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Here's to your success: discover seven winning principles to grow your company.


Turning a small into a multimillion-dollar enterprise is an entrepreneur's dream come true. what are the secrets to growing a successful company? Business growth expert and speaker S. Little (www.stevenslittle.com) provides he says most experts will with--on how to achieve "profitable growth."

"Most entrepreneurs have a growth plan in 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 irrefutable - The opposite of refutable.  Rules of Small Business Growth (John Wiley John Wiley may refer to:
  • John Wiley & Sons, publishing company
  • John C. Wiley, American ambassador
  • John D. Wiley, Chancellor of the University of Wisconsin-Madison
  • John M. Wiley (1846–1912), U.S.
 & Sons; $18.95), Little outlines his effective principles for sustained small business growth and success.

FOLLOW THESE RULES FOR SUCCESS

1 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 Honing could refer to
  • Improving surface finish & geometry using a Hone
  • the practice of sharpening
  • Honing, Norfolk
 your overall purpose is the first step toward growth.

2 Thoroughly understand the marketplace. To grow a business, you need to recognize what customers are looking for Looking for

In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with.
 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.

3 Build an effective growth planning system See spreadsheet and financial planning system. . Tap into employees, managers, and outside observers to help develop a good growth plan. Prioritize pri·or·i·tize  
v. pri·or·i·tized, pri·or·i·tiz·ing, pri·or·i·tiz·es Usage Problem

v.tr.
To arrange or deal with in order of importance.

v.intr.
 growth planning every day.

4 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.

5 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 To turn a set of manual steps into an operation that goes by itself. See automation.  your business processes.

6 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.

7 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.
COPYRIGHT 2006 Earl G. Graves Publishing Co., Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Article Details
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Title Annotation:MANAGEMENT ADVICE
Author:Johnson, James C.
Publication:Black Enterprise
Date:Nov 1, 2006
Words:373
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