Hello again!
Do you remember what you were doing in 1991?
Chances are, you were ogling the Nokia 1011 - the first mobile phone in South Africa. Can you believe that that was just 25 years ago? Fast forward to today, and “mobile phone” is rather a misnomer, as they are now on our wrists, in our sunglasses… monitoring our heart rate, our exertion, and our sleep patterns; linking us to the internet, games, maps, entertainment, and so much more. Oh ja, and we sometimes phone each other with them.
Running parallel to this cellphone revolution, we have experienced many ups and downs both globally and locally. Over the last 25 years economies around the world have been bearish and bullish.
And yet, despite all sorts of upheavals and policy changes, inflation rates soaring and dropping, boom years and bad years, the now-essential smartphone has continued to rise.
So how can you sustain growth in your business for the long-haul?
A SENSE OF PURPOSE
An authentic purpose stimulates growth and profitability. When a business has a clear vision, it's easier to create products and services of value. It is your company’s GPS guiding every aspect from recruitment to customer management to product development and sales.
CONNECTIONS WITH YOUR CUSTOMERS
Want to bond customers to your products and keep them coming back for more? Knowing who your ideal customer is, connecting with the public, and developing these relationships allows you to inspire, influence, and lead customers with your brand.
MINIONS
Being a hands-on business owner is great. Doing everything yourself, though, does more harm than good - especially in areas where you lack experience. The global freelance economy of today makes this easy and economical.
LOYAL CUSTOMERS
I shared an infographic dedicated to Customer Retention HERE, so all I would like to add is this data from Bain Capital: They estimate that a 10% increase in customer retention is roughly equivalent to a 30% increase in a company's value.
CONSISTENCY
“The key to scaling the sales process is establishing a well-documented and clearly repeatable process which can be adopted by new hires from day one, which makes them as productive as the existing sales team. Once such a process is put in place, it is easier to establish a predictable, direct relationship between increasing the size of the sales team and targeting more geographies on one hand, and increased revenues on the other.”
Mohit Sharma – Lead, Marketing & Business Development function at PromptCloud.
YOU
By far the most sustainable way to create value is to continually invest in your capabilities. Your organisation’s needs change at each stage of its growth, therefore its leader, YOU, need to keep evolving at the right pace.
For insights on sustaining your business’s growth for the next 25+years, invest in personalised business coaching:
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Next Week: Planning for Success