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What’s Stopping Your Business Growth?

Imagine the situation: You’ve launched your own business with the belief that you would be able to churn out more money out of it than you did in an office job. However, your results don’t match your calculations, and you’re beginning to wonder where you went wrong. More often than not, your business can get stuck on its path to success on process and strategy obstacles that can be easily tackled. Ultimately, if you’re can’t rely on your business for financial freedom, it’s time to examine what could be stopping it from growing any further. You ’ll be surprised to learn that in most cases the issue is not related to the size of your team or of your offices.

You’re wasting time and money in the wrong places

If lean manufacture is a new concept, you need to apply for dedicated manufacturing training to unlock the full potential of your company. Indeed, the core principle of lean production is to minimalise all resource waste without reducing the quality of your productivity. In other words, you can find that companies that are not familiar with this method are often guilty of misusing their resources – whether it is material, time, or people. By understanding the value your customers expect, you can streamline your processes to create the perfect flow of activities and duties to deliver the best possible product or service at the best price.

You’re not the best

You can’t attract customers if they are not confident that you are the best for the job. At the heart of it, you need to talk the talk, aka you need to understand how to best engage in a trading negotiation with your customers. It’s an exchange in which you have to make sure you grasp their needs and are ready to deliver what they need when they need it. Aside from the basic of customer acquisition, there is a lot you can learn from the market experts. You can avoid costly mistakes by working with a coach and observing your competitors, for instance. Admittedly, they will still be mistakes on the way, but as long as you make sure to learn from them and turn them into a PR exercise, you can become someone customers can rely on.

Are you in the right niche?

If you haven’t been paying close attention to the market, you might have missed a crucial change of mind and expectations from the audience. Fluctuations and trends develop over time. You need to stay tuned to make sure that you follow the best direction for your business. Going against the trends can be a destructive strategy in most industry sectors. That’s precisely why it’s essential for business owners to run regular market analysis and adjust their plan accordingly.

You don’t have enough capital to invest in growth

There’s no way around it; if you want to grow, you need money. You can’t get your business to the next step if you are not in a position to invest in additional equipment, processes, and marketing. Commercial loans and crowdfunding platforms are designed to provide small businesses with a chance to expand. You can also check crypto investors for startups.

You can’t grow if you don’t plan your efforts carefully. From identifying wastes to finding investors, there are many options to become a big fish in a small pond.