Running a business is like a giant game of Tetris – with a million little pieces that need to fit together on the board. From managing finances to hiring a team to developing your offers – there is a LOT to keep track of when it comes to business growth. When evaluating all the different pieces of the business puzzle, it’s necessary to make them work together like a dream team for everything to stay in order and run smoothly!
Overview of the 8 Pillars
To build a successful company, whether you are an experienced business owner or new to the business world, it is important to understand and implement the 8 pillars of business growth. By focusing on these pillars, entrepreneurs can identify and address areas of weakness, improve their overall performance, and operate at their fullest potential.
*These pillars were taken and adapted from Natalie Gingrich’s Strategic Objectives – an amazing Director of Operations – who is now building up and teaching other DOOs her method.
Business Growth + Financials
Business growth and financials are critical components of any successful business. Unfortunately, entrepreneurs often shy away from diving into the numbers, but it’s essential to understand how your revenue is generated and how it impacts your bottom line. Understanding these factors is crucial to making informed decisions that drive growth and profitability.
Offer development is the imaginative stage of your business where you tap into your creativity and dream up innovative solutions for your clients’ needs. It’s a time to let your ideas flow and bring your vision to life. However, it’s important to remember not to get too caught up in the excitement and offer too many solutions at once. This can be overwhelming for your audience and dilute the impact of your offerings.
The key is to focus on one thing at a time and make it a priority in your schedule. This way, you’ll be able to effectively communicate the value you bring to the table. Not only will this boost your growth and financials, but it’ll also be a fun and fulfilling journey!
Visibility is the name of the game when it comes to reaching new customers and spreading the word about your business. It’s important to remember that you can’t help people if they’re not aware of your existence. To achieve optimal visibility, consider where your target audience is active and where you can showcase your brand authentically. Keep in mind, you don’t need to be everywhere, just where your audience is and where you’ll see the most return on investment. By striking the right balance between visibility and authenticity, you can build a successful and sustainable business.
Team growth is enjoyable when you bring in the right players! By tapping into the skills of others, you can supercharge your business and reach new heights. The secret to success? Matching your Vision with your current and future team members. If you haven’t spelled out your Vision yet, start here! Take some time to dream big and get crystal clear on your goals. Then, when it comes to your current and future team, ask yourself what tasks make you want to pull your hair out and which ones require a pro with specific skills.
Bringing in team members with different strengths and expertise can help fill in the gaps and tackle tasks that may not be one’s strong suit. It allows individuals to focus on what they do best and creates a more efficient and productive work environment.
Systems and Processes
Systems and processes are the key to scaling your business with ease. They help you get more done without working more hours or burn yourself out. The goal is to make money and grow your business while balancing work-life. By implementing effective systems, tools, and processes, you can improve the overall efficiency of your business operations.
The benefits of having a well-oiled machine are numerous, including enhanced team collaboration and communication, improved customer satisfaction, increased efficiency and productivity, consistency in your delivery, better decision-making based on accurate data and information, and reduced stress and workload for business owners. By streamlining your operations, you can focus on the bigger picture and take your business to the next level.
Client experience is the cornerstone of a thriving and dynamic business! By delivering outstanding experiences, not only are you keeping your clients happy and loyal, but you’re also turning them into your biggest advocates and promoters. They’ll be raving about your business to everyone they know, and that’s the kind of publicity money can’t buy. From the first interaction to the final goodbye, craft a journey that’s so enjoyable, your clients can’t wait to work with you again. We’re talking onboarding that’s a snap, working together that’s a joy, and off-boarding that’s like bidding farewell to a cherished friend. The ultimate goal? To turn every client into a devoted fan who can’t wait to sing your praises!
Professional growth is about elevating your abilities to give your business a boost. Concentrate on sharpening your skills and becoming an expert in your field. However, it’s easy to fall into the trap of being a “development junkie,” taking every course that comes your way without considering its relevance to your business and the skills you need to succeed. That’s why it’s critical to ensure that the courses you take align with the direction you are taking your business and the specific skills required to make it happen. Investing in yourself and your professional growth will pay off in the long run, helping you take your business to new heights.
The essence of a business is embodied in its culture. It’s the shared values, attitudes, norms, and beliefs that shape how employees interact, communicate, and make decisions. A strong and positive culture can establish a sense of purpose, bring a sense of unity and belonging to the workplace, foster collaboration, and boost morale and productivity. On the flip side, a toxic culture leads to high turnover and low morale. As a business leader, it’s vital to consciously cultivate a culture that aligns with the business’ values and goals.
Prioritize Your Pillars
Understanding and implementing the 8 pillars of business growth can help entrepreneurs run their businesses at their fullest potential. Each one plays a crucial role in the steady progress toward achieving business success. However, you don’t have to (and shouldn’t) juggle all 8 at once! Instead, figure out which 3 pillars need your attention right now and prioritize accordingly.
In a big company, you might have a fancy director or department head for each one, but in a small business, you need to take on multiple roles and gradually expand your team to cover each objective. With the right strategy and mindset, you will set yourself up for business growth and stop drowning in the sea of tasks that come with being an entrepreneur.
- First, make sure you know where your business is headed. What are your 3-year goals for your business? If you want some support, join the Wait List for the Clarify Your Vision Challenge!
- Decide what 3 pillars you want to prioritize, and build those projects into your project management tool.