your logo and products on. Think beyond apparel like shirts or hats, but ways to find new audiences and partnerships. Jigsaw puzzles? Posters? Lunch boxes? Phone covers?
• Get the word out in your community or a larger level. Start by sponsoring a youth sports team, where all the players can wear your logo on their shirts, and often wear them long after the season ends. Arrange to have your logo seen and name announced at a local sports event, even all season. It may come with a cost, but think about all the potential views.
• Think of feeling. What feeling do people get when they think of you and what do you want them to think?
Companies seeking other business growth ideas can contact Skybridge Capital Group.