“We talk a lot about “scale”; this is something that every owner and senior executive is tasked with. You’re either trying to grow your business or you’re trying to grow your business unit.
The reality though is that you’re trying to do that in a pretty stagnant economy, and that’s not just a local problem, it’s an international problem so it’s one that everyone’s facing and trying to find solutions for.
The key to this is as you’re building your business you need to do it with scale in mind; you need to plant those exponential seeds at the beginning, you need to have your foundations right and unfortunately not all entrepreneurs have done that.
They’re now sitting with a business model that hasn’t delivered what they need for that growth. So what do you do in that case? In many ways you can go back to the drawing board, you don’t need to start a new business but you do need to look at whether you have the fundamentals in place and then put them in place if you don’t.
Getting the Fundamentals Right
So what do you need? Here are three fundamentals that you need to incorporate in your business:
- You need an existing brand, you’re not going to build a scalable business on a brand that no one knows so take your time and build up your reputation.
- In today’s business landscape you either need proprietary technology or a methodology that is proprietary. You need to be offering something that no one else is offering.
- You need to be able to answer the question of how important your product or service is to your target market.
How Import is Your Solution to Your Target Market?
A great way to do that is to actually ask the question: “Is it useful to me?” because if it’s useful for you its most likely useful for someone else.
Ask the question, be brutally honest about it, because if you can’t say ‘absolutely 100% Yes”, why is someone going to pay you for that?
We’re all faced with the same challenges, we’re all careful with our money, that’s the B2B landscape. You need to know that you’re offering something that someone really needs and then you’re ticking that box.
Finally, are you offering real value to your customers, because if they’re not deriving value from what you’re giving them, they’re not going to stay your customer.
You need to be continually giving them real value; Value to their lives, value to their business; whatever it is, whether you’re B2B or B2C, value is key here because that is what people pay your for. They pay you to solve a problem that they have, to fill a need they have and if it’s valuable enough, you will always have that business and you’ll be able to build on it and grow.