How many times per day are you hit with advertisements from business gurus sharing their supposed secrets to achieving next-level business growth?
Not only that, but how often are you intrigued by their supposed secrets, buy into their programs, apply their principles, and then only end up disappointed and more confused than you were before?
If you're like most entrepreneurs, then that perpetual cycle is all too familiar.
But... Do you know why most guru tips and tricks don't work?
Simple... They don't work because they simply add more noise to your already noisy life. Moreover, they don't work because they take your eyes off the simple, straightforward factors that actually ignite company growth.
To help remove the noise from your life so you can finally get on the path to company growth, we're sharing 5 of the most important business growth factors.
None of these 5 factors require you to add any more nonsense to your already full plate... Instead, they're existing factors that you probably already have in play, but just need to leverage and optimize.
If your current growth plans only add more noise to your life, then you're focusing on the wrong growth factors!
Sales Factors Are Most Important For Business Growth
At the end of the day, sales growth and success is central to business growth success. If you want to see your business grow, then get your sales in order!
Think about it... Want to expand to new markets? Make additional sales in the new market. Want to increase market penetration in your current target market? More more sales in your current market. Want to diversify your product line? Make more sales to increase capital to invest in product development.
Moreover, regardless of what your definition of a growing business is, sales growth and success is central to making it happen!
That being said, each of these 5 factors are sales-related factors. By leveraging and optimizing each of them, you'll inevitably have better sales success. Therefore, you'll ultimately have stronger business growth.
Bottom line: It doesn't matter how much strategic planning you do if you don't get your sales in order. Business growth almost always comes down to sales growth... It's that simple!
1. Revamp Your Entire B2B Sales Funnel to Take Control
Are you currently following a traditional B2B sales funnel with the basic phases, including:
- Purchase; and
If so, then believe it or not, but you're probably setting yourself up to fail!
Seriously... If you're like most business owners, then this funnel is likely a staple in your sales and business plans. That being said, how are those plans working out for you?
We're going to make a bet and say that if you are following one of these OG kinds of sales funnels while struggling to increase sales, then odds are that your funnel itself is the culprit!
The reason why it's setting you up to fail is because traditional sales funnels take control of the sales process out of your hands and put it into the hands of your potential customers! And as you already know, nothing good ever comes out of the customer being in control.
Therefore, if you're currently struggling to get growth off the ground, then you need to reset your sales funnel to regain control over the sales process and ignite growth.
Get Rid of Your Funnel & Do This Instead
So, why exactly do traditional sales funnels set you up to fail by taking control out of your hands?
In short... Most sales funnels are absolute trash because they assume that prospects know what their problems are and are actively looking for a solution, when in reality, at least 90% of prospects don't even know that they have a problem in the first place!
When you assume that prospects do know what they're talking about, all the power over the sale falls into their hands. AKA, it’s basically a lost cause for you at that point.
Therefore, by following a traditional sales funnel, you're really only targeting the 10% or less of prospects who are actively in the market looking for somebody to solve their issue.
Going at it like this is not only inefficient, but also self-centered.
So, throw your sales funnel out the door and follow a basic sales process that goes like this:
- Hook the qualified lead
- Analyze the situation and put a proposal out there
- Hype of the prospect's sense of urgency and close the deal
- Execute your solution
If you follow this kind of sales process, you're not only going to be in control over the 90+% of prospects who don't know what their problem is, but you'll also significantly decrease the amount of time that it takes to close sales deals.
Bottom line: Literally forget about traditional sales funnels. If they were so great, then there would be many more entrepreneurs out there with solid business growth. Instead, follow a simple, straightforward sales process that puts you in the growth driver’s seat.
2. Scale Your Vision Even Higher
A business is made up of three key components, including a:
First off, a business owner starts a company in the first place because they have a vision that they want to manifest through their company. For example, Steve Jobs had a vision for a future in which people were empowered through technology, so he started a company and developed products like the iPhone to manifest that vision. If it wasn't for Job's vision, then we certainly wouldn't live in the technologically advanced society we do today.
That being said, the vision, or conclusion, is the experience that you create through your business. A clear vision is the foundation of everything. Without a clear vision, you have no clarity or any idea of what direction you need to head in.
Second, a business strategy is like the blueprint for manifesting the vision. It outlines the steps you need to take and the moves you need to make in order to bring the vision to life.
