- March 19, 2016
- Posted by: Chowdhury Shahid Uz Zaman
- Categories: Business, Business News
Discover what are the steps that allow you to increase your profits in a sustained manner and with predictable results for the coming year.
Did you know that less than 4% of companies generate net income exceeding $ 1 million a year? This is because most business owners most of the time is dedicated to solving personal financial needs as mechanism survival, and little or nothing to nurture the growth of your company.
If you want to grow in 2016 as a true entrepreneur generates profits and focuses on expanding the next 7 strategies will help not only to expand your business, but become in a highly competitive entrepreneur:
1 – Build a business vision: To grow it must have goals to generate profits, reinvestment and growth in the size of your business. Remember that a business does not exist in your company to survive, but to multiply the capital and the size of your business. You must therefore have powerful engines that will boost every day to achieve results. The bigger your engines, the higher your approach to build business and generate net profits more than 7 digits.
2 – Prioritize: How many want to generate profits? How many customers and sales it achieved? What level of efficiency? What will be your cash flow should have? Who should shape your team? What technology you operate? What should be your training as an entrepreneur? Answering these questions will allow you to redefine priorities and focus on real growth.
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3 – Change at high speed: You must be aware of market movements and respond effectively to the needs of your customers’ way. Being humble to accept you require change, it is key to a high – level play expansion. Remember that in business it is necessary to turn in time when approaching an obstacle and put the machine into high gear when the wind blows in favor.
4 – Grow your results: The control of your business is done with not only controlling people, inventory, orders or expenses, but also controlling the outcome. That is meeting the targets, controlling the implementation of strategies with measurement tools that allow you to generate predictable results.
5 – Build company: Change your business chip, i.e. do not think only out of trouble. A company is not for this, it is to constantly grow profits. Think better in generating capital, reinvestment. Think long term, you will calculate your profit in 5 years. Do not forget, making money does not make you an entrepreneur; capitalize your business takes you to build value and being an entrepreneur.
6 – Business Discipline: To implement activities that require your business (marketing, sales, customer service, operations and finance control), you need to focus on three areas: frequency, sequence and consistency. The experience so far has shown me that 80% of success in meeting goals is discipline.
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7 – Preparation: It is not just, read books or watch tutorials on YouTube. You need to constantly train and implement effective practices that help you grow your business in more than 50% a year. The big difference between you now and in five years you are the decisions you make, the quality of training you have and the actions you undertake to grow.
Let me share something, today is not enough to be productive, it needs to be competitive and generate economic value permanently. The ability of your business is much bigger than you imagine and you are about to find out.