As an entrepreneur you can eliminate at least half the stress and burden you may be carrying right now IF you have the right business growth strategy. What I’m about to show you should take some of the bricks off your back and give you the freedom to really take off in your business.
Let me take you on a journey. Let’s get into a virtual hot air balloon and look at your business landscape from a higher perspective. I’m about to introduce you to a business growth strategy that is profound in its simplicity and implications… I call it “The Entrepreneur’s Path.”
I formulated this model from my experience working with thousands of entrepreneurs from all over the world. Some struggled to make their business work while others took off easily. Why was that?
The answer was simple – those who took off had more experience under their belt. That was all. They know their market, their brand, and the offers that would sell. I looked further and noticed this knowledge didn’t happen overnight. And it didn’t happen with them thinking about it a lot.
For example, virtually all the successful entrepreneurs started their business with simple word of mouth marketing and rarely ever with advertising or fancy marketing campaigns. Most actually never even started with a website.
Things might be different for them now but back when they started, they sold face-to-face (or phone-to-phone). They built relationships – all good old-fashioned stuff.
Look for yourself and see if this isn’t true. Think of a couple successful people you know right now. Go way back to their very beginning. How did they start? Wasn’t it essentially relationship building and referrals? No fancy website, no fine-tuned tagline, no “secret” magic bullet tactic. This got me thinking about what makes a solid, true-to-life business growth strategy.
When I analyzed the actual entrepreneur’s path of successful service professionals I saw a pattern – they traveled in clearly defined business growth stages. Let’s look at these…
Business Growth Strategy Stage 1: Get Direction
This is where you are finding your way. What’s your business going to be? Who are you going to serve? What do you offer them?
This can be a frustrating stage if you’re impatient like me. I spent four years in this stage trying all sorts of businesses and niches. I threw a lot of spaghetti on the wall to see what would stick. I eventually found it, but it happened almost by accident.
If you’re in this stage, go easy on yourself! It takes time to find your niche and your way. BUT, let me give you a BIG word of caution if you’re in the “Get Direction” stage…
The only way to successfully get past this stage is to interact with and work with real people. Focus your energy on getting out from behind your computer and start meeting your potential ideal clients face-to-face.
The BIG mistake people make here is they hide behind their computer spinning their wheels trying to develop a website, putting around on social media, or trying to jump to info product creation. These are all good things… but in their own time.
You get past Stage 1 by taking action… with real people! This brings us to…
Business Growth Strategy Stage 2: Get Clients
Your goal here is to get first-hand experience working with clients. Most important of all is PRACTICING with LOTS of people how to sell what you offer. Your goal in stage 2 is to get good at communicating the value you bring with your service.
There’s no short cut here. You get good by practice. The more you hide out thinking in your head what you do, what’s your niche, who’s your ideal client… the longer it’ll take you to blast past this stage.
If you want a solid business growth strategy, get out there and have real conversations with who you THINK might be your ideal client. Talk about what you THINK might be your niche. It doesn’t have to be perfect. It shouldn’t be! You’ll figure this all out by engaging with people. Looking in their eyes, hearing the tone in their voice you’ll see first-hand what lands and what doesn’t.
You’ll be shocked… within a short amount of time you’ll know exactly who your market is, what they will actually buy (vs. what you think they should buy), and much more. In fact, you’ll be well on your way past a 6-figure income by simply providing a valuable service to a hungry market.
THEN… when you know your market well enough from first hand experience, you’re ready for…
Business Growth Strategy Stage 3: Get Leverage
Your goal here is to take the momentum you started with services and expand on it even further. Because you know what your market wants you can offer it in different formats and business models. For example, group programs, information products, retreats, online courses, live events, and much more.
And now you can scale up your business and efforts. Maybe you can expand the service you currently offer by bringing on employees or contractors to do the same. In other words, you build on the brand you’ve built to scale up your operations. And/or you leverage your time more and more by offering low-ticket items, which are a stepping stone to your high-ticket services.
Now, this Entrepreneur’s Path isn’t set in stone, but if you analyze people who have build a big following or are speaking at the big events, this is what they did. They were an “overnight success”… that was 10 years in the making.
Also, don’t think of these three stages as ridged steps – they unfold naturally like a wave. They blend together. To have a business growth strategy that moves you forward faster, own up to which stage you’re in now. Focus 80% of your energy to fully engage with that stage. Master it. And you’ll naturally be propelled to the next stage.
It’s when you try to skip a stage that you run into feeling overwhelmed and frustrated with your results. Take stock of where you’ve been and honor the valuable experiences you’ve gained so far. Then own where you are now and choose business and marketing strategies that will produce the best results for where you are right now.
What’s Your Business Growth Strategy? Share Your Ideas Below
Leave your comments and questions below. How does realizing which stage your in right now help you focus your efforts? What simple actions can you do this week to fully engage with the stage you’re in right now?