Decisive Factors Required to Grow your Business

Advice / Leadership


Decisive Factors Required to Grow your Business
Raja Rayshouny , Director, Lebanon

Discussing the decisive factors required to grow a long term healty business.


When we first read the title of this article, we tend to think right away Oh how can I grow my revenues? Well at least for this it is only a small part of the equation but not the final solution.

Growing an existing business is the dream of every owner, shareholder and person in charge, but few questions remain to be answered.
What does it take to do that? How can it be done? What factors are involved to achieve this dream?

Growing the business is not by adding more brands, products or people that most probably will give you nothing in return. What we want is the right foundation that is built on the right plan, people with their proper experience, these three combined and being empowered will definitely grow your business to a long term existence, which will lead to more revenues and profits, and without growing your expenses and your payroll.

Now the question you may be asking yourself, why the proper plan, the right people with experience? Why it cannot be the brand, product and price? This is the power of my business.The answer is simple, take a fruit seed as an example, anyone can put it in the soil, but does it mean it will grow and survive? Of course it may not! This is the only logic.

To plant the seed you need the proper plan (Land & Soil), the right people (Someone who knows the different soils) with the adequate experience to do so (The know-how) to nourish it and cultivate the right passion fruit as a result.

Now assuming the plant is there, you will need to take care of it, who could do that other than the people with the know-how? They have the planting and the harvesting experience in providing the necessary means to maintain the plant to become a tree, and it does not stop here, I believe you already have figured or can figure out the rest of this.

The motive behind this example, that any type of business must have and requires the experienced and in every aspect possible, we cannot sit in the shade of a tree expecting to be safe, someone has to maintain the tree and on continuous basis.

Standing by your people is a sacred matter, in terms of supporting those who have proved their loyalty, integrity, and who may have taken positions as advocates, defenders and protectors, those people who may have provided a sound advice on numerous business matters.

In business and in our daily lives we make and take decisions, right and wrong but it is the not end of the world, the lesson that we let our ego aside, and learn from our mistakes and correct them, if we decide otherwise the result is very clear.

Growing the business means you have to take care of your own people, rely on yours and their past experience, rely on cases that existed and their results, on top you need to

Trust them and make them feel it
Empower them enough
Engage them so they sense the belonging
Treat them with respect
Motivate them so they feel valued
Appreciate them so they can do even more than what is expected and beyond
Considering that you have taken the advice, your business will grow and expand, because you have simply inspired your people, so they can work smarter and harder accomplishing more voluntarily, and all to the benefit of the business.

The ideal business role model is allowing your right people to feel that this is their livelihood, and you have found that your dream have come true! At this point you will realize that business has grown in terms of size and profits.

Take care of your people and they will take care of the business, treasure the right competent people the same way you treasure your loyal customers, nothing more and nothing less.

People are the core of every business, specifically those with the experience and the knowledge, a replaceable asset according to some, but not always true.

Good judgment comes from experience and experience comes from bad judgments.” – Dr Warne W. Dyer

Irrational and quick decision making will simply kill your business, and vanish your team's passion to achieve.

Your vision must be clear, strategic plan should carefully be thought of, your decisions should be as wise, so your business may grow and succeed.

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Other Views by this Author: Carrot & Stick Approach is Obsolete! | Ethics & Honor


 
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