Lastly, goals fulfill each element of the blueprint. For example, every blueprint needs a marketing strategy, and you set goals that, when accomplished, accumulate to complete the strategy.
Here's the thing though... You can't grow your business without growing your vision. Your vision is like a glass ceiling: Unless you think bigger, your actual business outcomes can't get any bigger.
So, if you want to scale your business, start by scaling your vision. The bigger and clearer the vision, the better growth you'll achieve.
Think Bigger and Clarify Your Conclusion
Most business visions arise organically, so sitting at your desk in a cold office building with a pen and paper probably isn't the best way to try and scale your vision.
Instead of trying to force a bigger vision, let it come to you naturally!
From now on, carry a journal and pen with you at all times in order to jot down visions and ideas as they come to you. Then overtime, reflect on your notes to turn them into a complete and clear vision.
If you're like most CEOs, you dream about your business when you're cooking, driving, or while on a peaceful walk... Don't let those dreams go to waste! Write them down before you lose them.
Make Adjustments to Your Business Growth Strategy
Once you've clarified your newer and bigger vision, you obviously need to adjust your strategy to reflect it.
You can't manifest a bigger vision without upsizing the blueprint for it!
Sit down with your team to make adjustments to your business model that'll reflect the updated vision. The key is to try and keep the blueprints as simple as possible. The last thing you want to do is make growth harder than it needs to be by developing unnecessarily complex growth plans.
Set New Business Goals
Last but not least, set goals that, when accomplished, will fulfill each element of the blueprint.
One fatal mistake that many business teams make is underestimating the amount of energy it takes to accomplish goals. As a result, not only do they not check the boxes, but they feel like they've failed and mistakingly head back to the drawing board.
In order to not fall into that same trap, set goals based on the estimated amount of energy it'll take to achieve them. Before setting a goal, seriously consider the time and resources that it'll take to accomplish it before setting a 'finish by' date.
If you want to satisfy each of your goals and feel great about it, set them based on energy-input!
3. Clean Up Your B2B Marketing Strategy
Not only do most business owners self-sabotage business growth with their sales funnel, but they also self-sabotage with their marketing strategy.
They self-sabotage by developing exceedingly complex and unclear marketing content. In an effort to try and convey their greatness, they ultimately just confuse potential new customers.
That being said, before increasing your market share, launching a new product line, or going at growth in any other way, you must clean up your B2B marketing strategy.
Unless a potential customer looks at your marketing material for the first time and knows exactly what you do and what you're all about, then you might be making things more complex than they should be.
In terms of the substance in your marketing material, cleanliness and simplicity is the name of the game. The more straightforward it is, the sooner prospects get a grip on what you do and what you’re all about. The sooner they get a grip, the sooner they'll choose you to solve their problems.
Sometimes, scaling-up your business is a matter of scaling-back your marketing.
Do New Customers Know Exactly What You Do?
The very moment that prospects see your marketing material for the first time is the moment that they should know exactly what your company does.
For example, if you're a social media marketing company who does everything from copywriting to photo-editing to developing full-scale marketing campaigns, focus solely on the fact that you’re a social media marketing company.
The idea is to focus on one thing, and only one thing only. The more small pieces you add, the less straightforward your marketing message becomes.
People Remember How You Make Them Feel the Most
At the end of the day, what people remember the most about you is how you make them feel, not what you say.
You can compliment a person but say it in a way that makes them feel bad, and they'll almost always remember the feeling instead of the words! Not only that, but they'll judge you as a person based on the feeling instead of the words.
Therefore, when revamping your marketing strategy, you need to consider the 'how' factor just as much as the 'what' factor.
Think about how your marketing content will make the customer feel when they walk away. The feeling that they get from your marketing material determines the way that they feel about your company as if it is an individual person. The way that they feel about your company determines whether or not they want to explore it more.
What Do You Want to Be Remembered For?
What do you want your business to be remembered for?
No, seriously... Imagine that you go around the room and ask your current customer base one word that describes your business the best... What word would you want them to say?
Whatever word you want to be remembered for should be embodied in your marketing!
For example, if the word you want to be remembered for is genuine, then find a way to integrate that as a theme into your marketing.
Focusing on what you want to be remembered for helps solidify your brand identity. With a strong brand identity, you create the kind of business that needs no introduction. Before you even decide to break into a new market, prospects will already know who you are.
