Here’s To Your Success

Discover seven winning principles to grow your companyBy James C. JohnsonFebruary
1, 2007--Turning a small startup into a multimillion-dollar enterprise
is an entrepreneur’s dream come true. But what are the secrets to
growing a successful company? Business growth expert and speaker Steven
S. Little (www.stevenslittle.com) provides some answers -- which he says most experts will agree with -- on how to achieve "profitable growth.""Most
entrepreneurs have a growth plan in their head," explains Little. "But
to sustain an effective growth strategy, that plan needs to be written
down, well communicated, and regularly updated." In his book, The 7
Irrefutable Rules of Small Business Growth (John Wiley & Sons;
$18.95), Little outlines his effective principles for sustained small
business growth and success.FOLLOW THESE RULES FOR SUCCESS

• Establish
  and maintain a strong sense of purpose. Start by answering these
  questions: Why are you doing what you are doing? What is your company
  trying to accomplish? Honing your overall purpose is the first step
  toward growth.
  
• Thoroughly understand the marketplace. To
  grow a business, you need to recognize what customers are looking for
  and respond to it. Gain a better understanding of your market by
  reading industry magazines and trade journals. Join associations and
  trade groups to stay informed and share information.
  
• Build
  an effective growth planning system. Tap into employees, managers, and
  outside observers to help develop a good growth plan. Prioritize growth
  planning every day.
  
• Develop customer-driven processes.
  Define everything that you do from a customer’s perspective, and then
  look for ways to improve that every single day. Look for ways in which
  technology can improve your customer acquisition and retention.
  
• Put
  the power of technology to work. Educate yourself and become an expert
  on how technology will impact your business and industry. Identify
  technology experts who can propose ways to save you money and automate
  your business processes.
  
• Attract and keep the best and the
  brightest. A small business owner needs to continually find, train, and
  retain superior people to achieve sustainable growth. Recognize the
  importance of purpose for your employees.
  
• See the future
  more clearly. Find ways to record and measure signs of change within
  your organization. Gather information about emerging issues and
  consider the importance of these trends to your business. Finally,
  develop an action plan to respond to these forces of change.
  

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