4. Take Advantage of Your Sales Relationship Gold Mine
Would you believe me if I said that you're probably sitting on a gold mine right now?
The truth is that you probably are! That is, at least, if you have solid sales relationships with your current customers.
At the end of the day, business, and specifically sales, is about forming strong relationships with customers. In a solid business relationship, both parties get their needs fulfilled and help bring one another closer to fulfilling their vision.
Not only that, but there are several great perks related to business-growth that come from having awesome sales relationships, including:
- Easy referrals for already highly qualified leads
- Valuable insights that help maximize growth
If you don't already have great relationships with current customers, then make that your new focus. The stronger the relationship you have with your customer base, the stronger growth you'll experience.
Simply Get Referrals for New Customers
One of the most common growth-related challenges that CEOs experience is generating new leads.
However, if you already have awesome relationships with current customers, then generating leads should be no problem. Not only that, but leads that come from existing customers are usually already highly-qualified.
Remember... Sales is about relationships. In a relationship, you and your customer give to one another. If you've fulfilled your customer's needs and shown that you deeply care about them, then asking for referrals is a given! They'll have no problem handing over referrals as needed.
Sometimes, generating new customers is simply a matter of asking for them from your current customers!
Use Your Customer Base for Valuable Insights
If you have great customer relationships, then use your base to gather valuable insights. Consider why your current customers chose you over the competition... What factors about them and about yourself combine to make a great team?
Then, use those insights to either refine your existing ideal prospect profile (IPP) or to make a new one.
An ideal prospect profile outlines who your perfect prospect is. It's almost like a caricature for a company in your target market!
With a refined and insightful IPP, you’ll have a much simpler time generating new leads.
5. Up Your Mindset to Up Growth
Straight-up: You can have all of your ducks in a row, but everything will fall to pieces if your mindset is in the red. Seriously, everything that you're doing to stimulate company growth will go to waste if you don't have the right mindset!
By the right mindset, we mean a positive mindset. Having a positive mindset means that the majority of the thoughts you think are positive.
What makes thinking positive thoughts so important for business growth?
In short: The thoughts you think determine the emotions you feel. The emotions you feel determine the actions you take. The actions you take determine your outcomes.
Therefore, if you think negative thoughts related to business-growth, such as 'I'll never grow as much as I want to' or 'What's the use in trying anymore?', then you're literally setting the stage for poor results.
On the flip side, if you think positive thoughts related to business-growth, then you set the stage for great results.
It doesn't matter if you're a startup owner, experienced CEO, or run a large or small business, mindset is your most important growth factor!
Use Your Mind to Hit a Growth Stage
Here's the thing: While you should have a positive mindset, that doesn't necessarily mean that you should eliminate every single negative thought that crosses your mind.
Instead of eliminating negative thoughts, you should transform their corresponding energy into positive energy.
Every thought you think creates a corresponding energy. Negative thoughts create negative energy, while positive thoughts create positive energy. Not only do you feel the energy of your own thoughts, but so do all the people around you!
Think about it... How many times have you walked into a room and immediately felt overwhelmed with energy? Perhaps you’ve sat down for a sales pitch and could literally feel the tension in the room because the sales rep was thinking very negatively of themself.
Moreover, the energy of your thoughts is infectious! AND, while you cannot eliminate energy, you can transform it.
From now on, whenever you feel a negative thought arise, transform its negative energy into positive energy. For example, instead of thinking fearful thoughts and letting fear energy overwhelm you, transform it into positive energy of excitement or adrenaline.
Instead of letting negative thoughts overwhelm you, make them work for you by transforming them into positive energy. It's as if you're using your mind to stimulate business growth.
Final Thoughts on Factors to Leverage for Business Growth
Entrepreneurship certainly comes with challenges, but that doesn't necessarily mean that it's difficult.
You will know that you're on the right path to solid, successful business growth if you feel challenged without feeling overwhelmed, exceedingly confused, or like your plate is overflowing.
Bottom line: If you want to hit and sustain solid growth, then focus less on adding more tricks and tactics to your already full plate, and more on leveraging and optimizing these 5 growth factors!
Remember, if your plate is already full, adding more junk on top of it will only make your life worse...
You May Also Like
These Related Articles